Gold fluctuates in value, but the trend remains an upward one. There’s always a good market for buying or selling gold. Gold generally does especially well in economically uncertain times. Read on to understand how to take advantage of this metal’s place in the market.
If you plan to sell jewelry through mail-in companies, make sure to do your research first. Find out when you will receive your money, and never send your package without insuring it first. Also, make a photographic inventory of every item you send.
If you’re buying gold to save for your retirement, buy the right type. This needs to be gold investments that have IRS approval. It must be in the form of 24K coins or bullion bars. Gold bars tend to hold their value better than gold coins.
When you plan to buy gold, make sure you look at the spot price. This can be seen at numerous websites, but keep in mind it can often change. Never pay more than 8% premiums on your gold. Occasionally an unethical dealer may try to overcharge their customers.
Sell to licensed buyers only. There’s still a chance of getting a bad deal, but chances are your buyer will be more than reputable. There are quite a few vendors that will purchase gold, so never go into it thinking you’ve got to sell your gold to the first seller you talk to.
If you don’t want to worry about storing, shipping and insuring your gold, consider buying GoldMoney instead. It can be compared to “gold bank accounts.” With this service the money in your account is converted into gold. Instead of keeping up with the gold in your own home, it is stored in a secure bank vault. You can cash it out, divide it, or redeem it.
Know what you actually have in your possession. Pieces that appear to be gold may not be worth gold’s weight. Some jewelry is a composite of a number of different metals. Items that are not pure gold have a lower value. So can gold-plating. If you don’t know how much your gold is worth, then it would be wise for someone to appraise its worth if you intend on selling it.
Clearly, our finances are based in a gold standard. So, to get everything you can from gold, it is important to learn about it and understand how it can be part of your sound financial future. Be in control of your gold investment by using these tips.
David InghamFollow Dgingham