As various forms of currency decrease in value, gold prices continue to go up. For this reason, it’s a good idea to invest in gold as a hedge against future poverty. When you sell or buy gold, you should consider a few important things. Use these hand-picked tips to maximize your profits from dealing in gold.
Bullion bars are an excellent gold investment. Bullion bars come in a variety of weight. Smaller pieces are as little as half an ounce, while others reach hundreds of ounces in size. You will have a hard time if you are seeking the largest size.
Before buying or selling gold, know how all the prices work. Gold, platinum and silver prices tend to fluctuate daily, so make sure you check the spot price on a specific day before you make a transaction. You might need to pay a higher percentage for melt values such as 1/10, and 1/2 fractional pieces.
If you decide to send your jewelry to a company through the mail, research them and their terms before heading to the post office. Be sure to understand when to expect payment and how to insure your items. Take a photo of all the items you are sending so there will be no questions later.
When purchasing a piece of gold jewelry for someone else, be sure there is a return policy. You never know if the jewelry will fit someone else or if the person will even like it. If you have the receipt, they can easily trade in the piece for something more to their liking.
Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. Many stores do not pay the going rate for gold. Some stores outside of busy urban areas do not have to pay as much on rents as stores located in a shopping mall and will offer a better price.
When considering selling your gold jewelry, you need to figure out if you want to get melt value or sell it as jewelry. If you are selling to pawn shops or most private sellers, expect them to offer the melt value. However, if you are patient, you will find a buyer who is willing to pay top dollar for your jewelry.
There is a good reason that gold sales and purchases remain popular with investors. Gold prices continue to go up, making it a solid investment. You should become educated about the gold market before investing in it. Keep this article in a safe place and refer to it whenever you need a little help.
David InghamFollow Dgingham