If you are looking for a good safe investment, how would the make you feel? This will only happen, though, if you educate yourself about smart gold investing. Keep reading if you want to learn more about gold investments.
You may think that solid gold jewelry is too expensive and choose to purchase gold plated or filled jewelry. You do not have to pay full price for gold jewelry if you find that the prices offered by jewelry stores are too expensive. Find cheap gold in pawn shops or online.
Get an appraisal if you have no idea what value your gold holds. Though you will have to pay a bit, knowing its value is crucial. Make sure to choose an accredited appraiser from an independent shop to receive the most accurate appraisal. Do not expect to get the full value of the appraisal, but you should try finding a buyer who will give you an amount as close to the appraisal as possible.
If you’re going to sell your scrap gold at neighborhood shops, check out more than one. The current spot price for gold is considered as a national standard but not all buyers will offer this price. Stores located apart from larger shopping centers may have fewer fixed costs and are thus, able to pay higher prices.
There are places you can send you jewelry to get paid. See how you can get your gold back if you don’t like the offer. Many companies will pay for your postage when you send but charge a high price when they return the piece to you. You should be well aware of what this could cost in advance.
Only make a sale to buyers who hold a state license in buying gold. Licensed buyers are generally more reputable than unlicensed buyers. There is a lot of competition out there, so you can sell to someone else if you’re not happy with the first offer.
There are many sites where you can purchase gold, such as GoldMoney. It’s like opening a bank account which trades in gold. With this service the money in your account is converted into gold. The gold will physically sit in the bank where you can cash it, portion it, or in some circumstances, you can redeem it for gold bullion bars that weigh a kilo.
No matter the excitement gold buying brings, do not spread the word. You cannot put your trust too easily on people. You want to keep these investments safe, mainly stored at the bank or at home if you’ve got a good safe. This ensures that your gold is protected under all circumstances.
Talk to a gold representative to learn how they test gold for purity. Quite often, the gold will be stamped. However, there are some times when there aren’t visible signs, so the reps have ways to determine it. Using an acid test can be a great way to determine the karat of the gold.
Get a jewelry appraisal before you consider selling it for scrap. You should do this for special pieces. Unique pieces may be worth more intact than they would if eventually melted down. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. Appraisers may know others that will buy your precious jewelry, too.
Before doing business with an gold dealer, you will want to inquire with the BBB. You can usually find out about complaints and customer reviews. Keep a close eye out for any complaints not fully resolved. Avoid using any business that has a lot of complaints or unresolved complaints.
Separate your gold by karat weight. If you keep them together, an unscrupulous dealer may try to weigh all the pieces in one batch, then pay you the lowest karat price for all of them. You’ll lose out on a lot of potential profit this way. Present the buyer with different piles of gold so you can get a good price for your gold.
Mailing away your gold to a buyer is always an option. This is an easy way to get the job done. You receive a postage paid envelope, place your items inside, ship it and wait for a check in the mail. These companies won’t pay the same amount for gold as others though. You might even take a thirty percent loss. Understand that going in.
Overnight fortunes will not be found but steady growth of profit can easily be achieved. Start out with small goals and make an effort to reach them to accumulate more profits. Steady gains are the name of the game, so just enjoy the process without stressing over it.