Do You Love Gold? If So, This Is For You
As the dollar has declined in value lately, gold has looked like a more and more attractive investment. Gold is an extremely popular investment within the field of precious metals, and it helps offset your other investments. The tips below will help you invest in gold intelligently.
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Fully research any buyer that you're considering sending jewelry to through the mail. Find out when you will receive your money, and never send your package without insuring it first. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.
You may think that solid gold jewelry is too expensive and choose to purchase gold plated or filled jewelry. You can still buy gold jewelry without spending too much at the jewelry store. Pawn shops can offer many good deals and there are also many online buying options.
Get your jewelry appraised. The up front cost is significant, but it can give you a better estimate of value. For the most accurate appraisal, use the services of an accredited and independent appraiser. If you're going to sell the gold you have, you're not going to get the appraisal value.
GoldMoney is a popular resource to use in gold buying efforts. It's akin to opening up a bank account but with gold instead. You simply establish your account, deposit funds and receive an assignment of gold that fits the value of your account. It then is kept in a vault. The gold is yours to cash in if you wish. You may also redeem it for physical gold later.
Comparison shop when selling old gold jewelry. Though there may be a standard market price for gold at a particular moment in time, not every store will pay it. Kiosks in malls and other high-traffic areas pay more in rent and operations, thus, reducing the amount of money they are able to offer for your gold.
Research the market price of gold before you attempt to sell yours. Check out the competition and what they are offering. Doing this will provide you with a helpful price to work around. Ask a bit above it to give room for negotiation.
Before you sell gold, put it in different karat weights. Some vendors may try to weigh all of your items at one time and pay you for the lowest karat. You will get significantly less money that way, and the dealer gets more. Have your pieces split up by karats in advance so that you can maximize the return you get out of the sale.
You can sell gold by mailing it to a buyer. This is an easy way to get the job done. They provide the envelope to send your jewelry ,but you should have your package certified and insured. However, remember that these companies often don't pay as much for your gold as other places. Keep in mind that the convenience of mailing your gold is going to take a substantial chunk out of the money you end up receiving.
Many times earring posts are made of solid gold, even when the actual earring is not solid. Many rings and clasps for bracelets and necklaces are gold too. Attempt to sell pieces such as these as a "lot" since those pieces are fairly lightweight. Selling in quantity increases your profit.
It is easy to invest in gold when you understand the gold market. The tips above have given you the necessary information. Use the tips to help you invest more wisely.