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Great Tips On Gold: Buying And Selling

TIP! When you purchase gold, it’s important to set a fairly stringent schedule for delivery of your metal. If the person selling you the gold does not deliver the product right away, it is necessary for you to obtain a written estimate of when your items should arrive.

If you have been wanting to begin investing in gold, now is the time. If you have the right knowledge, you can be confident in your decision. There are many good things about investing in gold of which you should be aware.

TIP! Check out current market values before you ever sell any jewelry. This will help you set a fair price when you sell or buy.

Gold is something that changes in price all the time. This is why you should know what it’s worth prior to selling. If you have made the call to sell any gold you have, group your pieces by karat value. Try not to sell jewelry items that are valuable due to their maker.

TIP! If you intend to convert your gold jewelry into cash, you’ll have to choose between selling it as jewelry or for the “melt” value of the gold it contains. Usually, you will only get the melt value from both private sellers and pawn shops.

Stay with reputable buyers when you sell your gold. Check with the BBB and look at reviews online before you sell your gold to a buyer. A legit buyer will offer a fair amount for the gold you have. Research helps protect you and your investment.

TIP! Always check the daily spot price before you buy gold. A number of websites feature this information, and it changes daily.

Have an understanding of gold prices. Metal prices fluctuate constantly, so you need to know the price on any given day for a transaction. Gold pieces with fractions of an ounce will command higher prices than pieces weighing one ounce.

TIP! Don’t let others know you invest in physical gold. You don’t know who to trust or who is listening.

If you’re thinking of getting gold to help you retire, you need to get the right variety. Gold needs to be IRS-approved. That means only 24 karat and only coins or bullion. Buy bars instead of coins to increase your profits.

TIP! Don’t avoid searching antique shops or thrift stores for gold. If you have a discerning eye, you can locate great pieces.

If you are buying gold jewelry as a gift, make sure you have a money back guarantee. You do not know if the gift receiver will like it or if the piece fits. It’s always a good idea to be able to get your money back on a jewelry purchase if it doesn’t work out for you.

Spot Price

TIP! When you attempt to sell gold, make sure you know the current market prices. Compare the prices offered by different buyers.

Take a look at the spot price prior to going out to purchase gold. This price can be found on a number of websites. Never pay in excess of 8% markup above the spot price. Some sellers try charging more, but that’s overcharging, which is generally unethical.

TIP! One quit and cheap method of finding out whether or not gold is real is to use a magnet on it. Precious metals do not respond to magnets.

If you think you’re going to mail off your jewelry, you should see what it’s going to cost to have things mailed back if you don’t like their offer. Even if you do not pay for shipping the gold initially, return shipping is an entirely different matter. Know what you’re up against before you mail anything away.

You now know how to proceed. Apply what you have learned here and start investing in gold. With time, you’ll find that gold investing can be very advantageous.

Thank you,

David Ingham

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About David Ingham (2884 Articles)
I am an online enthusiast, Project Manager and family man helping people create Financial Freedom and earn a Full Time Internet Income. Hence my Blog Work From Home Career, I live in the UK and I love life, rugby, running, snowboarding and Triathlon’s. Are you fed up been broke and looking to learn new skills to become financially free? I have teamed up with Successful Mentors that are ready to help you succeed.

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