“Golden Advice”: Top Tips For Gold Selling, Buying, And More

TIP! Research a gold buyer before selling your gold. Check online reviews, BBB.

Do you want to make a gold investment? If so, know it’s a smart choice that balances out your portfolio’s risk. However, you should have information to help you along the way. Keep reading in order to learn about gold as a very valuable investment strategy.

TIP! If you’re unaware of your gold’s worth, have it appraised. Though you will have to pay a bit, knowing its value is crucial.

If you’re selling gold through a mail-in service, do your homework on the company and its policies before you make a commitment. Your package needs to be insured, and you need to be aware of when you are going to receive payment. Take a photo of all the items you are sending so there will be no questions later.

TIP! Keep in mind that gold dealers will buy anything that’s got gold within it. Examples of saleable items include broken jewelry, spoons, forks, household goods, etc.

When buying gold jewelry as a gift, make sure that the return policy is sound. It’s almost impossible to determine the value of your gold jewelry just by looking at it. If the gold turns out to be fake, make sure you get your money back.

Melt Value

TIP! Don’t go into the situation blindly when selling gold; always know what the market price is. Look to see what others are asking for when it comes to similar prices.

When selling jewelry, be aware that most gold buyers will only pay you on the melt value. Pawn brokers and private sellers may just want to pay melt value. This shouldn’t deter you from selling your gold, as there is probably a buyer out there willing to buy for collector value.

TIP! Confer with the gold party rep to determine the method used for judging karats. Many items are stamped.

Never neglect the idea of hunting in antique shops or flea markets to find gold. If you have an idea of what you are seeking, you can really find a bargain in these places. Lots of folks are unaware of the value of the items they donate to these places. You can reap the benefits of their loss if you do your homework first.

Gold Piece

TIP! Inquire with the area BBB prior to selling gold items to jewelry stores, dealers or any other sort of buyer. It has basic company information on them, along with complaints and reviews from those that have dealt with them.

Know what you have. Not all gold piece are worth their weight in gold. Usually, there are other metals mixed with gold for stability. These metals can reduce the value of gold. Many items are only gold plated. If you do not know for sure the value of your gold piece, have it appraised before presenting it for sale.

TIP! Know how to test the grade of gold so that you will be sure to get what you are paying for. Gold purity is measured in karats.

When attempting to sell your gold, you want to do your research into the market price. It’s also a good idea to research what similar pieces have for asking prices. This gives you an idea of what you should get. People will haggle, so ask for more than you will actually settle on.

TIP! Know what you want before you invest in gold. Gold can be a good hedge against inflation and economic instability, but it is a volatile investment.

You can make gold investments in ways other than actually having physical possession of gold. Buy shares in traded or mutual gold funds or invest in some gold mining stocks. Choosing to own gold means that you must have a secure place to store it.

Karat Weight

TIP! Be aware that you will not get the full prices for any of your gold. Gold dealers are in business.

The first thing you should do when selling gold is group the pieces by karat weight. The buyer will doubtless weigh all of your pieces before setting a price for them, and if you aren’t attentive you may see everything lumped together and weighed with the lowest-karat pieces. That’ll mean less money for you. Instead, separate each karat weight before going to the dealer.

TIP! Take some time to monitor gold prices prior to selling. It changes every day so you need to figure out when is the best time to sell.

You should now have information to help you with your gold investing. This strategy can bridge the gap found between mutual funds, stocks and cash savings. Educate yourself fully on the idiosyncrasies of the gold market so that you’ll be prepared to make smart trading decisions.