Gold is a great investment to help balance your portfolio. Understand though that you must have an idea of what the entire gold market entails. This article will help you to understand what some of the advantages of gold buying and selling are.
Sell your gold online. Gold transactions do not require traditional physical storefronts. There are quite a few websites out there that will buy it. Contact the site, and they’ll send out a shipping kit so you can send them your gold. You will receive payment based on the current market value of gold when your items arrive.
Before you buy gold, be sure you know exactly when it will be delivered to you. Be sure you have your delivery date in writing. Immediate delivery is best. There should be a date listed for when you can expect them. Don’t proceed with the order until you have this information.
Look at the spot price of gold before selling. Doing so will help you figure out if a dealer’s offer is a good one or not. While dealers often give you market value, some are used to sellers wanting quick cash.
Get your jewelry appraised. This requires a bit of an investment, but it is worthwhile. Only use an independent, accredited appraiser to get the most realistic value. If you do want to sell the gold, understand you won’t be offered full value it was appraised for.
Be aware that any items containing gold can be sold to someone dealing in gold. Don’t overlook flatware, watches, jewelry and even broken pieces as potential sources of profit. It doesn’t need to be 100% gold either. It could be gold plated or a bit of gold and still be sold. Any amount of gold will get you back a nice amount of money.
If you decide to take any scrap gold or jewelry to local places that pay cash for gold, shop around. Many stores do not pay the going rate for gold. This is because they must take into consideration their overhead and commissions when purchasing gold.
Don’t sell to entities that are not licensed by the state to buy gold. They are likely to be honest. Never sell without doing research and verifying the dealer is licensed.
Always do your own research into the gold market before you make any investments. Some people swear they’re market experts and attempt to get you to invest with them. You must be extremely careful about any promises concerning getting rich quick. As long as you are reasonable and rational about these claims, you will find it easier to focus on the goal and the best way to achieve it.
Never sign a contract without thoroughly reading it first. If you sell gold through a mail-in purchaser, make sure you understand the terms of the deal. That way, you will be aware of the cut of your proceeds that will go to fees and commissions.
Do not sell your gold for scrap until you have it appraised. Fine details and other clear signs of craftsmanship may result in a piece’s value being worth more than just the value of the gold itself. Knowing the true value of a piece can make it well worth the cost of appraisal. An appraiser might even be able to help you sell your special item.
Many times the backs of earrings are solid gold, even if the earring itself is not solid. The bands to rings and necklace clasps are often times real as well. These sorts of items are often lightweight and should be sold as a collected lot rather than individually. A lot is a collection of separate pieces weighed and sold together; selling off jewelry in lots is often the best way to get maximum value.
Does gold seem like a reasonable investment to you now? It can keep your whole portfolio in balance. Learn why gold is a smart investment, and know the different risk levels between all the different choices.