Gold is always valuable and the fluctuations of this precious metal are easy to predict. If you’d like to enter this great market, know that you can eventually sell and buy gold like big-time investors. By following the tips presented here, you can earn a good profit selling gold.
Before you buy gold from a dealer, get a guaranteed delivery date. If your seller can’t commit to immediate delivery, get the delivery date in writing. This should include the date the gold will arrive to you buy. Do not finalize your order until you receive written confirmation.
Make sure that you understand the terms when sending jewelry back through the mail. You should find out how long the process takes, and get package tracking and insurance on your package, too. Lastly, write down and also photograph everything you send to this company just in case you have a disagreement.
If you take jewelry or scrap gold to local companies that will pay for it, shop around. While spot pricing is the national standard, most stores don’t honor it. Stores that aren’t in big shopping malls tend to have much lower rent and may pay more.
When selling any gold, you have to decide if it will be as jewelry or for its melt value. Pawn shops and many private sellers are only looking to pay the melt value. However, if you are patient, you will find a buyer who is willing to pay top dollar for your jewelry.
Before selling you gold through the mail, be sure you know what the procedure is for getting your items back and any costs involved in doing so. A lot of companies say they offer free shipping, but if you refuse their offer they charge a great deal. Know what this cost is before you mail your items.
Sell only to gold buyers who are licensed by the state. While you can still get taken for a ride, licensed buyers tend to be more reliable. There are many people who will buy your gold, but some are out to rip you off.
Go over the fine print of the contract offered by your buyer. If you’re trying to sell gold to people through the mail, then you have to go over the fine print carefully before you sell gold. You can then ascertain the amount of fees and commissions you will be charged.
Before you sell your gold as scrap, it is wise to have it appraised first. This is an absolute must-do if you are selling unique, handcrafted pieces of jewelry. You may have to pay for the appraisal, but it might help you get more money. Appraisers also may know of an interested party for your precious jewelry.
You can make gold investments without owning gold. You can put your money in a gold exchange traded fund. You also buy stock in a gold mining company. There are also mutual funds that focus on gold. If you opt to buy gold coins or bars, you should consider how you will store your gold.
You should now know a little more about selling and purchasing gold. Remember that you must be willing to commit to some hard work to trade gold successfully. Put the above tips to use if you want to be properly prepared.