Would you like to know more about investing in gold? Gold is one of those investments that can help you battle rough economic times and can stabilize an aggressive portfolio. Continue reading so that you can gain some valuable information that can help you be on your way to investing with gold.
Use caution when buying your gold. Make sure that you are buying from a reputable seller. You can learn who you can trust by searching the Better Business Bureau website and other resources like it. If you attempt to buy your gold through online actions, pay special attention to the seller's history.
When buying gold, it is best to buy in larger weights. The more the gold weighs, the less you will pay per ounce. Take your time when buying gold to be sure to shop around for the best price for the weight that you are intending to buy to be sure you are investing wisely.
Have an understanding of the current market value of gold before you sell it. You can call a jewelry store for this information. Gold value changes often, sometimes from day to day, and you want to make sure your buyer is offering you a fair price for your pieces, based on current market value.
When mailing your gold away for sale, make sure to read all the fine print before sending it in. Some buyers have less than stellar reputations, and you will not see this until you read the fine print. Make sure you are comfortable with all the terms you are agreeing to, or look to another location to sell your gold.
Steer clear of any "act now" offers. The gold industry is filled with less than reputable types that want you to take immediate action. Why? Because typically, they'll get the better end of the deal because you didn't read through the fine print. Instead, walk away from these types of deals and be patient in how you approach the market.
Try using something like GoldMoney for buying gold. It's like opening a bank account which trades in gold. With this service the money in your account is converted into gold. 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, it pays to shop around. This includes checking with several dealers both locally and nationally. To get the most bang for your buck, ask what fees will be assessed during the sale. Just because a dealer is offering to pay more per ounce, does not always equate to more money in your pocket. This extra money can be ate up by fees and commissions.
When looking to buy gold as an investment, it is important that you invest in solid gold. There are many phrases you should look out for such as "gold clad," "gold enveloped" because these are just fancy words for gold plated. This means under the gold is a different metal, which drastically drives down the value.
If you are planning to sell at an expo, proceed with caution. Many expos advertise that they offer the best prices, twice as much as local jewelry stores, but this is not always true. These expos work on the premise of urgency, and they will disappear after one day of buying pieces. Make sure you know what your gold is worth before ever stepping foot inside one.
Many people find purchasing gold stocks is a wise investment for their portfolio. When stock of companies lose value, the value of gold stocks rise so this provides some protection for their long term investments. Many investment counselors are now recommending inclusion of precious metal stocks in long term retirement accounts.
If you are selling gold jewelry that is covered with other stones, never leave the gold dealer without those stones on you. Some shady dealers will try and pocket those gems so that they can sell them elsewhere. Even if you don't hink they're worth anything, it's best to get them before leaving.
Keep in mind that most gold dealers are not interested in plated or gold filled pieces. They want the pieces to melt down, and they will only pay you based on the melt down value. Plated and gold filled pieces can't really be melted down for any profit, so they will usually turn those pieces away.
When you are investing in gold bullions or coins, stay away from high premiums. A premium of ten percent is usually the acceptable average because this is fairly close to the spot price. If you pay a high premium, the actual price of the gold will need to go higher in order for you to realize a profit.
Be aware of the type of gold you are purchasing. Many gold coins are only plated in gold. One way to ensure that you are getting an actual gold coin is by asking that the coin be appraised by a certified appraiser before purchasing it.
If your gold piece has precious stones attached, consider getting them removed by a professional prior to selling the gold. Those gems may have a lot of value on their own, so you'll want to take great care of them. And before you do any of this, get the jewelry appraised. It may be worth more just as it is.
When selling gold jewelry, it is important to know the karat of your gold. One way to easily identify your karat is by visually inspecting each piece of jewelry. Each piece will be stamped verifying the karat of the gold. Additionally, if you have an older piece that is not stamped, have it appraised before selling.
Now that you've read this article, you should feel more prepared to take that next step forward. It's time to add gold to your investment portfolio, and it's time to see how it can affect your portfolio in a very positive way. Be sure that you continue to look into it as you would with any investment.
Orignal From: What You Need To Know To Cash In On Your Gold
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