Lots of folks buy gold because they see it as a safe investment. When the equities market is headed down, gold will remain high. If you want to learn more about the market, read on.
Look at the spot price of gold before selling. That way, you will know if you are being offered a fair price for the items you have. Although there are many honest gold dealers out there, there are also those who will try to offer you much less than it is worth.
Get your jewelry appraised. Although you’re spending some money up front, at least you’re getting fair market value for your items. And make sure you only hire an independent and accredited appraiser to be sure you get an honest appraisal. When selling gold jewelry, you will receive only a percentage of the appraised value.
Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. While spot pricing is the national standard, most stores don’t honor it. The stores located outside of shopping malls and other similar places don’t have as much overhead, so they might be able to pay more.
Never sell your gold to someone who does not have the appropriate state licensure. You could still have a problem, but licensed buyers are more likely reputable. There is a lot of competition out there, so you can sell to someone else if you’re not happy with the first offer.
Gold is a lot of fun to purchase, but refrain from announcing it to everyone. Anyone could be listening at any time, and you cannot trust everyone. Keep it to yourself and protected, either with a decent home safe or in a bank. That way, your gold will always be secure.
Thrift shops, antique stores and estate sales can be fantastic sources for finding gold jewelry at a good price. You can find bargains in those places when you’re aware of what you want. Many people do not realize what they have and sell it or donate it to these shops. If you’re educated on how to make these finds, you can score some great deals.
When you attempt to sell gold, make sure you know the current market prices. Also, it might be beneficial to compare prices and see what others are selling similar items for. In this way, you will have a good idea of how to price your gold. Start the bidding a bit above what you really want. That way, the buyer can negotiate a little.
Look around before deciding on purchasing from a gold buyer. The different prices you receive might shcok you. If you take the first offer, you might get the worst deal ever! Invest the time into the process, and you will be rewarded in the end.
Earring backings are usually solid gold, no matter if the earring is or not. Quite often, necklace clasps and ring bands are real too. The weight is low, so sell these items together. A lot is a collection of separate pieces weighed and sold together; selling off jewelry in lots is often the best way to get maximum value.
Check with the BBB before you sell gold to a dealer, jewelry store, gold buyer, etc. They have rudimentary information about listed businesses, as well as reviews from clients who have traded with them. You definitely want to notice any complaints, whether resolved or not. If they have a ton of complaints or many that are unresolved, you should consider a different business.
Gold prices continue to rise. The value of the dollar directly correlates the value of gold. The weaker the dollar is, the stronger gold prices are.
Getting into the gold market is not that difficult if you understand how the market works. The tips above have given you the necessary information. Remember to make full use of all the information at your disposal in order to make savvy investments.