If you wish to be a gold investor, then you have definitely made a decision that brings balance to your investment portfolio. However, you have to know what you are doing, and you have to think about the choices available to you. Keep reading to see why gold is a valuable and great investment strategy.
Get valuations for your tangible gold from a handful of dealers at a minimum. Gold buyers and jewelry stores are out to make a profit, so they’ll all pay less than the actual value of the gold you’re selling. When you get an estimate from more than one, you can help to ensure you’re getting a fair price on the gold you’re selling.
Bullion bars are hands down your best gold investment. The weights vary. They start at a mere half-ounce, but also rise as high as four-hundred ounces. The smaller bars are more common, while the larger ones are harder to find.
Do you know how pricing on precious metals works? The value of gold tends to fluctuate, which is why it is important to understand the market trends. You also will have to pay more than melt value, but you will sell below melt value.
You can sell gold online. Gold dealing is no longer something that takes a brick and mortar store. You can use one of many websites out there to sell your gold. Such sites will send kits in which you mail back your gold. If the transaction goes smoothly, they’ll give you a quote and you can either accept or decline the offer.
Look at the current gold market price prior to selling your pieces. This will help you set a fair price when you sell or buy. Most dealers are honest and stick close to market value, but a minority try to rip desperate people off by low-balling their offers.
Make sure that you understand the terms when sending jewelry back through the mail. Find out when you will receive your money, and never send your package without insuring it first. Take a photo of what you mail to battle against disputes down the road.
Understand that gold dealers are interested in all gold items. From broken jewelry to gold fillings, it can all be sold. It is not really necessary for these items to be solid gold. It could be part of an item that’s gold, or just gold-plated. You will still get a favorable return.
Figure out what return shipping will cost if you don’t like the offer the mail order gold buyers are willing to give you. The majority of companies pay for you to send the jewelry to them, but they charge high fees to return it to you. Know what this cost is before you mail your items.
Never sell to an unlicensed gold dealer. You could still have a problem, but licensed buyers are more likely reputable. Do not be forced into selling to the first buyer you find if you are not happy with the terms on offer.
You need to know what you’ve got. Just because something looks like gold, that doesn’t mean it’s worth the full weight in gold. Sometimes other metals might be mixed into gold to make it stronger. The less gold, the less value. Also, some items may only be gold plated. If you are not certain about what you have, an appraisal before selling is wise.
Hopefully, you feel like gold has a place in your portfolio now. It be a good supplement to your other investments, to go along with your mutual funds, stocks and savings. Now that you’re more knowledgeable about investing in gold, you understand how it can help your entire financial portfolio.