Because people don’t know how the economy is going to do in the future, they like to get into gold because it’s safe. That said, you have to have some knowledge behind you to be successful. Continue reading to learn valuable information about purchasing and selling gold.
Consider delivery time when buying gold. If you don’t get delivery immediately, get something in writing which confirms delivery of your pieces. You should have the date of delivery clearly listed. Only go through with your order if you obtain this document.
Why not get your gold jewelry appraised if you are not too sure about its current value? The up front cost is significant, but it can give you a better estimate of value. And make sure you only hire an independent and accredited appraiser to be sure you get an honest appraisal. If you still decide to sell your gold, you should know that you will not be paid the full appraisal value.
Realize that all items containing gold have some sort of resale value to dealers. That could be broken pieces of jewelry, tableware, home decor, or anything else you have around. An item need not be made purely of gold. Even something partially gold or just gold-plated might mean money. It’s still possible to make money this way.
Ask what method is used to determine the purity or karats of your jewelry. In most cases, gold will be stamped with the karat it is made with. However, at other times, there is no stamp, so a lot of reps use other ways to find out. Acid tests are an easy way to determine value.
Do not sell your gold for scrap until you have it appraised. This is a good idea if the piece is antique or has an elaborate design. The appraisal will give you the best idea as to the worth of your gold. Appraisers might be aware of someone that wants to purchase your jewelry.
Look at the BBB before selling gold to jewelers, dealers, gold buyers, and the like. They have rudimentary information about listed businesses, as well as reviews from clients who have traded with them. You definitely want to notice any complaints, whether resolved or not. If they have a ton of complaints or many that are unresolved, you should consider a different business.
Nobody can discount how gold has played a vital role in creating substantial wealth among many people, and even to the lesser investor. But, one needs to have the proper education before getting involved with the gold market. Hopefully, you now know what you need to do to get started.
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