Gold investments can be a safe harbor in choppy financial waters. Perhaps you are interested in the gold market, but don’t know where to begin. Now is the time to start expanding your gold-investing knowledge. In this article we will present excellent advice on investing in gold.
Gold’s price is always changing, which makes it important to know your piece’s value before selling it. If you’re trying to get gold sold, know that various karat values are going to need to be weighed separately. Do not sell your designer jewelry for its weight in gold because you will lose money.
Prior to buying or selling any gold, be sure you truly understand how gold pricing works. Metal prices fluctuate constantly, so you need to know the price on any given day for a transaction. You need to get ready to pay higher prices than mere melt value on fractional pieces as opposed to one-ounce pieces.
Before you purchase a gold piece, know when it is going to be delivered. If a seller gives you anything other than immediate delivery, you need to have some kind of written contract or guarantee when your pieces are arriving. You should be provided with the estimated date of delivery. Don’t order anything without this document.
If you don’t know what your gold jewelry is worth, consider having an appraisal done. This adds an up-front cost, but it could save you a lot of money later. Look for an independent appraiser who is properly accredited if you want the most accurate value. However, do not expect to receive the exact amount suggested by the appraisal when you sell the gold.
When selling jewelry, be aware that most gold buyers will only pay you on the melt value. Many private buyers and pawn shops are only willing to give the 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.
If selling gold using a mail service, find out how much shipping will be. Many companies offer free shipping but charge more for mailing items back. Know what you’re up against before you mail anything away.
Try a site like GoldMoney to purchase gold. It is akin to establishing a bank account in which you deposit gold. You put money into it like any other account, (e.g. a savings account) but it’s converted into gold bullion. While the gold itself physically remains within a bank vault, you can deal with it as you see fit.
Know what you actually have in your possession. Not all pieces that appear to be gold are worth their weight in gold. Usually gold is mixed with other metals to give it strength. This will reduce the value. Many items are only gold plated. If don’t know what you’ve got, have it appraised before you sell it.
Get a jewelry appraisal before you consider selling it for scrap. Fine details and other clear signs of craftsmanship may result in a piece’s value being worth more than just the value of the gold itself. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. The appraiser may also know someone who maybe interested in your jewelry item.
Before selling your gold, contact your local Better Business Bureau. They’ll have basic resources for you such as reviews and complaints from other customers. You should especially pay attention to any customer complaints filed as well as what the resolutions were. If there are many unresolved complaints, or a huge number of overall complaints, think about giving your business to someone else.
Don’t sell your gold until you have to do so. Gold prices keep going up, and it’s high right now; however it might go up even more. You may benefit in the future by keeping your gold.
Anyone can invest in gold, whether you’re an expert or not you can place your money in this safe market. Now that you know a little about what you are doing, you can feel good about making a transaction in the gold market. Keep all of these things in mind when you need help with getting gold.