For thousands of years, humans have treasured gold and regarded it as a prized possession. You can buy it as an investment or as a beautiful piece of jewelry for the one you love. If you are looking to get into buying more gold, here are some tips to help you invest wisely.
Changes in the current price of gold will affect the price you will get. If you choose to sell any gold, keep in mind that pieces that have different karat values need to be valued and weighed separately. Don’t sell jewelry that’s worth more due to maker or designer.
Before selling any of your gold, check to see what the current sales price is. This will help ensure that you are getting the amount of money you deserve. There are many reputable sites available online that will help you on coming up with a fair price for your gold.
If you decide to invest in gold, find out which type of gold is the best investment for you. Most investors buy gold bullion bars or gold coins. This type of gold requires a sizable investment. Gold bars are available in a wide variety of sizes from half an ounce to 400 ounces.
If you are thinking about becoming a buyer or seller of gold, make sure you are legal! In the United States, you must have a license to purchase, sell or trade gold in any quantities on a regular basis. Check with your city or town about how to become licensed, and then enjoy your new entitlement to dealing in gold.
When trying to determine if something is real gold or not, try holding it up to a magnet. Since true gold does not have any magnetic properties, it shouldn’t respond at all. If you observe any attraction between your “gold” and the magnet, you’ve probably been fooled or simply found a good imitation.
Check your local Better Business Bureau before purchasing or selling gold to a dealer. Your local Better Business Bureau will have a record of any complaints lodged about a company. By checking with your Better Business Bureau, you can ensure that you are selling or buying from a reputable dealer.
If you are interested in reaping the benefits of selling gold but do not have any gold to sell yourself, consider organizing a gold party. This is a party where you invite your friends and family to sell their gold pieces. You invite an appraiser to make the purchases, and you receive proceeds from the profits earned.
Be realistic about the price you want for your gold pieces. Remember that any buyer will want to earn a profit, so they will never pay you one hundred percent value for the gold you are selling. If they offer you seventy five or eighty percent of the value, they are usually giving you a fair deal.
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.
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.
Get multiple bids before deciding on the final offer that you’ll take. The logic is simple: every dealer will offer something different. You want the best possible price for your gold, so you owe it to yourself to get at the minimum three bids prior to a final decision. It can turn a good deal into a great one.
Any sound investment strategy recognizes the necessity of diversifying your portfolio. Most financial advisers recommended that investments in gold should represent no more than 10 to 30 percent of your total assets. This amount leaves plenty of room in your portfolio for other types of products to round out your portfolio.
Hold on to or look for US gold coins made prior to 1933. Before 1933, gold coins were circulated throughout America. However, President Roosevelt recalled gold coins. However, a lot of people kept their gold coins which you can still buy from dealers today.
As you have seen, gold is a highly prized, precious metal. It has lasting value and can be a wise investment if you know how to do it. Now you are better educated about gold and how to buy it. So get started on your own collection of gold today.
