Gold has been valued for centuries. While we all love gold, we don’t all know how to determine its true value. If you want to start buying gold, then keep going further into this article to learn some helpful hints.
When you sell gold, you should obtain a type of estimated value from multiple sources. There are many buyers who purchase gold, but prices vary from one professional to the next. If you’re able to work with a couple of different places, you can see if you’re getting the best deal.
Understand the spot price of gold before selling any. If you are selling gold, sort it by karat so that it can be valued separately. Stay away from selling high-end jewelry pieces because they have more value.
Always use a reputable company when selling gold. Contact your local Better Business Bureau to see if there have been complaints filed against a gold dealer. A good buyer will treat you well and offer a fair price on your jewelry. Research helps protect you and your investment.
Look into selling gold on the Internet. You no longer need to visit a physical store to buy and sell gold. You can use one of many websites out there to sell your gold. Most sites work by mailing you a mailer or kit. You then use your mailer to ship the gold. They end up paying you once they receive it, but they usually won’t pay you a lot.
If you are going to buy a particular gold piece from any seller, be certain that you know exactly when to expect the delivery. If this is not possible, make sure you get a written contract outlining when the items will arrive. This should be spelled out in no uncertain terms. Don’t buy without such a contract.
You may be put off by the price of gold, making you go with gold-plated or gold-filled jewelry instead. You can still buy gold jewelry without spending a ton at a jewelry store. Online auctions, estate sales and pawn shops are only some of your options.
Before you mail off your gold, make sure that you understand the polices, fees and terms of the company you are dealing with. Insure your shipment, and get a solid confirmation of when you can expect to be paid. Take a photo of all the items you are sending so there will be no questions later.
When it comes time to sell your gold, figure out if you would like to sell it for its melt value or simply as a piece. Usually, you will only get the melt value from both private sellers and pawn shops. Don’t let this hamper you, because you’ll find the right buyer eventually.
You can use a magnet to test precious metal inexpensively. It is true that precious metals are not attracted to magnets. In some cases, individual parts of a piece (like the clasp) may be solid gold while other parts are plated. Using a magnet is an excellent way to find this out.
If you attend a gold party, you want to ask the representative how the value of the jewelry is determined exactly. Many times you will see the item have a stamp on it. Other times, though, there are no outward signs, and therefore representatives rely on other techniques. If you see the gold buyer performing an acid test, this is probably somebody who is inexperienced in this market.
It is obvious that gold is not only a prized possession, but also a valuable commodity that can easily be traded. Gold can even gain more value if you keep it for a long time. With this knowledge behind you, you can start collecting gold right away.