Gold is a major player on the financial landscape. In order to be sure you are in control of your gold investments, you need to learn all about it. There are many aspects of the gold market to consider. You might purchase gold or simply buy shares in a company. This article explains the basics of investing in gold.
Do not sell your gold without first knowing what it is currently worth. If you make the decision to sell gold, separate your pieces by purity level. Never sell any jewelry as gold scraps that’s worth more than the gold itself due to the designer.
Go with a reputable gold vendor when selling. There are several ways to find out about their reputation, such as online reviews or Better Business Bureau filings. If you are being offered good customer service and an honest price for the gold, then you are dealing with a reputable buyer. Protect your invest and look into these companies.
Investigate the proposed delivery schedule when you are considering make a gold purchase. If the person selling you the gold does not deliver the product right away, it is necessary for you to obtain a written estimate of when your items should arrive. There should be a date listed for when you can expect them. Only go through with your order if you obtain this document.
Look at the spot price of gold before selling. This way you will know if a dealer is offering you the proper amount for your items. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.
When you buy some gold jewelry for another person, make sure they have a refund policy. It’s almost impossible to determine the value of your gold jewelry just by looking at it. If that happens, you want to be able to take the piece back for a refund.
Get your jewelry appraised. The up front cost is significant, but it can give you a better estimate of value. If you want to obtain an unbiased value, retain the services of a certified appraiser. Understand that you’ll be paid less than the appraisal value of your gold by gold buyers, however.
Find out if the firm you are mailing your gold to will ship it back, and how much that will cost. Most companies will advertise free shipping, but they often charge a lot to put the items back in the mail. Realize in advance that you’re out money to get back your jewelry.
Be careful in the gold market. Markets all have their share of unscrupulous players, but gold is a market that seems to have many. Lots of folks are willing to steal right out from under you. Because of this, you need to be extra cautious and really research.
Know exactly what you have. Even though the item looks like gold, it may not have much value. Other metals are frequently put together with gold in order to make it stronger. This can make the price a lot lower. This also applies to gold plated items. If don’t know what you’ve got, have it appraised before you sell it.
When dealing with any gold buyer, make sure you shop around before making any final decisions. You will get many different amounts. If you go with the first buyer that you meet, you may end up with the worst deal possible. Spend the required time to comparison shop before making any decisions.
A quick and inexpensive way to test a piece of gold or precious metal to see if it is real, is by using a magnet. Real precious metals do not stick to magnets. There may be times when an item of jewelry has a solid gold clasp, but the rest of the item is only gold plated. You can test your jewelry this way.
Now you know more about gold than you did before reading this piece. With luck, you are now empowered to make some good choices about fitting gold into your portfolio. Use what you’ve just read to become the successful gold investor you’ve always wanted to be.