Wednesday, October 26, 2016

Top Pointers To Help You When Dealing With Gold

It glistens in the light like flaxen blonde hair. Like a river of molten lava, it reflects the glory of the sun on your wrist. Gold is a mesmerizing precious metal which many can't get enough of. If you'd like to start trading on the gold market, the tips below will help you succeed.

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.

Just like you would do a price comparison on a vehicle you are interested in purchasing, make sure you go to more than one place to inquire about the value of your gold. Different shops and dealers are going to quote you different prices. Get the most money possible for your jewelry.

Protect yourself from dishonest people who are trying to steal your identity. One way to ensure that you are protected is to purchase gold locally from a reputable dealer. Never give your personal information out over the phone, including your Social Security number and credit card information, unless you are certain that it is a reputable company.

Know what you are selling. For example, a 14 karat gold necklace may be worth by selling it as a necklace rather than selling it based on the selling price of gold. If you have a lot of broken jewelry, you may make more money selling it for the price of gold than selling it as jewelry.

Always identify the karat value of your jewelry when you walk into the store to sell it. Some dealers will try to convince their customers that the karat value of a piece is lower than it actually is, and this results in less money in the consumer's pocket. Have a clear understanding of your piece's actual weight so this doesn't happen to you.

When buying gold jewelry online, make sure to get written confirmation of your delivery date before finalizing the deal. Ideally, delivery should take place in a very short period of time. If it will be delayed, find out why and for how long. This protects you as the consumer, and it gives you information that would stand up in court if necessary.

When you are strapped for cash, sell your gold. Anything containing gold can be sold. This includes bracelets, necklaces and other jewelry. Gold plated china, gold plated cups and even dental gold can be sold for extra cash. Additionally, broken jewelry, gold coins and gold bullions can also be sold to a gold dealer.

To get the best deal and to protect yourself, always research the buyer of your gold. If you choose to use a mail-away gold buying service, be sure you requested the service. Don't just mail your gold and personal information off to someone who has asked you to. Look for gold companies that are listed in the BBB to ensure that you are working with a reputable business.

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.

If your plan is to invest a large amount in gold, it is better than you invest it in physical gold instead of ETFs. The holding costs end up being cheaper than those of ETFs when you have higher amounts of money invested, plus the longer you hold onto it, the more you save.

If you aren't ready for gold, you can always start investing in the cheaper option of silver. Once you get a feel for the market, you can turn your profits from silver into an investment directly in gold. The gold market is more stable than silver and can bring you greater profits.

Even when you plan to trade on the gold market, you need to start with a demo account. It is important that you test your theories before taking them live. If you end up losing all of your money because you made a mistake in a calculation, you will never forget it.

Never buy gold from a telemarketer. These cold call sellers may use high-pressure sales tactics and inflated assertions about the potential for returns on gold investments. The number of scams involving the purchase of gold is increasing. Only buy gold from reputable dealers and insist on getting physical possession of the gold.

Before mailing any items to a gold dealer, get an appraisal of each piece of gold you are sending. This will act as both a written verification of the items shipped as well as the value of each item that is enclosed. Furnish a copy of the appraisal to the dealer as well as keeping a copy of each appraiser for yourself.

Selling your junk gold will more than likely not cause you to get rich quick. Many people have seen a barrage of ads on TV that state you can make big bucks by selling off your old gold. But unless a person has an extraordinary amount of gold, that's not always true. Some people just get a couple of hundred dollar bills for the gold they have.

If you are buying gold jewelry to wear on a daily basis, opt for the highest karat level of gold that you can afford. Jewelry that's gold plated can wear out the plating over time. This can cause allergic reactions or even stain the skin that it's touching. Pure gold is much more durable.

Everyone loves to wear gold, but few have the fortitude to trade it on the open market. You have decided this endeavor is one worth undertaking, and these tips will help you get the job done. Go forward, continue learning and use your great gold market knowledge to your advantage.

0 comments:

Post a Comment