Wednesday, February 1, 2017

The Top Gold Information You Should Know About

For most people today the are looking for alternative ways to invest their money and many are turning to the area of gold. If you have been thinking about placing money into this market but don't know where to start, the tips in the article below will point you in the right direction. Read on for solid advice.

You need to know what a karat is. Gold is a soft metal so it must be combined with other metals for durability. Each karat, which is 1/24 pure gold, tells you how much gold is in the alloy compared to other metals. A piece that has less than 10 karats cannot legally be called gold.

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.

Find out if you have a piece made by a well-known designer. Sometimes, the origin of the piece and the designer of the piece makes a gold piece worth more, rather than having it melted down. Tell the buyer if you have a piece done by someone noteworthy, to get a better price.

Before actually purchasing a piece of gold jewelry, shop around. More expensive jewelry stores will charge you an arm and leg. However, the same piece of jewelry can sometimes be found elsewhere for a much lower price. You can even tell a jeweler that you saw the piece for cheaper and you may be able to negotiate with them.

Go into your gold selling knowing the current price of gold. This is a commodity that has a fluctuating price. Every day it's something new. If you aren't in the know, you could be taken advantage of by a less than reputable gold buying company. Remember, knowledge is the real power here. Go into any negotiation ready with it.

Do not sell your gold at a gold party. Although these parties are fun, sellers usually net less than 80 percent of the value of their gold at these parties. To get the most bang for your buck, find a reputable dealer that specializes in buying and selling gold.

When you go to sell your gold have it separated into how much each karat weight. When you get into the weighing process during the sale, the vendor may try and trick you by weighing everything together at the lowest karat weight. You will get significantly less money that way, and the dealer gets more. Rather, pre-separate the pieces so you can get the most money you can.

So you just read a great article on getting started in the gold market. Does this give you confidence to join the many other people who have been looking for added ways to invest their money? If you feel good about this market, take the tips you learned today and use it to wisely invest your money in gold.

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