Latest News!

Curious About Trading With Gold? Try This Expert Advice

TIP! Do you know how pricing on precious metals works? Gold, along with silver and platinum, have prices that change on a whim. Therefore, you must always know what the spot price currently is.

Do you understand the gold market? Are you feeling as though you are in over your head? Have you been doing this forever, but want to learn more? Whatever your level, this article has expert tips that will help you. We know you’ll find out something new.

TIP! It is possible to sell gold online. It is now easy to sell gold without having a physical store location.

Get valuations for your tangible gold from a handful of dealers at a minimum. Dealer prices vary by store. When you get an estimate from more than one, you can help to ensure you’re getting a fair price on the gold you’re selling.

TIP! If the gold price is not to your liking, perhaps going with gold-filled or gold-plated jewelry is something to consider. You do not have to pay full price for gold jewelry if you find that the prices offered by jewelry stores are too expensive.

Changes in the current price of gold will affect the price you will get. You need to sort your gold according to its karat value before weighing and assessing the value of each item. Don’t sell jewelry that’s worth more due to maker or designer.

TIP! Don’t discount the value of looking for gold in vintage or antique stores. You can find gold in unexpected places, but you have to know what to look for.

Verify the market price before selling your gold jewelry. This can help you discern whether you’re being offered a good price or not. Dealers will charge you a premium on top of market value so they can make some money too.

Thrift Shops

TIP! Use a magnet to determine if an item is made of gold. Precious metals, such as gold, are not magnetic.

Thrift shops, antique stores and estate sales can be fantastic sources for finding gold jewelry at a good price. If you understand what to look for, you really can find some great deals. A lot of people give these items to thrift shops or antique markets because they aren’t aware of their true value. If you are smart, you can make a great profit.

TIP! Ask what method is used to determine the purity or karats of your jewelry. Many times you will see the item have a stamp on it.

Be careful in the gold market. While there are unscrupulous traders and companies in every market, the gold trade is particularly noted for having a healthy helping of scam artists. Lots of people will scam you if given the chance. It’s important to be cautious and do full research.

TIP! Before selling your gold, contact your local Better Business Bureau. The BBB’s website will share any negative reports made against a company through the BBB’s service.

A fast, cheap way to test for gold’s authenticity is to use magnets. Gold, unlike other metals, will not be attracted to a magnet. Sometimes you’ll find a clasp to be something solid, but everything else is plated. You can test your jewelry this way.

TIP! You don’t have to own gold to invest in it. It is possible to purchase stocks of gold mining companies, shares in a gold ETF or a mutual fund whose focus is gold.

Research gold before investing in it. There will probably be people saying that they know what they’re talking about just so you’re likely to invest with them. Be careful of promises claiming you’ll become rich. Avoid get-rich-quick schemes, and avoid being scammed.

TIP! Before selling gold, separate everything by karat. When you start weighing gold at the time of sale, vendors might attempt to weigh all the pieces as once and claim they all fall under the lower weight.

These tips should serve you well as you plan to make money dealing in gold. Use this information to boost your knowledge and strategy. Ultimately this ensures that you generate maximum profits from your efforts. Learning all that you can is what will help you to become successful.

Thank you,

David Ingham

Click Here to get your free Gold savings plan

About David Ingham (2731 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.

Leave a Reply