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Are You A Gold Lover? Read This

TIP! Make sure that you get a quality estimate from a reputable source before selling your gold. A lot of services and jewelry stores are out there, and they will usually vary in how much they profit.

Unless you are familiar with the workings of the gold market, it’s almost impossible to make it an important part of your wealth portfolio. Make sure that you do not get into the market without a good understanding of gold. It contains everything you need to know about selling and buying gold.

Reputable Buyers

TIP! Look into selling gold on the Internet. You don’t need a storefront to buy and sell gold.

When selling gold, sell to reputable buyers. Use resources like the Better Business Bureau and customer reviews. Reputable buyers usually pay fairly for gold, and they often have much better customer service versus the less reputable ones. This will protect you from rip off artists.

TIP! Be aware that it is possible to sell anything with a gold content to gold dealers. For example, you might sell home accent pieces, dinnerware, and old or broken rings and necklaces.

The day that you plan on buying gold, check its spot price. A number of websites feature this information, and it changes daily. When you actually make your purchase, refuse to pay more than 8 percent more than this price. Some dealers are going to try and charge you more, but don’t pay it.

TIP! Be sure to select carefully when considering taking your gold to a pawn shop or jeweler for sale. You cannot count on these stores to pay the national standard of the day.

You can easily test whether a gold piece of jewelry is real by using a simple magnet. Real precious metals do not stick to magnets. Sometimes you’ll find a clasp to be something solid, but everything else is plated. A magnet is an easy way to test.

TIP! 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. You will only get melt value at pawn shops or with most private buyers.

Talk to a the gold party representative to learn how they make karat determinations. In most cases, gold will be stamped with the karat it is made with. In other cases, there’s no visual evidence and the rep must make the determination by an alternate method. Acid testing is a very simple way to asses karat quality. If you see this method being employed, it’s possible that the tester is a relative newcomer.

TIP! If you plan to mail your jewelry, be sure that you find out how much the return postage will cost if the price offered you is too low. Most companies will advertise free shipping, but they often charge a lot to put the items back in the mail.

Always understand what you are signing. Read any fine print before you decide to offer your gold to a mail-in buyer. This way, it will be clear how much you are paying in fees.

TIP! Don’t discount the value of looking for gold in vintage or antique stores. Many of these places offer great finds in gold at a cheap price if dig deep enough.

Before you sell your gold as scrap, it is wise to have it appraised first. This is a good idea if the piece is antique or has an elaborate design. Appraisals cost money, but often are a good investment. An appraiser might even be able to help you sell your special item.

TIP! If you attend a gold party, you want to ask the representative how the value of the jewelry is determined exactly. Many times you will see the item have a stamp on it.

Now that you’ve gone over what goes into investing in gold, you can use the knowledge to your advantage. Ponder what you have learned and start applying the information to investment decisions. Gold is a great way to fill out your portfolio to secure your future.

Thank you,

David Ingham

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About David Ingham (2668 Articles)
I am an online enthusiast, Project Manager and family man helping people create Financial Freedom and earn a Full Time Internet Income. Hence my Blog Work From Home Career, I live in the UK and I love life, rugby, running, snowboarding and Triathlon’s. Are you fed up been broke and looking to learn new skills to become financially free? I have teamed up with Successful Mentors that are ready to help you succeed.

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