Should you be a serious investor, it is important to include commodities within your portfolio. Gold is the most valuable commodity available. This article will help if you are interested in having extra money for retirement from gold or any other reason.
It is possible to sell gold online. You don’t need a storefront to buy and sell gold. You can buy and sell your gold at many websites online. Such sites will send kits in which you mail back your gold. They will pay you their standard per ounce price for your gold.
Go through thrift shops and antique stores looking for gold. When you know what to look for, you can find a great deal. Often, gold ends up in stores like this because the original owners didn’t realize the items they had were valuable. If you are smart, you can make a great profit.
An inexpensive and simple way to see if an item is gold is with a regular household magnet. If the piece is real gold, the magnet will not be attracted to it. Often the clasp of a piece is real gold, while the rest of the piece is just plated. Magnets will let you tell the difference.
Have all jewelry appraised before selling it as scrap gold. This is particularly important for unique pieces with detailed craftsmanship. You may have to pay for the appraisal, but it might help you get more money. A professional appraiser can also point you towards potential buyers for high-quality gold jewelry.
A lot of times, earring backs are gold, even when the earrings themselves are not. Necklace clasps and ring bands often are too. These pieces don’t weigh much, so try selling them all as a “lot.” The more you have, the more they will weigh.
Before selling your gold, contact your local Better Business Bureau. You will see if there were any complaints and be able to read reviews from consumers who have conducted business with them. Look at any past complaints customers may have had and how they were resolved. If you see that there are a lot of unresolved complaints, you may want to go with someone else.
Before selling your gold, separate it into different karat weights. Some vendors may try to weigh all of your items at one time and pay you for the lowest karat. They will rip you off. Separating the gold before you go prevents this from happening.
When working with gold dealers, make sure to read all of the fine print you are given. A lot of money is exchanged in this business. You have to protect your investment, too. If you don’t like the terms, be prepared to move on. Find a broker you are comfortable with rather than signing a sub-par deal.
Be sure to choose a solid dealer with a good history. To ensure you are dealing with a trustworthy dealer, inquire with the area BBB. The BBB can tell you if the dealer has had any complaints. If a dealer has complaints files against him, go with another one.
Be sure to find out about a buyer who may purchase your gold in order to be protected. This is a must if you choose to use a mail service that’s in a different state to sell your gold. Be sure to check the BBB for listings of reputable and reliable gold purchasers.
Never agree to buy or sell gold online without first verifying the prices. Frequently, you can find a better deal at a physical business of a local dealer. Sending your gold in by mail may be much more convenient, but you’re going to end up losing money!
Now that you have read this article, you hopefully learned a few things you didn’t already know about dealing in gold. Use these ideas for improving the investment portfolio or making money with just gold. To be successful with gold, keep these tips in mind.