Gold has a value in every market, and has been traded as treasure for as long as it has been around. Everyone loves gold, but most people don’t know enough about it. This article will help you learn about buying and selling gold.
Gold prices change quickly and often, so know the current value before you attempt to sell any. When selling gold, be sure that items of differing karat values are weighed separately. Don’t sell jewelry that’s worth more than its melt value because of its designer origins.
If you plan to mail your gold jewelry to a firm, do some research on them and their policies before you do so. Your package needs to be insured, and you need to be aware of when you are going to receive payment. Take a photo of what you mail to battle against disputes down the road.
Make sure you verify the price of gold the same day you plan to buy it. The spot price is readily found on the Internet. You shouldn’t pay more than 8 percent over the spot price. Paying that price would simply be unfair to you.
GoldMoney could be a good resource when you want to buy gold. This is the equivalent of establishing a gold bank account. You simply establish your account, deposit funds and receive an assignment of gold that fits the value of your account. Of course, you won’t actually have the gold. It will stay in the bank, but you can cash it in, portion it or even redeem it to receive one-kilogram bars of gold bullion.
A magnet can be used as a cheap and fast way to determine if a piece is really made of gold. Gold and other precious metal will not be affected by a magnet, which means that they won’t stick to it at all. Sometimes you’ll find a clasp to be something solid, but everything else is plated. Using this technique will help ensure your pieces are solid gold.
Talk with a gold expert on how they go about attaching a price to a piece of gold, so you know how much a karat is worth. Many times the item will have a stamp. Sometimes, though, an eye test is insufficient and buyers have other ways of making that determination. The most simple test involves the use of acid. If the company claims to use that type of test, it may be an indication that they are not as experienced with accurate testing methods.
As is now quite clear, gold is a precious commodity that is easily traded. Gold investing is wise, given that its value only grows with time, Armed with this knowledge, you are ready to start your own gold collection.
David InghamFollow Dgingham