Gold has always had the reputation of being a highly prized commodity. Man has treasured gold since it was first discovered thousands of years ago. Beyond gold’s natural beauty, it has also acted as a way to store and accumulate wealth. If you want to buy or sell gold, read these tips.
Before buying or selling gold, know how all the prices work. The prices of precious metals fluctuates daily, so it’s best to know the price of the day. You must to pay a premium to the melt values if you’re buying less than one ounce pieces.
You should think about selling gold over the Internet. You don’t need to have a physical store location anymore. You can use various websites to sell gold. The online business will provide you with a special kit that you can use to send your gold pieces. If everything is okay, they will pay you whatever their current rates are.
Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. When dealing with a vendor, it pays to seek written confirmation of the expected delivery date. This is crucial if they do not offer the option to deliver immediately. The confirmation should include an estimate of the delivery date. Don’t not follow through with the purchase unless you have this in hand.
Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. All stores won’t pay market price for your gold, since they are all in business to make a profit. Stores which are not centrally located may be able to give you a better price.
Only make a sale to buyers who hold a state license in buying gold. Though you still may be taken, licensed buyers tend to be more trustworthy. There are a lot of stores and individuals that will buy gold, so don’t feel like you have to sell to the first person you come across.
GoldMoney could be a good resource when you want to buy gold. It’s akin to opening up a bank account but with gold instead. You can open an account, fund it and then determine what price you wish to pay for gold allocation. The gold will physically sit in the bank where you can cash it, portion it, or in some circumstances, you can redeem it for gold bullion bars that weigh a kilo.
When selling gold, research the market price. You should see if you can figure out what people are selling pieces like yours for as well. This will give you a price point to work with. Always see if you can get a little more than they’re asking if they allow you to negotiate.
Many people don’t know that a magnet can be used to test whether something is made of gold or some other type of metal that is precious. Real gold won’t stick to a magnet. Sometimes it’s the clasp that is gold, while the rest is only gold-plated. Using a magnet is an excellent way to find this out.
Speak with the representative at the gold party to find out how they determine how many karats a piece of jewelry is. Many times you will see the item have a stamp on it. Some sellers are trained to calculate the value of a piece of gold that is not stamped. Acid tests are simple ways to do this, so if the rep does this, they’re probably new to the business.
Now you know a lot more about gold. Not only is gold a beautiful metal to wear, but it’s a good investment. Take the information here to start your investments in gold.