Many people are moving investments from stocks and bonds to precious metals for a dependable investment while the dollar continues to decline. Gold tends to be the most sought-after precious metal. Use these tips as you want to buy gold.

Get valuations for your gold from a handful of dealers at a minimum. There are a large number of venues for selling your gold, and they all use different metrics to decide on price. Getting multiple offers allows you make sure that you receive a fair price.

If you don’t have lots of money to buy gold, but still want to profit on the upside, think about buying scrap gold. Invest small amounts of money in scrap gold. After a few months, you will have accrued a significant store of gold. Protect your gold until you can sell it.

Bullion bars are a great choice if investing in gold. These bars come in a number of different weights. They can be as small as half an ounce to bars that weigh four-hundred ounces. The 400 ounce bars are considerably more challenging to find.

Research any gold buyer you are considering using and compare them to obtain the best price for a reputable buyer.

When you buy some gold jewelry for another person, make sure they have a refund policy. People’s tastes are different and you don’t know the whether the person will like what you buy. By ensuring that the dealer offers a return policy, you can help protect yourself.

Have a professional appraise your gold jewelry if you are unsure what it is worth. This may cost a small fee, but you want to know right? If you choose to sell your piece, be aware that it’s not likely for you to get full retail value of your item.

Most buyers will offer you just the melt value for gold jewelry.

If you’re going to ship your jewelry to a mail-order buyer, know how much return shipping is going to cost you in the event you don’t accept their offer. Many companies advertise no shipping costs, but they often hide large handling fees in the fine print. It’s best to be prepared so you are not surprised by return shipping charges.

Sell gold buyers who are licensed by the state. Many establishments purchase gold, so you don’t necessarily have to sell when you get the first offer.

There are many unscrupulous companies in the gold market. You have to do your research and be careful.

You need to only sell your gold to buyers that are licensed. This does not prevent you from getting scammed, but a licensed buyer probably has a better reputation. Lots of shops or individual operators are willing to purchase gold, so you should never feel you need to go with the first offer you get.

Use a magnet to quickly determine if it consists of gold or another precious metal. Precious metals do not going to be attracted to a magnet. Sometimes only plated in gold with a solid but the rest is plated. This can be a useful method is good test for that.

Research how the market is doing before investing. There may be unscrupulous dealers claiming to be market gurus who are trying to lure you to invest with them.

You could also use GoldMoney to buy gold. It is almost like opening a bank account for gold. You just sign up for your account, fund it and then you will be assigned gold. The gold remains in the bank until you sell it.

Many times the backs of earrings are solid gold, even when the actual earring is not solid. Necklace clasps and ring bands are too. You can often sell these smaller pieces together. Selling in a lot will increase your profit.

One option when selling gold is to send it away in the mail. Many sellers enjoy this process because it is simple.

Gold is a lot of fun to purchase, but refrain from announcing it to everyone. You may not know who is overhearing you, or who is trustworthy. Keep your investment to yourself and under lock and key, either with a bank or in a good home safe. This will help protect you.

Have a plan when you’re planning on putting your money into gold.Gold can be a good hedge against inflation and economic instability, but its value can also be very volatile. When you have your risks minimized, you will have better luck turning a profit.

Find out what your seller’s buyback policy. Some buyers charge premiums and fees to do business. Think about how much it would cost to send things like gold bars or coin collections to far-flung dealers. It is best to hold on to the gold as soon as you purchase it from your local dealer.

You never know where you will find valuable gold; places like thrift stores are often great places to discover good deals. If you understand what to look for, you really can find some great deals. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. You can gain from their loss!

There are a number of strategies to consider when you invest in gold. You have the choice of purchasing gold in coins, bullions, or in gold and silver equities. Hopefully you now have a better understanding of the different ways that you can invest in gold.