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

Anyone can invest in gold as long as they have the right information. Maybe you have considered joining the throngs of people who take part in this market on a daily basis. If this describes you, read on for helpful gold information.

TIP! If you are selling gold then shop around to get an idea of what its true value is from different companies. There are a large number of venues for selling your gold, and they each have different target margins.

When you sell gold, you should obtain a type of estimated value from multiple sources. Many jewelry stores and gold buying services are available, and they will all usually take a different profit on the gold they are purchasing. By getting multiple estimates, you can be assured that you will get a fair price when you sell.

If the gold price is not to your liking, perhaps going with gold-filled or gold-plated jewelry is something to consider. However, it’s still possible to buy gold jewelry and not need to spend a fortune at the jewelry store. Try visiting a pawn shop or looking online instead.

TIP! The price of gold changes often, so you need to know the value of your gold before attempting to sell it. If you’re trying to get gold sold, know that various karat values are going to need to be weighed separately.

If you’re selling gold through a mail-in service, do your homework on the company and its policies before you make a commitment. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.

When you plan to buy gold, make sure you look at the spot price. This information is readily available online. Be aware that it is updated every day. Never pay more than 8% premiums on your gold. Paying that price would simply be unfair to you.

TIP! If you plan to sell jewelry through mail-in companies, make sure to do your research first. Be certain you have a clear understanding of the timeline involved, and make certain your jewelry is insured.

When considering mailing your gold away for sale, be certain you know how much return mail will cost should you change your mind. Companies often provide free shipping, but it can be costly to get them back to you in the mail. Know what you’re up against before you mail anything away.

Only sell to buyers that have a state license to buy gold. Although anyone could rip you off, the chances are slim when working with someone who is licensed. There are a number of people out there willing to buy, so avoid thinking you have to go with the first buyer you see.

TIP! If you are buying gold jewelry as a gift, make sure you have a money back guarantee. It’s not uncommon for many pieces to not be the receiver’s taste or the wrong size.

Consider giving GoldMoney a try for gold purchases. Think of it as a bank account that deals exclusively in gold. You set up an account, deposit your funds, and you’re assigned some gold at a price that prevails to your account. It then is kept in a vault. The gold is yours to cash in if you wish. You may also redeem it for physical gold later.

One quit and cheap method of finding out whether or not gold is real is to use a magnet on it. Gold, unlike other metals, will not be attracted to a magnet. In some cases, jewelry may have a clasp that is made of gold, but the rest of the jewelry piece is made of plated metal. Magnets will let you tell the difference.

TIP! When selling gold, you must decide whether you’re selling a piece for its melt value or just jewelry. You may get more if you can wait to sell it to a buyer who values it as a beautiful piece of jewelry.

Remember to research the gold market prior to investing any money. There are those who say they’re market gurus and want you to invest with them. However, you have to be careful about get rich promises. If you do not buy into the premise that you will get rich quickly, then you won’t be disappointed.

Have all jewelry appraised before selling it as scrap gold. The more intricate the jewelry, the more it will be worth. You may have to pay for the appraisal, but it might help you get more money. Appraisers might be aware of someone that wants to purchase your jewelry.

TIP! Make sure that you only deal with buyers that are licensed to deal in it. While you could still get ripped off, a licensed buyer is more likely to be reputable.

Never sell gold to a dealer or store with checking their ratings with the BBB first. The BBB has information about each business including any complaints or reviews from others who have used their services. Look at any past complaints customers may have had and how they were resolved. If the number of complaints is high, it would be a wise decision to do business with a different company instead.

One choice for selling gold is sending it through the mail. Lots of sellers prefer this process, as it is easy. The company will send a bag for your jewelry and once they receive it back in the mail, they will send you a check. However, you have to remember that you’re not going to get the most from your gold this way. Sometimes you’ll find that people are only willing to give you 30 percent less of what an item’s worth, so watch out.

TIP! Know what you’ve really got. Not all that looks as if it’s real gold is as valuable as the real thing.

Gold is an investment anyone can make, by either buying or selling. You will get great results if you apply the tips you just read and do more research on investment strategies. Invest confidently in gold using these tips. Good luck with your gold investment.