Gold has worth around the world, and it has been that way for thousands of years. Outside of buying jewelry, few people know how to invest in gold. If you’re thinking of buying gold, keep reading to get useful tips on the gold market.
Gold’s price is always changing, which makes it important to know your piece’s value before selling it. If you choose to go ahead with the sale, separate different karat items and have them appraised individually. Avoid selling jewelry that is worth more because of the designer or maker.
You should always ask for timely delivery when purchasing some gold from a reliable seller. Always get a timeline in writing of when your gold pieces will be delivered if immediately delivery is not provided by the seller. This should include the date the gold will arrive to you buy. Don’t go through an order without this documentation.
You might have avoided gold because of the price, and chose instead to buy gold-filled or gold-plated pieces instead. However, you can still find a deal now and then, which you can turn around and sell for a profit. Online auctions, estate sales and pawn shops are only some of your options.
Verify the market price before selling your gold jewelry. 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.
If you are buying gold jewelry as a gift, make sure you have a money back guarantee. You do not know if the gift receiver will like it or if the piece fits. If that happens, you want to be able to send the jewelry back and get your money back as well.
When you’re dealing with any type of gold it can be of valuable to someone that buys it. For example, you might sell home accent pieces, dinnerware, and old or broken rings and necklaces. Even things that are not pure gold can have value. It may just be plated or partially pure. You’ll end up with some money in your pocket.
Sell gold to buyers that are state licensed to buy gold. This does not prevent you from getting scammed, but a licensed buyer probably has a better reputation. There are plenty of buyers for gold, so do not think that you must make a sale to the first buyer that you meet.
Don’t let others know you invest in physical gold. Someone around you could be listening in and be untrustworthy. Make sure that your investment is kept private and kept safe. This ensures that your gold is protected under all circumstances.
Get a good grasp on what you own. Many things look like solid gold but are not. Some jewelry is a composite of a number of different metals. Items that are not pure gold have a lower value. Gold plate is also not very valuable. If you are not certain about what you have, an appraisal before selling is wise.
Use a magnet to determine if an item is made of gold. Gold and other precious metal will not be affected by a magnet, which means that they won’t stick to it at all. Sometimes a jewelry piece is only plated in gold with a solid gold clasp. This is a smart idea to test it this way.
One way to sell gold is through the mail. This does not involve posting any advertisements or going into different shops. You receive a postage-paid envelope in which you place your gold items, put it in the mail and wait for a check. However, you have to remember that you’re not going to get the most from your gold this way. In some cases, you could get about 30 percent less for an item, so just be aware.
Gold is often a lucrative, yet variable investment vehicle. If you can handle quick jumps here and there, avoid it. However gold is perfect for long term investments. Only a small portion of your portfolio should be tied up in gold. Limiting gold to five percent or less of your total investment is a good idea.
It is obvious that gold is not only a prized possession, but also a valuable commodity that can easily be traded. Gold is a sound investment due to its ability to retain a steady value that is more likely to rise rather than fall. Now that you know more about gold and how to acquire it, get started on creating your own collection of gold today.