Gold has been valued for centuries. Lots of people are obsessed with gold, but not everybody can make a smart gold trade. If you are thinking of investing in gold, continue reading to gain insider’s knowledge to the gold investment market.
Bullion bars are a great way to invest in gold. These come in various weights. The bars vary in size from half an ounce to 400 ounces. It isn’t easy to get the big bars, though!
Go with a reputable gold vendor when selling. You can check out their reputation by contacting the BBB and checking online reviews. A buyer with a good reputation will normally pay the going rate for gold, and offer superb customer service than a company than is not legitimate. Protect your interests and your gold by doing this.
Research a gold buyer before selling your gold. You can always find online reviews, inquire with the BBB and learn how each vendor handles complaints. Soliciting multiple bids will help ensure you get the best price.
When you plan to buy gold, make sure you look at the spot price. This information is available on a number of websites. Never pay any more than an 8 percent markup on the gold prices. Paying that price would simply be unfair to you.
Sell only to gold buyers who are licensed by the state. Licensure is not a guarantee of credibility, but it is certainly a good indicator. There are a number of people out there willing to buy, so avoid thinking you have to go with the first buyer you see.
Though purchasing gold is thrilling, don’t go around telling everyone about it. You may accidentally be overheard by a thief. Protect your gold by storing it somewhere secure. That way, your gold will always be secure.
Be fully aware of what you have. Appearance alone is not an accurate gauge of the value of your gold. Usually, there are other metals mixed with gold for stability. This has a detrimental effect on value. The same goes for pieces that are gold plated. If you are unsure of what you have, you may want to get it appraised prior to going to sell it.
When you’re selling your gold, you have to do the proper research. Also, ask around to find out how much similar pieces are going for. This will give you a price point to work with. Ask a bit above it to give room for negotiation.
Shop around before you decide which gold buyer you will use. You might get surprisingly different offers that reward your patience. If you don’t shop around, you may not get what you are owed. Instead, do your research and get the most for your gold.
Talk to someone at a gold party to learn how they figure out the number of karats in a jewelry piece. Many times you will see the item have a stamp on it. Sometimes, though, an eye test is insufficient and buyers have other ways of making that determination. Acid tests are simple ways to do this, so if the rep does this, they’re probably new to the business.
As you’ve read, gold is a precious commodity in a market that you can easily get into. Investing in gold helps you make money over the long term. Now that you know more about gold and how to acquire it, get started on creating your own collection of gold today.