Since the gold market is a safe place to money into, more and more people are interested in it. Investing in this market requires a great deal of knowledge up front. Read on for more valuable advice and insights to add to your investment knowledge.
Always use a reputable company when selling gold. Their reputation can be verified though online sources, as well as the BBB. A legit buyer will offer a fair amount for the gold you have. Don’t let yourself be taken advantage of.
Research a gold buyer before selling your gold. You can look at online reviews, check at the consumer protection organizations or read on message boards about complaints. When you get bids from multiple buyers, you may be able to get top value for the gold.
Consider selling gold online. You don’t need a storefront to buy and sell gold. Numerous websites exist on which to buy and sell gold. The site sends you a prepaid mailer to put the gold pieces in. They will pay you once you send the gold in.
Sometimes the cost of gold causes buyers to go for cheaper imitation jewelry instead. You can still buy gold jewelry without spending too much at the jewelry store. You are able to get gold cheaply in pawn shops or on the Internet.
Only buy gold jewelry from a seller if they have a return policy There are time where you may have to return the jewelry. If this happens, then you need to be returning the piece in question for a refund.
If you want to unload scrap gold pieces or jewelry items for cash, do your homework first. All stores won’t pay market price for your gold, since they are all in business to make a profit. This is because they must take into consideration their overhead and commissions when purchasing gold.
If you’re selling a gold item that has value beyond its weight in gold, you need to choose whether to sell the piece for its intrinsic value or its melt value. The quickest way to sell off gold (and the one many dealers and pawnbrokers prefer) is for the melt value. Don’t get discouraged since there’s a buyer out there that wants your pieces.
Avoid letting people know that you are planning to sell your gold. You don’t know who to trust or who is listening. Protect your investment in a secure home safe or in a safe deposit box. That way, your gold will always be secure.
Know what you have when it comes to gold. Even if something looks similar to gold, it may not have the same value. A lot of the time there will be something mixed with the gold so it holds up better. This has a detrimental effect on value. Also, some items may only be gold plated. Getting gold jewelry appraised is always a good idea if you want to be clear about the potential sale value it represents.
Use a magnet if you want a cost-effective way to determine whether or not the precious metal is real. Precious metals, gold included, are not magnetic. Many times you see the clasp gold plated but not the rest of the piece. The magnet will tell you the truth.
You should note that even if a whole piece of jewelry is not solid gold, the backs of earrings or clasps may be. Necklace clasps and ring bands are usually real as well. They don’t weigh too much so you may want to sell them all together. By selling them as a collection you will get a higher price.
Interest in gold has boomed recently and there is no sign of that changing. Before you get into unfamiliar territory, you should research carefully to start with. Apply the advice in this article and achieve the wealth you’ve always dreamed of.