Let Your Portfolio Shine With These Gold Tips

Gold is a highly prized metal. Ever since gold was discovered, people have treasured it. If you’re trying to figure out how to get into buying gold, or you just want some jewelry, then you’ll find the following tips to be useful.

TIP! When you decide to sell gold, you should get a few sources to give you an estimated value. Several gold-buying services and jewelry stores get different profits for the gold they buy.

It is possible to sell gold online. Gold trading doesn’t necessarily have to happen at an establishment with walls. There are plenty of websites that are ready and willing to buy your gold. The online business will provide you with a special kit that you can use to send your gold pieces. They will pay you once you send the gold in.

Know what you are working with. Just because something looks like gold, that doesn’t mean it’s worth the full weight in gold. Quite often, other metals are mixed with gold to give some strength to the metal. This will lower it’s worth. Gold-plated items apply the same principle. If you don’t know exactly what you have, consider an appraisal.

TIP! If you want to send jewelry to a gold company via mail, check them and their conditions out carefully before going to your post office. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured.

You can easily test whether a gold piece of jewelry is real by using a simple magnet. If it is a true precious metal, it will not adhere to the magnet. Sometimes only the clasp is solid but the rest is plated. A magnet is a good tool for discovering fake gold.

Figure out what all of the fine print means when you’re working with a sales contract. This is especially important if you decide to sell some of your gold items through a mail-in program. That way, you will be aware of the cut of your proceeds that will go to fees and commissions.

TIP! Only buy gold jewelry from a seller if they have a return policy You have no idea if the person for whom you are purchasing the piece will like it or if it will fit. If you have the receipt, they can easily trade in the piece for something more to their liking.

Have your pieces appraised before you sell them as scrap gold. This is particularly true for unique pieces that have exquisite workmanship and design. While you will probably pay to have an appraisal on your gold, this can certainly increase profits further along the way. A credible appraiser can probably connect you with someone who is likely to be highly interested in what you have to offer.

Many times the backs of earrings are solid gold, even if the earring itself is not solid. The bands to rings and necklace clasps are often times real as well. Since such pieces often weigh little, attempt selling them in a “lot”. A large quantity can assist you in profiting better from them.

TIP! Find out the spot price for gold on the day that you’re planning to buy. This can be seen at numerous websites, but keep in mind it can often change.

To make sure you’re getting a good deal and protecting your security, research your gold buyer prior to selling. This is a must if you choose to use a mail service that’s in a different state to sell your gold. Check the BBB’s website to see if there have been any complaints lodged against any company that you’re thinking of using.

A way to get gold at a great price is to simply ask your relatives if they want to sell broken gold jewelry. Get yourself an accurate scale that can weigh the jewelry so you know how much to offer your relatives and still make a profit from the deal.

TIP! Be sure you know about the gold in your possession. Not everything that looks like gold is worth its weight in it.

Figure out what you want from buying gold before putting your money into it. Gold is a great hedge against economic instability and inflation, but it can be a volatile investment. As long as you establish limits regarding exposure and make certain your goals are clear, you stand a good chance of doing well.

If you’re thinking about selling gold online, confirm the prices prior to proceeding. Frequently, a local dealer who has a physical presence will provide a better deal. Although shipping it may seem easier, consider your profit before you do anything.

TIP! Sending your gold away via postal mail is one option for selling it. Lots of sellers like this because it’s convenient.

Now you understand what makes gold so valuable and why it’s sought after by people around the world. Gold is smart as an investment and beautiful as a piece of jewelry. Follow the tips presented here to amass your own gold collection.