Gold generally trends up in price with a few downward fluctuations. Being that gold is highly sought after you can always expect that there will be a market for it. Values of such precious metals often skyrocket during times of economic uncertainty. Keep reading to discover how gold can fit into a smart financial plan.
When selling gold, it is a good idea to get an estimated value from more than one source. There are lots of services, jewelry stores and pawn shops that buy gold. Of course, they will want to make a profit when they sell it. By seeking multiple estimates, you are able to determine whether an offer is truly fair.
Hundred Ounce Bars
A great way to invest in gold is through bullion bars. These come in various weights. They can be found in sizes as small as a half-ounce or as large as four hundred ounce bars. For the record, four hundred ounce bars are very difficult to find.
Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. If this is not possible, make sure you get a written contract outlining when the items will arrive. The expected delivery date should not be a mystery; it should be clearly stated. Don’t buy without such a contract.
When you first check out gold jewelry, you may be in for a bit of sticker shock and decide to buy gold-plated jewelry, instead. However, don’t feel that to buy gold of real value you need to pay a high price in a fine jewelry store. You can get gold jewelry cheaper online or in pawn shops.
Look at the current gold market price prior to selling your pieces. This will help you set a fair price when you sell or buy. Many dealers will pay market value, however others rely on people desperate for cash to get the most for themselves.
Make sure that you understand the terms when sending jewelry back through the mail. Be certain you have a clear understanding of the timeline involved, and make certain your jewelry is insured. Make sure that you photograph each piece of gold you’re sending before you mail it off.
Be aware that it is possible to sell anything with a gold content to gold dealers. Gold pieces can be anything from jewelry to tableware, even home decor. In fact, a gold piece doesn’t have to be 100-percent gold to be worth something. It could be plated gold or it could be that just a portion of the item is made of gold. It’s still possible to make money this way.
Know what you have. Just because something looks like gold, that doesn’t mean it’s worth the full weight in gold. Other metals are often mixed with gold in order to provide strength. The price will be affected by this, often lowering it. This also applies to gold plated items. If you’re not sure about the value of your items, you should have them appraised before you try to sell.
Look around before deciding on purchasing from a gold buyer. You might be surprised by the price variants. Shaking hands with a buyer who brings you the first offer may actually shortchange you. Take your time so you can make the greatest return on your gold.
A cheap and quick way to test gold is to use a magnet. Precious metals, such as gold, are not magnetic. Sometimes, the only thing real about a piece of gold jewelry is the clasp. This method is good test for that.
Clearly, gold provides a reliable measuring stick for the economy. If you want to make money with gold, you must have a clear understanding of its value in the market. You must also establish clear financial goals to govern your dealings. Follow the advice presented here to make the most of the lucrative gold market.