Investing in gold is a great decision that can balance your investment portfolio. Keep reading in order to learn about gold can be so useful as an investment strategy.Stay with reputable buyers when selling gold.You can check out their reputation by contacting the local BBB and checking online reviews. A reliable buyer is going to give you fairly for your gold while giving you great customer service when compared to shady buyers. You have to protect your investment and yourself.Go with a reputable gold vendor when selling. Use both Internet reviews and BBB complaints and information to discern someone’s reputation. A buyer with a good reputation will give you good service and an equitable price for the gold you are selling. Do this to protect yourself and your gold investment.
Before you purchase a gold piece, get a guaranteed delivery date. If delivery isn’t immediate, get it in writing confirming when you are to expect your piece. The expected delivery date on which you can expect to receive the items should be provided. Do not finalize your order until you have this in writing.Prior to selling or buying gold, be certain you know how precious metal pricing works. The prices of precious metals fluctuates daily, so it’s best to know the price of the day. A higher percentage over the melt should be expected when purchasing fractional gold pieces such as 1/2 or a 1/4th ounce against a one ounce piece.If you’ve been thinking about selling your gold to a mail-in company, research them and their terms before heading to the post office. Find out when you can expect your payment, and get insurance for your package.This can accumulate over time, maybe some each day so that you can get some valuable gold in about a year. Keep your stash in a safe place until you have enough to cash in.Before selling gold jewelry, see what the current prices are in the gold market. This allows you to evaluate a dealer’s offer against the current market rate. Dealers will charge you a premium on top of market value so they can make some money too.
Make sure you know the spot price of gold the day you plan to buy it. This information can be found on a number of websites. Never pay in excess of 8% markup on the spot price. Some sellers try charging more, but they are overcharging and oftentimes, which is generally unethical.When considering selling your gold jewelry, you need to figure out if you want to get melt value or sell it as jewelry. If you are selling to pawn shops or most private sellers, expect them to offer the melt value. Never let this dissuade you, however, as you are sure to locate an appropriate buyer eventually.Try a site like GoldMoney to buy gold. It is kind of like a “gold banking account.” You establish your account and deposit your money, fund it and then you will be assigned gold. The gold will physically sit in the bank where you can cash it, portion it, or in some circumstances, redeem it for one kilo gold bullion bars.
Use a magnet to determine if an item is made of steel. Precious metals like gold are not respond to magnets.Sometimes a jewelry piece is only the clasp is solid gold clasp. This method of testing for that.Never sell your gold to someone who does not have the appropriate state licensure. Although anyone could rip you off, the chances are slim when working with someone who is licensed. Many establishments purchase gold, so there is no need to sell yours to the first buyer you deal with.Have jewelry appraised before you sell them as scrap gold. This rings true for pieces that are one-of-a-kind. While you will probably pay to have an appraisal on your gold, you might end up with more later on. An appraiser may know someone that’s interested in your special item.You can still invest in gold without actually having gold in your hands. If you want to get physical gold, think about the cost storage when making your purchase.Avoid letting people know that you are planning to sell your gold. You can’t be sure who’s listening or who is trustworthy. Stay quiet about the investment and make sure you keep it safe. This keeps your gold hidden and secure, as it is a very valuable investment you want to protect.You can sell gold by mail. Many sellers like this option because it is simple.Don’t sell your gold just to sell it. Gold tends to raise in price and while the price is very high now, so it is something you should keep around for a while. You may benefit in the future by keeping your gold for even more later if you hold onto it now.Do not discount the value of searching through antique stores or thrift shops for your gold. When you know what to look for, you can find a great deal. Many people do not realize what they have and sell it or donate it to these shops. You stand to gain a great deal if you come armed with a bit of research.The purity of golds is measured by the karat.The higher the karats, the purer and more expensive it costs per ounce. You cannot just rely on the karat stamp. You won’t pay too much for poor quality if you know the methods to testing gold purity tests.Know what your goals before investing in gold. Gold can be volatile, it can be good insurance against inflation. If you set limits on your exposure and know what your goals are beforehand, you will be better equipped for making a good investment.Know what you’ve really got. Pieces that appear to be gold may not be worth gold’s weight. Some jewelry is a composite of a number of different metals. This will reduce the value. Gold-plated items apply the same principle. If you are unsure of what you have, you may want to get it appraised prior to going to sell it.Now, you should be able to find a place for gold inside your investment portfolio. It can be a bridge between liquid cash reserves and mutual funds. Now you should be able to see what makes gold good to invest in as well as what risks you should look out for.