If you have wanted to make a gold investment before but have not done so, you are in the right place. There isn’t a reason to get intimidated by gold; you should know that by learning about it, it’s easy to deal with. There are many perks to investing and dealing with gold if you know what to look for.
When you invest in gold, it is a good idea to go with buillon bars. There are numerous sizes available. From .5 ounces to 400 ounces, the choice is yours. However, the really big bars are very hard to come by.
Go with a legit buyer if you’re selling gold. Get with the Better Business Bureau or check out reviews online if you’d like to learn about someone’s business. Good customer service and fair market prices are good indicators of reputable buyers. Do your homework in order to safeguard both you and your financial investment.
If the gold price is not to your liking, perhaps going with gold-filled or gold-plated jewelry is something to consider. Before settling for a gold plated piece, understand that there are great deals out there on solid gold jewelry. Try visiting a pawn shop or looking online instead.
If you are looking to gold as a retirement vehicle, be certain you invest in the proper kinds of gold. Your gold has to be IRS approved. This means it needs to be in the form of coins or bullion that is marked 24 karats. Over time, gold bars appreciate better than gold coins.
Be sure to consult the spot price on the day when you plan to purchase gold. The spot price can be found in many places, and it tends to fluctuate often. When you buy, don’t pay over 8% markup over the price. If you find a dealer asking for more than 8%, they’re overcharging and may not be ethical.
As exciting as buying gold can be, avoid telling people about it. You really don’t know who can be trusted when it comes to your investments. Keep it to yourself and protected, either with a decent home safe or in a bank. This protects you as well as your gold.
Have all jewelry appraised before selling it as scrap gold. Fine details and other clear signs of craftsmanship may result in a piece’s value being worth more than just the value of the gold itself. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. A credible appraiser can probably connect you with someone who is likely to be highly interested in what you have to offer.
Sort your gold by karats into groups if your are planning on selling it. Gold values differ by karat, so if they are weighed together you will not get all it is worth. Gold with higher karat value is worth more money.
Gold prices have increased by over 400 percent in the last decade which is good if you own gold. The changes in currency value affect the value of gold. In general, when the dollar is weaker, gold prices tend to rise.
Learn how to verify the quality of gold pieces. The purity of gold is measured by karat. Gold’s value by weight increases with its purity, and purer gold receives a higher karat rating. Never go by the stamp stating karat weight. You won’t pay too much for poor quality when you know the methods to testing gold purity.
If your gold pieces are going get melted down, you probably have the option of retaining any small gems currently in them. The seller may not be able to remove them easily if the gems are small, though. Most dealers are not interested in very small gems, as they hold no value when a piece is melted down.
You should understand you will not get 100% of the value of your gold when selling. A gold dealer must make a profit just as any other business must. They must make money, so there needs to be some room in that purchase price for doing so. When selling your gold expect to get between 50 and 70 percent of its value.
Now you have the knowledge you need to start off on the right foot. The ideas presented here can get you started in gold investment. You will be glad you did.