Let Your Portfolio Shine With These Gold Tips

Many people love gold, but don’t know much about it. To make money in gold investing, it is important to know what you are doing. If you happen to be someone that isn’t knowledgeable about gold, then the tips presented below will be of tremendous value to you.

TIP! Bullion bars are an excellent investment. They are available in various weights.

Never deal with a gold buyer or seller who does not have a favorable reputation. There are several ways to find out about their reputation, such as online reviews or Better Business Bureau filings. A legitimate buyer will pay you fairly for your gold while giving you great customer service. Don’t let yourself be taken advantage of.

Investigate the proposed delivery schedule when you are considering make a gold purchase. If your seller can’t commit to immediate delivery, get the delivery date in writing. There should be a date listed for when you can expect them. Don’t go through an order without this documentation.

TIP! When you sell gold, deal with a reliable buyer. Contact your local Better Business Bureau to see if there have been complaints filed against a gold dealer.

Before you mail any jewelry to a particular company which purchases such items, be sure to do your homework and check out the company thoroughly before you do so. You should be clear about when you can expect to be paid. Insuring your gold shipment is a good idea, too. Lastly, write down and also photograph everything you send to this company just in case you have a disagreement.

If you are buying gold as a form of a retirement fund, make sure to buy the right kind. It has to be given the stamp of approval from the IRS. It has to be in the form of 24-karat gold bullion or coins. Consider bars more than coins, since they have more value.

TIP! When you are selling gold, you need to decide whether you want to sell it as a piece of jewelry, or for the melt value. Usually, you will only get the melt value from both private sellers and pawn shops.

You can get into the gold market with just a small investment in scrap gold. If you do this on a regular basis your collection would grow quite quickly. Keep the gold somewhere secure until you’re ready to sell it.

Melt Value

TIP! Sell only to gold buyers who are licensed. Most states require that dealers be licensed when dealing with the buying and selling of gold.

Is it better to sell your gold jewelry for melt value or as jewelry? The quickest way to sell off gold (and the one many dealers and pawnbrokers prefer) is for the melt value. Selling your unique gold pieces to a collector can end up netting you more money.

If you think you’re going to mail off your jewelry, you should see what it’s going to cost to have things mailed back if you don’t like their offer. Many companies will pay for your postage when you send but charge a high price when they return the piece to you. Know what this cost is before you mail your items.

TIP! Know what you are working with. Everything that appears to be gold isn’t worth its own weight in it.

GoldMoney is a popular resource to use in gold buying efforts. You will own some actual gold, but it won’t be in your possession. Set up the account, deposit some funds, and you get gold at the price that correlates to the account. Instead of keeping up with the gold in your own home, it is stored in a secure bank vault. You can cash it out, divide it, or redeem it.

While many people like gold, few of them know anything about it. Since you’ve read the article above, you should be better educated. Use this information and make sure you use it so you can make smart choices about gold.