Most serious investors have a slice of their overall portfolio in precious metal commodities. Additionally, one of the better commodities is gold. No matter if it’s put away for the future or perhaps you seek profits in the short-term, the following article about gold offers a wealth of information.
Gold prices change all of the time, so make sure you are aware of the value before you try to sell any. If you choose to sell gold, weigh and value pieces that have different karat values separately. Because the jewelry you sell will be melted down, keep pieces that are more valuable because of the designer name.
Buy Gold Jewelry
If you feel that gold is too expensive, you may be tempted to purchase gold-plated as an alternative. However, it’s still possible to buy gold jewelry and not need to spend a fortune at the jewelry store. You can buy gold jewelry more cheaply in pawn shops or online.
While you may be very tempted to quickly send off your old gold scraps and jewelry to a business that buys gold through the mail, do your homework about the company first. Find out when you will receive your money, and never send your package without insuring it first. Take pictures of anything you send so that you can settle any disputes that may occur later.
When buying gold jewelry for another, make sure you can return it. It’s not uncommon for many pieces to not be the receiver’s taste or the wrong size. If the gold turns out to be fake, make sure you get your money back.
Realize that all items containing gold have some sort of resale value to dealers. There may be broken home decor, tableware, jewelry, or other things that are around you. Note that these items need not be pure gold. It just needs to be plated or maybe only a part of it’s gold. It’s still possible to make money this way.
Be sure to consult the spot price on the day when you plan to purchase gold. You can see it on various sites and it usually changes every day. Only place your order if you can find a dealer willing to sell for an 8% markup or less over the spot price. Anything more is unethical.
When sending off your jewelry, you need to consider the shipping cost to you if you’re not satisfied with the offer given. While businesses may claim free shipping, they may also charge you to send the pieces back. Know what you’re up against before you mail anything away.
Make sure you are know exactly what you have. Not all pieces that appear to be gold are worth their weight in gold. Other metals are frequently put together with gold in order to make it stronger. That can make it less valuable. Gold plated items are subject to this too. Have an appraisal done on large amounts of jewelry or gold whose value you are uncertain about before selling it.
Now you should know a little more about gold trading. Improve your portfolio or make yourself some money by using these tips. You can trade gold more confidently after learning this information.