Gold prices are increasing nearly every single day. If you are curious as to where to begin in this market, know that you are able to trade gold like the pros. Here are tips that will help you sell and buy gold.
Bullion bars are a great way to invest in gold. They come in weights that vary. They start at a mere half-ounce, but also rise as high as four-hundred ounces. The 400 ounce bars are generally hard to find.
Know what gold is currently selling for. While it’s convenient to just bring your gold to a shop, do a little internet research first to see what the range is. That way, you can go in knowing how much you can expect to receive. You will know if you are being lowballed.
Think about using the Internet to sell gold. You don’t need a storefront to buy and sell gold. Many websites want to buy gold from you. Contact the site, and they’ll send out a shipping kit so you can send them your gold. If all is in working order, they’ll then pay you at their going rate.
If you think your gold has high value, have it appraised before going to make a sale. An appraiser is more likely to give you an accurate value for your pieces, while a seller might low ball you to get a better price. Bring your appraisal certificate with you when selling to ensure you’re making a fair deal.
When you are buying or selling gold to another person, make sure you are keeping yourself protected agaisnt identity theft. Avoid giving out your personal financial information. This includes bank account numbers, credit card numbers and Social Security numbers. Take special care to not give out this type of information, especially over the phone to people that you don’t know.
When looking to sell gold and you’re not sure of the value, look at getting it appraised. The up front cost is significant, but it can give you a better estimate of value. Make sure that you get a truly realistic value from an appraiser that is accredited. When you sell, you won’t get the whole appraisal value, though.
Make sure that you get your gold valued by a selection of different precious metal dealers before you agree to trade in your gold for cash. The price per gram of gold offered by different precious metal dealers can vary greatly, so it pays to get prices from many different dealers before agreeing on a deal.
Know what you have. Some items are worth way more than the actual price of the gold they are made from. This is especially true for antique coins or jewelry. Oftentimes gold jewelry features highly sought after gems in the setting too. That could make the item a lot more valuable.
Purchasing gold at retail values can be expensive and unaffordable at times. Pawn shops and consignment stores often carry a variety of gold pieces. This gold is second hand, which makes it more affordable than purchasing it in a retail store. Visit different shops until you find the perfect gold piece for you.
Be extra cautious when using a mail-away service for selling your gold. Always buy shipping insurance for your items. Know how long the dealer will hold your pieces before melting them, and know how long you have to accept or reject their offer. And keep an inventory with pictures of all the items you’ve sent.
Talk to a the gold party representative to learn how they make karat determinations. Many times the item will have a stamp. Sometimes, however, there is no visual sign, so many representatives have other methods of figuring it out. Using an acid test can be a great way to determine the karat of the gold.
Consider throwing a “gold” party in your home for friends and neighbors. Tupperware and Avon parties have been replaced by gold events hosted in many areas. Invite friends and colleagues to your home to have their gold items appraised for free by a reputable local appraiser. Once appraised, they can exchange the item for cash or decide to shop elsewhere. For your time and effort, the appraiser would pay you a commission based on the amount of gold that is sold. Look for appraisers who have direct experience with such events since they will have developed the skills needed to keep the mood light and comfortable.
One thing to see if you can get cheap gold is to see if you know anyone that has broken jewelry for sale. Simply purchase a quality jewelry scale to find the exact weight of the gold. This allows you to make a fair offer on the value of your friends’ and family members’ gold pieces.
Now that you have read through this article, ideas for selling, trading or buying gold should be bouncing through your head. No matter the route you choose, you really can achieve success. Put the above tips to use if you want to be properly prepared.
