Gold’s value changes often, but always goes up. You can always find a market for gold and other precious metals. Gold generally does especially well in economically uncertain times. By reading on further you can find out how to best trade to your advantage.
When you sell gold, deal with a reliable buyer. Check BBB.org to find out more about the firm. A reputable buyer will typically pay you a fair price for your gold, and they will offer better customer service than less reputable buyers. Protect your interests and your gold by doing this.
Think about selling gold on the Internet. You don’t need to have a physical store location anymore. There are plenty of websites that are ready and willing to buy your gold. Such sites will send kits in which you mail back your gold. They will pay you once you send the gold in.
Arrange for delivery of your gold at the time of purchase. If a seller gives you anything other than immediate delivery, you need to have some kind of written contract or guarantee when your pieces are arriving. This should include the date the gold will arrive to you buy. Do not complete the order unless you have this in writing.
If you want to start investing in gold but don’t have much money to get started, think about buying scrap. Just keep buying a little every time you get paid, over a year or two you will accumulate quite a little pile. Keep it inside a safe location until you get enough to cash in.
Only buy gold jewelry from a seller if they have a return policy What if it doesn’t fit? If that happens, you want to be able to send the jewelry back and get your money back as well.
Get an appraisal to find out the exact value of your jewelry. This adds an up-front cost, but it could save you a lot of money later. Make sure that you get a truly realistic value from an appraiser that is accredited. If you do want to sell the gold, understand you won’t be offered full value it was appraised for.
Check the price when you are buying gold. A number of websites feature this information, and it changes daily. Never pay more than 8 percent over the current sales price of gold. There are dealers who attempt to charge a higher amount, but they are unethical and simply overcharging.
If you plan to mail your jewelry, be sure that you find out how much the return postage will cost if the price offered you is too low. A lot of companies say they’ll let you ship for free, but to get things back they charge quite a bit. It’s best to be prepared so you are not surprised by return shipping charges.
Do your research before selling gold. It’s also a good idea to research what similar pieces have for asking prices. This lets you determine a fair market value starting price point. Always ask for a bit more than you really want in order to allow for negotiation.
Gold is usually a good investment, but there are no guarantees. If you’re not wanting to stomach the ups and downs, then you need to steer clear. If your stomach can handle the rough ride, you should still protect yourself from losing too much money. Only invest a small amount into gold. 5% is a good amount.
One thing to see if you can get cheap gold is to see if you know anyone that has broken jewelry for sale. Buy a jewelry scale, see how much the gold weighs, and offer 5 percent more than they would get on the open market. You’ll still come out ahead.
As you likely know, our economic system weighs itself against gold. To take advantage of this market, learn all you can today. Apply the advice above to get your foot in the door when it comes to gold investing.