Gold has a long history of being a prized metal. Since discovery centuries ago, man has valued gold. If you want to invest in some gold, then these tips are going to assist you in getting started.
Never deal with a gold buyer or seller who does not have a favorable reputation. Their reputation can be verified though online sources, as well as the BBB. A good buyer will treat you well and offer a fair price on your jewelry. You have to protect your investment as well as yourself.
Before you get into investing or selling gold, it’s best to understand how it works. The prices of metals like platinum, gold and silver can fluctuate greatly in just one day. Before you do any buying or selling, check the market prices beforehand. Also be ready to pay increasingly higher percentages above melt values for any gold pieces that are fractional. These include 1/10, 1/2 and 1/4 ounce pieces.
Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. If the seller delays delivery, you have to get a written confirmation on when the expected delivery date is. Your expected receive date should be listed. Proceed with an order only if this information is forthcoming.
Be aware of the going rate of gold before you sell you gold items. That way you will be able to ascertain if a dealer is providing you with a fair price or not for your pieces. While dealers often give you market value, some are used to sellers wanting quick cash.
Only certain kinds of gold are suitable for contributing to your retirement fund. The gold has to be IRS approved. It needs to be either 24 karat coins or bullion bars. Lean towards buying the bars over the coins as they hold more value than coins.
Understand that gold dealers are interested in all gold items. This could be jewelry pieces which are broken, home decor, tableware or any other gold items you have around. Having 100% gold isn’t required, either. Even something partially gold or just gold-plated might mean money. Any amount of gold will get you back a nice amount of money.
Be sure the buyer you are considering is licensed by the state to make gold purchases. Most states require that dealers be licensed when dealing with the buying and selling of gold. There are many stores and individual buyers looking to purchase gold, so always know you have multiple options, and never just the first deal that comes up.
Now you know why gold is so valuable. Not only does gold look beautiful when worn, it is always a very worthwhile investment. Take the things you’ve learned from the above article and use them to your advantage when dealing with gold.