The popularity of gold, in light of recent economic issues, cannot be overstated. Hordes of investors are rushing to ensure their wealth by investing in gold. No matter what your experience is in investing, you can only benefit from reading this article.
When you purchase gold, it’s important to set a fairly stringent schedule for delivery of your metal. If you don’t get delivery immediately, get something in writing which confirms delivery of your pieces. This should be spelled out in no uncertain terms. Don’t order anything without this document.
Consider selling gold online. You no longer need to buy and sell gold at a physical location. You can use various websites to sell gold. Simply contact the site you wish to do business with, and they will send you the packaging material to ship the gold you want to sell. They will give you an offer, if everything goes properly.
Comparison shop when selling old gold jewelry. While many stores state they pay the standard price for gold, there are a number of them that do not. This is because they must take into consideration their overhead and commissions when purchasing gold.
Check the prices of golds the day you plan to buy. This price can be found on a number of websites. Never pay more than 8% premiums on your gold. Some will attempt to charge even more, but that isn’t ethical.
Thrift shops, antique stores and estate sales can be fantastic sources for finding gold jewelry at a good price. If you you’re aware of what to look for, you can find some great bargains. Usually, you will see donated items of great value because people are unsure of their cost. You can reap the benefits of their loss if you do your homework first.
Be careful before getting involved in the gold market. As with any market, there is unsavory, dishonest people. This is especially true when it comes to precious metals. There are lots of people that want to rip you off by not giving you what you’re owed. Doing a good amount of research will ensure that you are getting the very best deal.
A magnet can help you determine if a gold piece is solid. True precious metals such as gold will not stick to the magnet. In some cases, only an item’s clasp is solid gold, while the remainder is merely plated. A magnet can help test jewelry quickly.
Before you sell your jewelry as scrap gold, have it appraised. Appraisal can be especially important with potentially-valuable pieces that may have more worth as jewelry than simply as bullion. Even though there is an appraisal fee, you could see a lot of extra money in your pocket. In addition, appraisers may know people who may be interested in your jewelery.
Don’t sell your gold just because you feel it would get a good price. Gold tends to raise in price and while the price is very high now, it could go down more later. You will get more out of your gold if you keep it for a long time.
The appeal and value of gold continues to gain strength following the global economic slump. With the right information at hand it is possible for individuals of all economic strata to use gold as an effective safe harbor for their financial resources. Use the information above to help guide you through your gold investments.
If you are looking to buy reasonably priced gold, ask your family if they have discarded jewelry they would consider selling. Buy a jewelry scale, see how much the gold weighs, and offer 5 percent more than they would get on the open market. You’ll still come out ahead.