Investing in gold is a very popular way to protect your savings from inflation. More people are ensuring their wealth through gold more than ever. Find out how to get the best return on your gold investment.
Gold’s price is always changing, which makes it important to know your piece’s value before selling it. If you have made the call to sell any gold you have, group your pieces by karat value. Don’t sell jewelry that’s worth more than its melt value because of its designer origins.
Make sure that you understand the terms when sending jewelry back through the mail. The last thing that you want to do is lose money because of a flawed shipment. Finally, take a picture of everything you are putting in the mail in case there is a dispute later on.
If you are buying gold as a form of a retirement fund, make sure to buy the right kind. The gold has to be IRS approved. They have to be either 24 karat coins or bullion bars. Consider bars more than coins, since they have more value.
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. Many companies offer free shipping but charge more for mailing items back. You should be well aware of what this could cost in advance.
When selling gold, only work with licensed buyers. This does not prevent you from getting scammed, but a licensed buyer probably has a better reputation. There are a number of people out there willing to buy, so avoid thinking you have to go with the first buyer you see.
Make sure you are know exactly what you have. Not all gold piece are worth their weight in gold. A lot of times, metals are combined with gold to make the piece stronger. Items that are not pure gold have a lower value. So, too, can items that are simply gold plated. Getting gold jewelry appraised is always a good idea if you want to be clear about the potential sale value it represents.
Gold’s popularity and importance has risen due to the downward economy worldwide. If you know about the market, you can invest in gold yourself. Use the information shared here to make the most of any future gold investments.
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