Any serious investor should have a portion of their total investment portfolio. Gold tends to be the top commodity you can get. From building a retirement nest egg to making beer money, this article will help you achieve a financial goal.Get valuations for your gold pieces if you are looking to sell them. There are quite a few stores selling jewelry or that buy it, and some will pay you more than others. Getting estimates from several establishments will help you to understand what you can get for your gold.Get multiple estimates for your gold pieces if you are looking to sell them. There are many buyers who purchase gold, but prices vary from one professional to the next. Therefore, it is wise to get several offers to ensure the best price.Gold prices fluctuate on a regular basis, so make sure you are aware of the value before you try to sell any. If you decide to sell your gold, separate different karat items and have them appraised individually. Don’t sell jewelry that’s worth more when sold as a designer origins.This can be done over time, and can lead to an accumulation of real value in the span of a year or two. Keep it inside a safe place until you have enough of it to cash in.It is important to only do business with people who have a good reputation. Check reputations at the BBB and via online reviews. A buyer with a good reputation will give you good service and an equitable price for the gold you are selling. Don’t let yourself be taken advantage of.Check the prices before you buy. Many websites update this information and it varies every day. Never pay any more than an 8 percent markup above the spot price. Some dealers will try to charge more, but that’s overcharging, which is generally unethical.You may even be able to find valuable gold; places like thrift shops or garage sales. You can find great bargains in these places. You can take advantage of this if you research a bit.Before you get into investing or selling gold, it’s best to understand how it works. The value of gold tends to fluctuate, which is why it is important to understand the market trends. You might need to pay a higher percentage for melt values such as 1/10, and 1/2 fractional pieces.Know exactly what you actually have in your possession. Not everything that looks like gold is as valuable as the real thing. Other metals are frequently put together with gold in order to provide strength. This makes the price a lot lower. This is the case with gold plated items as well.
Earring backings are usually solid gold, even when the earrings are not.Necklace clasps and ring bands often are frequently real gold too. You can sell these smaller pieces together. Selling lightweight gold in a lot will increase your profit.Investigate the proposed delivery schedule when you are considering make a gold purchase. To ensure timely delivery request a confirmation on the shipping date. Their expected delivery date should be indicated. Don’t go through with the order if they can’t provide you with the delivery date in writing.Never sell your gold without a purpose! Gold prices keep going up, so don’t sell it unless you really need the money. You may be able to sell your gold.When you are selling gold, separate your pieces based on their karat values. Gold values vary based on karat weight, so if they are weighed together you will not get all it is worth. Higher karat value translates to higher prices.Before you mail any jewelry to a particular company which purchases such items, be sure to do your homework and check out the company thoroughly before you do so. Be sure to understand when to expect payment and how to insure your items. Finally, take a picture of everything you are putting in the mail in case there is a dispute later on.The purity of golds is measured in units called karats. The more the karats, the more expensive and pure it is per each ounce. You should not just rely on the carat stamp. You will not inadvertently purchase bad quality if you know the methods to testing gold purity tests.Make sure you look into the buyback policy of your seller. Some buyers charge you a premium to resell your gold while others do not. Consider the item by mail or coins to a local place is more logical. It is always best to hold on to the gold as soon as you purchase it from your local dealer.If you decide to take any scrap gold or jewelry to local places that pay cash for gold, shop around. Many stores will charge a higher rate than the posted spot rate for gold. Look at places where it costs less for the company to do business, so they can pay more for the gold.Having read this article in full, you now know a thing or two you previously didn’t. Improve your portfolio or make yourself some money by using these tips. Use your newly found knowledge to become a successful gold trader.