“Golden Advice”: Top Tips For Gold Selling, Buying, And More

Gold is valuable the world round, and this has always been the case. Not everyone knows how to acquire gold, even though we all love it. If you are considering buying some gold, the following tips will be helpful.

TIP! When you decide to sell gold, you should get a few sources to give you an estimated value. There are quite a few stores selling jewelry or that buy it, and they sometimes make more money on the gold than you make on it.

Go with a legit buyer if you’re selling gold. Use resources like the Better Business Bureau and customer reviews. A legitimate buyer will pay you fairly for your gold while giving you great customer service. This can help you to be protected when dealing with gold.

Before buying or selling gold, know how precious metal prices work. Prices of precious metals fluctuate everyday, so pick a day to check on the spot price before you buy or sell. You must to pay a premium to the melt values if you’re buying less than one ounce pieces.

TIP! Bullion bars are hands down your best gold investment. Their weights can vary.

Conduct extensive research before you do business with a company specializing in gold. Look for online reviews and check the BBB website for complaints and resolutions. You have a better chance of getting the highest possible price for your gold when you obtain bids from a number of different gold buyers.

Anything that is gold can be sold. It may consist of decorative items, gold table ware, old items of jewelry and so on. An item need not be made purely of gold. Items with partial gold content, gold plating, or gold mixtures may still be valuable. You may still get a little of your initial outlay back.

TIP! When selling gold, sell to reputable buyers. Check with the BBB and look at reviews online before you sell your gold to a buyer.

If you’re going to sell scrap gold for cash, be sure you’re looking into everything. Some stores won’t pay the market price of gold, and it’s up to you to realize this. Stores which are not centrally located may be able to give you a better price.

Melt Value

TIP! Find out what the terms are before mailing off your old, broken jewelry. Know when they will send your payment out and get your package insured.

When it comes time to sell your gold, figure out if you would like to sell it for its melt value or simply as a piece. Pawn brokers and private sellers may just want to pay melt value. Don’t let this hamper you, because you’ll find the right buyer eventually.

On the day you are planning to buy your gold, check the spot price. The spot price can be found in many places, and it tends to fluctuate often. As you prepare to make a purchase, it is best to avoid any price with a markup of greater than 8 percent. Anything more is unethical.

TIP! You need to be cautious about the kind of gold that you purchase to help fund your retirement. The gold has to be IRS approved.

If you’re going to ship your jewelry to a mail-order buyer, know how much return shipping is going to cost you in the event you don’t accept their offer. A lot of companies say they offer free shipping, but if you refuse their offer they charge a great deal. Realize in advance that you’re out money to get back your jewelry.

As the article indicates, gold is a great commodity to have. Gold is good to invest in because it has a consistent value and even increases. You should start working on building your portfolio with some precious metals.