To add gold to your investment portfolio, there are a few things you must know. It is a bit more complex than just jumping in, but it need not be too complicated if you have the right information. This article is going to help you make those gold investments.
When selling gold, it is a good idea to get an estimated value from more than one source. Different gold purchasing entities are at your disposal, and they all require different profits from the purchases. Getting estimates from several establishments will help you make sure that you receive a fair price.
Bullion bars are an excellent investment. You can find them in several different weights. Smaller pieces are as little as half an ounce, while others reach hundreds of ounces in size. The larger sizes are considerably more challenging to find.
Stay with reputable firms when selling gold. Use resources like the Better Business Bureau and customer reviews. A good buyer will treat you well and offer a fair price on your jewelry. This will protect you from rip off artists.
If you plan to mail your gold jewelry to a firm, do some research on them and their policies before you do so. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.
If you have an interest in getting into the gold markets, but don’t have a lot of investment capital, consider buying scrap. After a year of buying a little gold each payday, you could end up with a valuable collection of scrap gold. However, ensure that you have secure storage for your collection.
Check gold prices on the day your are buying or selling gold. You can see it on various sites and it usually changes every day. When you actually go to buy, do not pay more than an eight percent markup over this price. Anything more is unethical.
If you decide to mail your gold to a buyer, find out how much mailing and insuring these items will cost you and how much you will have to pay to have the items mailed back to you in case you do not accept the buyer’s offer. A lot of companies say they offer free shipping, but if you refuse their offer they charge a great deal. Find out how much you will have to spend in order to get your gold back if you decide not to sell it for the price offered.
Now you know how to invest in gold. Keep these tips in mind and use them when working on your investments. Gold can likely play a role in your financial planning strategy.
David InghamFollow Dgingham