Gold is crucial to our economy, but its popularity in the current market has increased because of the shaky economy. This article will help you learn about the different ways to invest. Keep reading to find some useful tips on investing in gold.

Do not dabble in the gold market until you are familiar with pricing of precious metals works? Silver, gold and platinum prices fluctuate often, so spot check a price on the day you plan to do business. You should be ready to pay a higher percentage for fractional pieces like half ounces and quarter ounces over the melt values if you’re buying less than one ounce pieces.

Attain more than one estimate of the value of your gold. Venues that buy gold will only pay you a percentage of what your gold is worth in order to make a profit. You’ll get a fairer price if you’ve gotten a few estimates.

Think about using the Internet.You don’t have a jewelry store location anymore. You can find a lot of many websites to sell gold. The site will send you a special kit in your items.

Before you put down your money for gold, know when it is going to be delivered. If your seller doesn’t offer delivery immediately, get the delivery date in writing. The date should be noted somewhere. Don’t order without this information.

If you are interested in investing in the gold market, but do not have lare amounts of capital, consider purchasing scrap gold. After a year of buying a little gold each payday, you could end up with a valuable collection of scrap gold. Keep your collection safe until you have an sufficient amount to cash in.

If you’re selling gold through a mail-in service, do some research on them and their policies before you do so. Find out when you will receive your money, and get insurance for your package.

If you’d like to sell scrap gold or jewels, check out more than one.

Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. Many stores do not pay the going rate for gold. The overhead of the store involved may determine how much or little they are able to offer.

Make sure that you only selling to someone who has a license to purchase gold. There are plenty of buyers for gold, so don’t feel pressured to take the first offer you get.

Don’t discount the value of looking for gold in vintage or antique shops. You can find great bargains in these places. You can reap the benefits of this if you do your homework first.

Your buyers should always have gold-buying licenses from the state. This does not prevent you from getting scammed, but a licensed buyer probably has a better reputation. There are a number of people out there willing to buy, so avoid thinking you have to go with the first buyer you see.

Research all that you can before investing in it. There may be people claiming to be market gurus who are trying to lure you to invest with them.

Gold is a lucrative but volatile investment. If you do not have the stomach for quick jumps up and down, perhaps the gold market is not for you. Even if you are okay with taking the risk, you must take steps to minimize that risk. Only invest a small portion of your portfolio should be invested in gold. A good limit is about five percent.

GoldMoney could be a good resource when you want to buy gold. It is akin to establishing a bank account in which you deposit gold. You make an account, bank your money, and then you receive gold at the price you chose for your account. The gold itself is in a vault at a bank, and you can cash it or redeem it for gold bullions.

Ask people you know for broken jewelry. If you can buy it from them at below melt value, you can offer friends and family a higher price than what they would receive at a pawnshop.

If you like to invest in gold for its value and its beauty, be sure your jewelry is made of pure gold. Jewelry makes a fashion statement too.

While purchasing gold can be quite exhilarating, try not to discuss your purchase with others. You don’t know who to trust or who is listening. Play your cards close to your chest and keep your gold in a home safe or a safety deposit box at your bank. This will help protect you.

Don’t get too far over your strategies. Avoid using gold futures and other popular types of gold investment. Futures are complex and unpredictable. You can sometimes lose vast amounts of money if you are not sure how to invest. Avoid dabbling in intricate investments such as it takes a seasoned investor to sort it out.

Sell your gold coins when it is peaking.The stock market and down everyday. Sell gold when the market starts to creep back up.

Don’t avoid searching antique shops or thrift stores for gold. When you know what to look for, you can find a great deal. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. You stand to gain a great deal if you come armed with a bit of research.

Be sure you are getting what you are purchasing. Some “gold” coins out there that you may think are gold plated.

If you’re selling a lot of jewelry, have each one weighed separately when selling. This will ensure that you are accurately paid for your gold pieces.

Comparison shop prior to selecting your gold buyer. You might be amazed by the variety of offers received. If you choose to sell to the first buyer, you might get a bad deal. Take your time to help you net the most cash.

Take photos of all your gold pieces before you let a prospective buyer inspect them. Also inquire about their reimbursement policy should the jewelry suddenly go missing when it’s in the buyer’s hands. Get everything written down because it will protect you.

Everyone knows that gold is valuable. This most recent economic decline, felt around the world, has only strengthened gold’s position. You should understand how to successfully use gold to build your wealth after reading this article.

A quick and inexpensive way to test a piece of gold or precious metal to see if it is real, is by using a magnet. Precious metals do not respond to magnets. Check the chain as well as the clasp for an accurate reading. Using this technique will help ensure your pieces are solid gold.