Lots of folks buy gold because they see it as a safe investment. However, this is not always the case. For more gold information, read the following piece.
Beware of buying or selling gold from any mobile offices or cold-call solicitations. These “businesses” are set up in temporary locations that include inns and motels. They claim to offer instant cash for silver and gold pieces, especially coins. They enjoy taking pieces to make a profit for unfair or no compensation.
If you have a nice gold piece, consider selling it privately rather than through a gold purchasing agency or jewelry store. Many companies that are in business to buy gold will only buy it to melt and sell, meaning they will pay only for the weight of the gold. An individual who likes your piece might be willing to pay a higher price tag, because they are likely to keep and enjoy the piece.
Only sell to reputable buyers. Verify their good standing by checking with the BBB and reviews online. A legit buyer will offer a fair amount for the gold you have. Protect your gold investment and yourself.
Before you put down your money for gold, make sure you have a firm delivery commitment from the seller. When dealing with a vendor, it pays to seek written confirmation of the expected delivery date. This is crucial if they do not offer the option to deliver immediately. You should have the date of delivery clearly listed. Only complete the order if given this documentation.
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.
Sort your jewelry before heading in to sell it, putting all the 10 karat pieces together, all the 14 karat pieces together and so on. This will help ensure that your jewelry is weighed separately. There are dealers that will simply throw everything in together and only pay you as if it is all 10 karats.
Use GoldMoney to buy gold. It is kind of like setting up a gold “bank account.” With this service the money in your account is converted into gold. You can redeem the gold bullion in one-kilo bars or leave it in the vault and trade it or cash it in.
It is necessary to find a reputable dealer you can trust if you wish to purchase gold coins or bullion. Caution is required to avoid purchasing low quality gold from a scam artist. It can be extremely difficult to sell this gold at a later date and you will probably lose money.
When purchasing gold coins, it is important to buy from a reputable dealer. Whether you purchase from a seller specializing in gold coins or from a government mint, you want someone who is honest. To help you get the best deal on a coin, always comparison shop before buying a gold coin.
Use dollar cost averaging to limit your risk in gold investing. That means putting a certain amount of money aside for gold investing each month. That way you buy at low and higher prices and don’t try to time the price. Over time, this insures you get a good price and limits your risk.
There is very little state regulation and no federal regulation to help gold buyers find a reputable dealer. You can always check with the Better Business Bureau and check online reviews for information about specific gold dealers. The US Mint has a list of authorized purchasers and another listing of gold dealers by state.
One of the best ways to get cash for unwanted gold items is to deal with a local dealer or pawn shop that specializes in buying gold. When you sell locally, you will avoid the risk of your gold items being lost in transit. A local jeweler is also a good option.
If you are shopping for gold, do not forget to look on the Internet. There are many legitimate websites that offer gold coins for sale. To help protect you from fraud, contact your local Better Business Bureau and see if any complaints or reports have been filed against the company.
Sellers of gold coins should be extra careful when choosing a dealer to buy their coins. The market values of coins have different components that can affect the price. The rarity of a piece may make it worth even more than the value of the gold alone. A reputable broker that has a great reputation is key in making sure you aren’t taken to the cleaners in the deal.
Entering the gold market need not be daunting as long as you do your research. Now, you’re ready to go panning for gold. Follow this advice to reap good returns on your gold investments.