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What You Probably Did Not Know About Gold

TIP! Stick with a reputable buyer when selling your gold. There are several ways to find out about their reputation, such as online reviews or Better Business Bureau filings.

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.

Sell Gold

TIP! Prior to purchasing a gold item from a seller, you must be certain you have a firm delivery agreement. It you don’t have it delivered immediately, find out when you will receive your gold.

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.

TIP! Check the current price in the gold market before you sell your jewelry. This will help you set a fair price when you sell or buy.

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.

TIP! If you’re going to sell scrap gold for cash, be sure you’re looking into everything. All stores won’t pay market price for your gold, since they are all in business to make a profit.

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.

TIP! If you are looking to sell gold, the first thing you need to figure out is if you’re going to offer it up as an entire jewelry piece, or seek the melt value. Many buyers only want to pay for the melt value of the jewelry.

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.

TIP! Take a look at the spot price prior to going out to purchase gold. A number of websites feature this information, and it changes daily.

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.

TIP! A fast, cheap way to test for gold’s authenticity is to use magnets. Real precious metals do not stick to magnets.

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.

TIP! Always read the fine print of any contract so you understand it completely. If you are going to sell gold pieces to a mail-in buyer, look at the fine print prior to selling to them.

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.

TIP! Many times earring posts are made of solid gold, even when the actual earring is not solid. Necklace clasps and ring bands are as well.

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.

Thank you,

David Ingham

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About David Ingham (2460 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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