If you have ever wanted to get into gold before now but didn’t make the first move, this article is for you. You shouldn’t feel intimidated, but you should feel knowledgeable about this market. Investing in gold offers great advantages, which you should take the time to discover.
Consider selling gold online. You no longer need to buy and sell gold at a physical location. Numerous websites exist on which to buy and sell gold. Contact the site, and they’ll send out a shipping kit so you can send them your gold. They end up paying you once they receive it, but they usually won’t pay you a lot.
Don’t sell to entities that are not licensed by the state to buy gold. You have a greater likelihood of dealing with a reputable trader if you look for this certification. Many individuals, pawn shops and jewelry stores are interested in buying gold. Be picky about your buyers.
If you don’t want to worry about storing, shipping and insuring your gold, consider buying GoldMoney instead. It can be compared to “gold bank accounts.” You put money into it like any other account, (e.g. a savings account) but it’s converted into gold bullion. Your gold sits in a vault until you decide what you wish to do with it next.
When dealing with gold commodities, proceed with caution. Several markets have bad companies, but gold is notorious for containing many. Any number of shady individuals or even business are ready and willing to rip you off. Do your homework before giving anyone your business.
When dealing with any gold buyer, make sure you shop around before making any final decisions. The offers you get might surprise you! If you choose to sell to the first buyer, you might get a bad deal. Invest the time into the process, and you will be rewarded in the end.
A cheap and quick way to test gold is to use a magnet. Precious metals do not respond to magnets. Check the chain as well as the clasp for an accurate reading. A magnet is a good tool for discovering fake gold.
Ask the gold party representative about how the gold’s purity in karats is determined. Frequently, the gold piece will have a stamp on it. In other cases, there’s no visual evidence and the rep must make the determination by an alternate method. Acid testing is a very simple way to asses karat quality. If you see this method being employed, it’s possible that the tester is a relative newcomer.
You now know how to proceed. Make the most of this information to begin your foray into gold investment. It won’t be long before you start witnessing the perks of being a gold investor.
David InghamFollow Dgingham