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The Golden Dream: Making Money With Gold

TIP! Comparison shop when it comes to selecting a buyer. Check online reviews, BBB.

Buying and selling gold has interested many more in recent years, especially after the shaky global economy. Sadly, many folks jump into the gold markets before they know enough to make good choices. Keep reading this article to learn what gold can do for you.

TIP! Be sure the buyer you are considering is licensed by the state to make gold purchases. They are likely to be honest.

Be aware that it is possible to sell anything with a gold content to gold dealers. Old or broken jewelry, old coins and tableware are just some of the things that may contain gold, Even things that are not pure gold can have value. Plated gold will do. You may still get a little of your initial outlay back.

TIP! Try using GoldMoney to buy gold. It’s like opening a bank account, but for gold.

On the day you are planning to buy your gold, check the spot price. This information can be found on various websites, although they tend to fluctuate each day. When you actually go to buy, do not pay more than an eight percent markup over this price. If you find a dealer asking for more than 8%, they’re overcharging and may not be ethical.

TIP! Think about shopping thrift and antique shops to discover gold treasures. You can find gold in unexpected places, but you have to know what to look for.

Exercise great care when you’re getting into gold trading. There are many unscrupulous companies out there who deal with gold. There are plenty of honest dealers; however, there are also people who are only out to steal your personal information. Therefore, it is important to proceed with caution and research each company carefully.

TIP! Be careful in the gold market. There are many swindlers to be found in the gold market.

Before you go with one gold buyer, shop around. You might get surprisingly different offers that reward your patience. If you sell hastily, you may wind up with a poor return. Take a little bit more time at first so you’ve got the maximum return on your gold investment.

TIP! Be sure you know about the gold in your possession. A lot of the time, gold isn’t really worth what it looks like it’s worth.

One quit and cheap method of finding out whether or not gold is real is to use a magnet on it. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. In some cases, jewelry may have a clasp that is made of gold, but the rest of the jewelry piece is made of plated metal. You will find this to be an effective way of testing this.

TIP! Speak with the representative at the gold party to find out how they determine how many karats a piece of jewelry is. Is it based on the stamp? Sometimes, however, you won’t be able to see any kind of a stamp, so the people should have another way to figure these things out.

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. Look carefully at complaints and whether they were solved or not. If the number of complaints is high, it would be a wise decision to do business with a different company instead.

TIP! Before you sell your gold as scrap, it is wise to have it appraised first. You should do this for special pieces.

Many people get excited at the prospect of making a fortune on the gold market. But lack of knowledge can lead to people being scammed by others. This article has taught you what it takes to get ahead.

Thank you,

David Ingham

Click Here to get your free Gold savings plan

About David Ingham (2323 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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