Top Tips To Get The Most Out Of Buying And Selling Gold

Investing in gold is a great decision that can balance out your portfolio’s risk. However, you should have information to help you along the way. Continue reading to find out more about why gold is such a great and valuable investment strategy.

TIP! When you sell gold, get an idea of value from a number of sources. Gold buyers include all types of businesses ranging from jewelers to online companies.

Research the current market price of gold before you attempt to sell your old and unwanted jewelry. This allows you to evaluate a dealer’s offer against the current market rate. A lot of dealers provide you with market value, but there are some who will just assume you want quick cash and will make a deal that is best for them.

Be sure you research a company before sending them gold in the mail. Ensure you understand the reimbursement terms, and don’t neglect to purchase postal insurance for the package. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.

TIP! The price of gold changes often, so you need to know the value of your gold before attempting to sell it. If you sell gold, pieces that have various karat values need to be valued and weighted individually.

If you’re using a mail-order gold buying service, make sure you understand any return postage fees you’ll need to pay if you decline their offer. A lot of companies say they offer free shipping, but if you refuse their offer they charge a great deal. Be sure you have an idea how much it will cost you to reclaim your items.

While gold buying can be fun, don’t tell everyone about it. Anyone could be listening and you don’t know who can be trusted. Protect your investment in a secure home safe or in a safe deposit box. This will protect your gold in all circumstances.

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.

Don’t sell gold out of desperation if you can help it. Gold tends to raise in price and while the price is very high now, it could go down more later. If you’re able to keep your gold, then you may be able to get more benefits from it later on.

Gold Prices

TIP! Think about selling your gold on the Internet. You don’t need to have a physical store location anymore.

Over the past decade, gold prices has quadrupled, which is great news for gold investors. No one knows whether it is smart to invest in gold right now or not, though. Higher gold prices go hand in hand with a weak dollar.

Research the buyback policy of each prospective buyer and seller. Some buyers will charge you a fee to sell your gold. Also consider the expense of shipping to a dealer who is not located nearby. To protect yourself, never purchase gold and let your buyer have possession of it.

TIP! When you first check out gold jewelry, you may be in for a bit of sticker shock and decide to buy gold-plated jewelry, instead. However, don’t feel that to buy gold of real value you need to pay a high price in a fine jewelry store.

Buy only jewelry that is pure gold. This investment can also be used as a fashion accessory. Gold jewelry is worth more when its made of high-end gold, which makes it more desirable.

Like other kinds of investing, gold works better as a long-term investment. Avoid buying it when prices are up. Actually this is not when you want to make an investment in gold. You have to have your timing down pat.

TIP! If you are interested in trying gold as a commodity, but you are short on capital for investment, start out with buying scrap. This can be done bit by bit.

Gold is not an investment that you try and time. Rather, this investment should be looked at as “wealth insurance”. If you want to attempt to time your investing, buy during quiet market conditions. There could be a gold shortage when the economy is bad.

Gold Prices

TIP! If you are purchasing gold jewelry for another person, you must be certain about the return policy. You need a guarantee on any gold you buy.

Before you sell, watch the gold price for a few days. It changes every day so you need to figure out when is the best time to sell. This means understanding the fluctuation that occurs in gold prices. It is in your best interest to monitor gold prices for a bit before you sell.

When you sell your gold jewelry, make sure each piece is weighed separately. Jewelry value increases as karats do. Weighing pieces with a higher karat rating with those of a lower rating reduces the total amount you will receive. Be sure to separate your items before selling them.

TIP! Understand that gold dealers are interested in all gold items. Examples of saleable items include broken jewelry, spoons, forks, household goods, etc.

Take pictures of all of your gold pieces before leaving them with a potential buyer. Ask the buyer if there are any replacement value guarantees if the gold suddenly disappears or is stolen while the buyer has possession of it. Get that in writing to protect yourself.

When you sell gold, you need to have your identification handy. Criminals want your gold. To catch these criminals, laws are in place that mean anyone selling gold has to have proper identification. Thieves can be captured this way.

TIP! Only sell to buyers that have a state license to buy gold. They are likely to be honest.

If you’re looking to sell gold coins, be sure to take both collector value and value by weight into account. If you only consider the amount of gold, you may undervalue the coins. You need to do your homework before deciding on selling.

When shipping gold, include a packing slip with an itemized list of each item. Make a photocopy. Put one list in with the items and keep one for yourself.

TIP! Antique stores may hold valuable gold. If you understand what to look for, you really can find some great deals.

Now you know how to use gold to your advantage. Diversifying your portfolio with liquid assets and long-term investments is the best strategy. Gold is a great investment; however, there is risk involved.