If you’ve been paying attention to recent trends in gold markets you will see that there it has had an influx of all different types of investors recently. Clearly, it is important to learn as much as you can to succeed with gold trading. Continue on to begin your path towards understanding the gold market.
Get valuations for your tangible gold from a handful of dealers at a minimum. From pawn shops to jewelry stores, each location will charge a different premium on gold. By shopping around, you will get a better idea of what the gold you are selling is really worth.
If you want to send jewelry to a gold company via mail, check them and their conditions out carefully before going to your post office. Know when they will send your payment out and get your package insured. Lastly, take pictures of all items you’re sending so you have proof in the event of a dispute.
Is it better to sell your gold jewelry for melt value or as jewelry? Pawn brokers and private sellers may just want to pay melt value. If you want to sell your gold as a jewelry item, you should keep looking for a good buyer.
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. Shipping to them is free, but the cost to get your pieces back is often massive. Realize in advance that you’re out money to get back your jewelry.
Only sell to buyers that have a state license to buy gold. This does not prevent you from getting scammed, but a licensed buyer probably has a better reputation. Do not be forced into selling to the first buyer you find if you are not happy with the terms on offer.
If you don’t want to worry about storing, shipping and insuring your gold, consider buying GoldMoney instead. It can be compared to “gold bank accounts.” You just sign up for your account, fund it and then you will be assigned gold. The gold will physically sit in the bank where you can cash it, portion it, or in some circumstances, you can redeem it for gold bullion bars that weigh a kilo.
No matter the excitement gold buying brings, do not spread the word. The fact is that some people just aren’t trustworthy. Keep your gold investments to your own self, locked up and secure. Consider a bank lockbox or a safe at home. In this way, you can be sure your gold investment is safe.
Understand what you really have. Even though the item looks like gold, it may not have much value. Usually other metals are combined with gold to provide more strength. This can make the price a lot lower. The same goes for pieces that are gold plated. If you don’t know what you have, have it appraised before trying to sell it.
Do your research before selling gold. You should shop around to get an idea of what others are offering for similar gold pieces. You will get a realistic idea of what you can expect to receive for your jewelry. In order to be able to negotiate, you ought to give a price above the amount you really want.
Shop around before making any decisions about a gold buyer. You will get many different amounts. By picking the first dealer, you could get a horrible deal. Invest the time into the process, and you will be rewarded in the end.
A magnet can be used as a cheap and fast way to determine if a piece is really made of gold. Real gold won’t stick to a magnet. The clasp may be solid gold, but it’s possible that the piece is almost entirely gold-plated. A magnet can help test jewelry quickly.
It shouldn’t be a shock that gold’s potential to safeguard personal resources is very high. Maybe you want to learn more. Taking what you learned here and using it towards your own gold market strategy, succeeding in this area is within reach.