It’s amazing how popular gold is since the recession. It could be that you’re looking to join in on this popular gold market frenzy as a way to ensure that your financial future is safe. If you want to get into this game, read the following tips.
Be well informed about the value of precious metals before buying or selling gold. Metal prices fluctuate constantly, so you need to know the price on any given day for a transaction. You should be ready to pay a higher percentage for fractional pieces like half ounces and quarter ounces over the melt prices.
Check gold prices on the day your are buying or selling gold. This price can be found on a number of websites. Never pay in excess of 8% markup above the spot price. Be on the lookout for any unscrupulous dealers who try to get away with overcharging you.
Avoid letting people know that you are planning to sell your gold. You don’t know who to trust or who is listening. Protect your investment in a secure home safe or in a safe deposit box. This will help protect you.
Know what it is you actually have. Not everything that looks like gold is worth its weight in it. Usually gold is mixed with other metals to give it strength. These metals can reduce the value of gold. This also applies to pieces that are plated with gold. If you don’t know what you have, have it appraised before trying to sell it.
Do not sell any jewelry solely for its gold content without seeking an appraisal. This is an absolute must-do if you are selling unique, handcrafted pieces of jewelry. Knowing the true value of a piece can make it well worth the cost of appraisal. An appraiser may know someone who will give you a good price for your jewelry items.
Always separate out your gold according to karat weight before you sell it. Weighing the items separately ensures you get the true value its worth, but some sellers won’t do this. You will walk away with less money. Rather, pre-separate the pieces so you can get the most money you can.
In the last few years, more and more people have become interested in investing in gold as a source of financial security. If you know a little about buying and selling gold, you can personally profit. Use the ideas in this article frequently, and you’ll get the wisdom you need in dealing with gold.
David InghamFollow Dgingham