Most serious investors have a slice of their overall portfolio in precious metal commodities. With that in mind, nothing beats gold. Whether you are saving for retirement or just looking to make some money alone in gold, this article is going to provide you good ideas.
Research a gold buyer before selling your gold. You can see how various dealers handle customer complaints by viewing online reviews and contacting the BBB (Better Business Bureau). Soliciting multiple bids will help ensure you get the best price.
Think about using the Internet to sell gold. It is now easy to sell gold without having a physical store location. Many websites want to buy gold from you. Contact the site, and they’ll send out a shipping kit so you can send them your gold. If the transaction goes smoothly, they’ll give you a quote and you can either accept or decline the offer.
If you are not sure of the value of your gold jewelry, you may want to get it appraised. Although you’re spending some money up front, at least you’re getting fair market value for your items. In order to have it valued most accurately, go with an appraiser who is accredited and independent. Remember if you sell, you will not receive the full price of the appraisal.
Try using something like GoldMoney for buying gold. It’s like opening a bank account which trades in gold. You simply establish your account, deposit funds and receive an assignment of gold that fits the value of your account. You can redeem the gold bullion in one-kilo bars or leave it in the vault and trade it or cash it in.
Know what you are working with. A lot of the time, gold isn’t really worth what it looks like it’s worth. Gold is mixed with other metals for strength. The less gold, the less value. Also, some items may only be gold plated. If you do not know for sure the value of your gold piece, have it appraised before presenting it for sale.
Talk to multiple vendors before making a decision about which buyer you’ll go with. 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 a bit of extra time upfront so that you have the most cash possible in your pocket.
If you go to a gold party, talk to the person who organizes it to figure out how they calculate the value of the gold sold. Many pieces of jewelry will be stamped with a karat rating. In other cases, there’s no visual evidence and the rep must make the determination by an alternate method. Using an acid test can be a great way to determine the karat of the gold.
Always understand what you are signing. If you’re trying to sell gold to people through the mail, then you have to go over the fine print carefully before you sell gold. This helps you see how much is paid toward commissions and fees.
You can make gold investments without owning gold. It is possible to purchase stocks of gold mining companies, shares in a gold ETF or a mutual fund whose focus is gold. If you decide to buy gold bars or coins, consider how much it would cost to store it securely.
Now that you’ve come to the end of this article, you know a few things about gold. Take the tips you’ve learned here to help better your financial portfolio, or maybe even make yourself a little extra money. You can be very successful by using the tips you just read
