To add gold to your investment portfolio, there are a few things you must know. It isn’t just buying some bullion and crossing your fingers; having the right information will help. Read this article to gain some knowledge about gold investments.
If you are purchasing gold jewelry for another person, you must be certain about the return policy. You can’t be sure of another person’s preferences; they may not care for it. If you have the receipt, they can easily trade in the piece for something more to their liking.
If you’re not sure about the value of your jewelry, you can have an appraisal done. This adds an up-front cost, but it could save you a lot of money later. Make sure to choose an accredited appraiser from an independent shop to receive the most accurate appraisal. When you sell, you won’t get the whole appraisal value, though.
Check the price when you are buying gold. This information is available on a number of websites. Never pay more than 8% premiums on your gold. Some sellers try charging more, but that’s overcharging, which is generally unethical.
Be sure the buyer you are considering is licensed by the state to make gold purchases. They are likely to be honest. There is no shortage of places to do gold trading, so don’t feel pressured to take the first offer you get.
Gold should be separated by karat weight before sale. You don’t want everything thrown together in one pile, because it will all be weighed as if it is the same karat. This of course results in fewer dollars for you. Separate and weigh your gold so you know the true value before selling.
You can sell gold by sending it in the mail. Lots of sellers prefer this process, as it is easy. Oftentimes you will be provided with a prepaid envelope and will receive a check in the mail. Remember that these places usually do not pay as much as other places for gold. Keep in mind that you could be looking at a return of 30% less than other options.
Scrutinize any forms that a gold dealer gives you. There is a lot of money in gold and some unscrupulous brokers out there. Know what you’re agreeing to when signing anything. If you disagree with the terms of the sale, do business with someone else. Protecting yourself is hugely important.
Armed with the knowledge presented here, you can now deal in gold successfully. Think about all the information that you’ve learned, and work towards applying it to your investment strategies. Gold can definitely fit in with your investments to help provide for your future.
David InghamFollow Dgingham