Ever since gold was discovered, it has been a hot commodity. Most people like gold, but many people don’t know how they can invest in it. If you want to start buying gold, then keep going further into this article to learn some helpful hints.
When selling gold, sell to reputable buyers. There are several ways to find out about their reputation, such as online reviews or Better Business Bureau filings. Do not do business with a buyer who does not treat you as a valued customer or does not offer a fair price. Protect your gold investment by doing this.
Try selling gold online. Visiting a broker to make a gold purchase is no longer required. You can also choose to use an independent online site to that specializes in buying gold. Such sites will send kits in which you mail back your gold. If everything works according to plan, you will get paid at market prices.
Before you buy gold from a dealer, get a guaranteed delivery date. Always get a timeline in writing of when your gold pieces will be delivered if immediately delivery is not provided by the seller. Your expected receive date should be listed. Only complete the order if given this documentation.
Take your old gold that you want to sell to a number of different gold-buying companies before settling on one. While the market quotes a price, not all companies actually pay close to that price. Look for stores off the beaten path as they often have lower overhead and better deals.
You can get varying prices depending on how you sell it. You may get more if you can wait to sell it to a buyer who values it as a beautiful piece of jewelry. It may take longer to find the right buyer, but you will get more money this way.
Only make a sale to buyers who hold a state license in buying gold. Although anyone could rip you off, the chances are slim when working with someone who is licensed. There is no shortage of places to do gold trading, so don’t feel pressured to take the first offer you get.
Although buying gold is exciting, don’t talk to people about this. You have no way of knowing who might overhear your conversation and who is truly trustworthy. Protect your investment in a secure home safe or in a safe deposit box. This protects you as well as your gold.
Investigate several gold dealers before choosing one to do business with. You’ll be surprised by all the different offers you’ll get. If you accept the first deal offered to you, you might be sorry. Invest the time into the process, and you will be rewarded in the end.
A fast, cheap way to test for gold’s authenticity is to use magnets. Real gold won’t stick to a magnet. The clasp may be solid gold, but it’s possible that the piece is almost entirely gold-plated. This method is good test for that.
Talk to the BBB before selling your gold to a jewelry store, dealer or gold buyer. It has basic company information on them, along with complaints and reviews from those that have dealt with them. Keep a close eye out for any complaints not fully resolved. Too many complaints are a warning sign and it’s a business you should definitely avoid.
When selling gold, categorize it by karat weight. When you start weighing gold at the time of sale, vendors might attempt to weigh all the pieces as once and claim they all fall under the lower weight. That will result in a lower payout for you. Be safe and maximize your value by having all the gold separated before dealing with the buyer.
You can actually sell your gold through the mail! This does not involve posting any advertisements or going into different shops. You ship your jewelry in a prepaid envelope, and then you receive a check. But, keep in mind that such enterprises tend to offer lower prices than some competitors. A seller might offer you as little as 30 percent of the value, so be careful.
Clearly, gold is a treasured commodity that has extraordinary trading value. Gold is good to invest in because it has a consistent value and even increases. Armed with your new knowledge of gold investing, you should be ready to get going with gold right away.