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Have Questions About Gold? Get Your Answers Here

TIP! Before buying or selling gold, know how all the prices work. Gold, platinum and silver prices tend to fluctuate daily, so make sure you check the spot price on a specific day before you make a transaction.

Investors should put some of their investments in commodities. Gold is the best commodity that is out there. No matter if it’s put away for the future or perhaps you seek profits in the short-term, the following article about gold offers a wealth of information.

TIP! Think about selling gold on the web. You don’t need a storefront to buy and sell gold.

Bullion bars are hands down your best gold investment. The weights vary. From .5 ounces to 400 ounces, the choice is yours. It isn’t easy to get the big bars, though!

TIP! If you’re going to sell your scrap gold at neighborhood shops, check out more than one. Prices paid will vary from shop to shop.

If you decide to send your jewelry to a company through the mail, research them and their terms before heading to the post office. Find out when you will receive your money, and never send your package without insuring it first. Also you need to be sure to photograph everything you’ve put in your package in case they start a dispute.

TIP! Make sure you’re only selling to someone who has a license to purchase gold. There’s still a chance of getting a bad deal, but chances are your buyer will be more than reputable.

If you buy gold for your retirement fund, be sure it’s the proper kind. You must have IRS approved gold. That means only 24 karat and only coins or bullion. Bars are often a better deal than the coins.

TIP! Be fully aware of what you have. Many things look like solid gold but are not.

Comparison shop when selling old gold jewelry. The “spot” price for gold is determined by a constantly fluctuating market, so not every store is going to pay it. Stores located apart from larger shopping centers may have fewer fixed costs and are thus, able to pay higher prices.

Melt Value

TIP! Before you sell gold jewelry for its scrap value, have it professionally appraised. This tends to be true for pieces that have intricate workmanship and details.

Is it better to sell your gold jewelry for melt value or as jewelry? Some buyers, including a lot of private sellers and pawn shops, only care about melt value. If you are selling a piece of jewelry, you should pursue a better deal.

TIP! Check Better Business Bureau ratings for gold dealers and jewelry stores before deciding where you want to sell your pieces. The BBB’s website will share any negative reports made against a company through the BBB’s service.

Be sure to consult the spot price on the day when you plan to purchase gold. A number of websites feature this information, and it changes daily. As you prepare to make a purchase, it is best to avoid any price with a markup of greater than 8 percent. If you find a dealer asking for more than 8%, they’re overcharging and may not be ethical.

TIP! Gold investment covers a lot of different options besides acquiring and holding the metal itself. It is possible to purchase stocks of gold mining companies, shares in a gold ETF or a mutual fund whose focus is gold.

Always do your homework before investing. There are many unscrupulous companies out there who deal with gold. There are lots of people that want to rip you off by not giving you what you’re owed. You have to do your research to keep yourself safe.

TIP! If you are selling gold pieces you own, keep pieces of different karats separated. This will ensure that you are paid correctly; otherwise, a dealer may try to pay you using the lower karat weight values.

After reading this article, you should know more about gold than you did before. Use this advice to widen your portfolio, or make a bit of extra money. You can trade gold more confidently after learning this information.

Thank you,

David Ingham

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About David Ingham (1481 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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