Gold is a great investment when financial times are tough. But not everyone is privy to the special knowledge it takes to successfully invest in gold. Read on to learn about the pros and cons of trading in gold.
Get valuations for your tangible gold from a handful of dealers at a minimum. Dealer prices vary by store. By getting multiple estimates, you can be certain of getting the best price.
You may be put off by the price of gold, making you go with gold-plated or gold-filled jewelry instead. It is very possible to buy real gold without spending a lot of money at a jewelry store. Pawn shops can offer many good deals and there are also many online buying options.
Be sure you research a company before sending them gold in the mail. Be sure you find out when you will receive payment, and buy insurance for your package, too. Take a snapshot of everything that you send in the mail for security.
Look at the spot price of gold before selling. That will help you determine whether or not a dealer is actually offering you a good price for your pieces. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.
Don’t avoid searching antique shops or thrift stores for gold. If you have a discerning eye, you can locate great pieces. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. If you’re educated on how to make these finds, you can score some great deals.
Check the return policy before you buy anyone a gift of gold. You have no idea if the person for whom you are purchasing the piece will like it or if it will fit. If that should occur, it is important you can return the piece for a full refund.
If you are selling gold pieces you own, keep pieces of different karats separated. Some vendors may try to weigh all of your items at one time and pay you for the lowest karat. This of course results in fewer dollars for you. So keep each piece separated to ensure you get the most you can.
Don’t rule out getting gold items from thrift stores or antique shops. If you understand what to look for, you really can find some great deals. Lots of folks donate items or sell them in such venues simply because they lack knowledge of their true value. If you do some research, you can benefit greatly.
Gold jewelry should be separated into different groups based on its karat value before you sell it. Gold prices vary based on karat weight. Therefore to get the best money on your investments, it should be separated by karat value. The greater the karat ratings, the more the gold is worth.
There is no way to overlook the importance of gold in building fortune and financial stability throughout history. It is important to have a firm grasp of the ins and outs of gold investment in order to make the best investment decisions. The information in this article should give you a good jumping off point for buying and selling gold.
Make sure you understand the buyback policy of your seller. While some do not add additional selling fees, others do. Think about the cost and inconvenience of shipping gold bars to various locations. Never leave the gold with the dealer you buy from.