Would you believe that your dreams could come true if you invested in gold? This will only happen, though, if you educate yourself about smart gold investing. This article will get you started with some great tips and tricks which come from the experts.
If you are selling gold then shop around to get an idea of what its true value is from different companies. Many jewelry stores and gold buying services are available, and they will all usually take a different profit on the gold they are purchasing. Getting multiple offers allows you to understand what you can get for your gold.
Research the market price before selling any of your gold jewelry. You will then be prepared to negotiate. Dealers will charge you a premium on top of market value so they can make some money too.
If you’ve been thinking about selling your gold to a mail-in company, take the time to read over their fine print before getting involved with them. Find out when you will receive your money, and never send your package without insuring it first. As a last step, take a photograph of the package’s contents before you send it off to avoid disputes.
If you’re buying gold to save for your retirement, buy the right type. It has to be IRS approved. They must be 24 karat bullion bars or coins. Lean towards buying the bars over the coins as they hold more value than coins.
Consider a fair return policy as an absolute necessity when you’re purchasing gold jewelry, especially if you intend to make a gift out of it. You never know if the jewelry will fit someone else or if the person will even like it. If that should occur, it is important you can return the piece for a full refund.
When it comes time to sell your gold, figure out if you would like to sell it for its melt value or simply as a piece. Pawn shops and many private sellers are only looking to pay the melt value. Don’t give up; eventually, the right buyer will come your way.
Know what you are working with. Even though the item looks like gold, it may not have much value. It’s not uncommon to find gold that has been mixed in with other, lesser metals. This can lower the price. This also applies to pieces that are plated with gold. If you don’t know what kind of piece you have, take it in to be looked at before you try and sell it.
You might not rake in the profits, but you will definitely start building. If you give yourself reachable goals and give it a solid effort, you are going to start seeing the rewards. Take your time and put in everything you can along the way.
David InghamFollow Dgingham