For centuries, gold is something that people desire. Not only does it look great, but it has a high value as well. But, how much do you really know about gold? Do you feel like you would benefit from learning more? If so, the following article will be of great help.
If you have a particularly nice piece of jewelry, you may be able to get more money for it as is rather than selling it to someone to melt down. This is particularly true if the item was made by a popular designer. Investigate your options before you just go forward with a sale.
If you’re buying gold to save for your retirement, buy the right type. The IRS has to approve the gold. It must be in the form of 24K coins or bullion bars. Bars are generally more valuable than coins and should, therefore, be favored.
Though it is much more cheaper, try to avoid gold plated jewelry. When worn frequently, these pieces of jewelry tend to rub against the skin, causing it to wear down and turn colors. If you do insist on wearing this kind of jewelry, do not do so on an everyday basis.
Research gold buyers. If you decide to send your gold out of state, make sure your package is certified and insured. You will probably feel more confident selling your gold to a reputable local business that has a storefront. Either way, you should check with the Better Business Bureau.
Understand how gold much gold is in each ounce. For example, 18 carat gold contains more gold than 14 carat. This is because in 18 carat gold there is 18 parts gold and 10 parts other alloys. In 14 carat gold, there is 14 parts gold and 10 parts other alloys. For this reason, 18 carat gold sells for more than 14 carat gold.
Do not allow different carats of gold to be weighed together. This is because dealers will base the price on the lowest carat gold. Each carat of gold is mixed with 10 parts of other alloys; thus, a 10 carat weight gold ring will be worth much less than an 18 carat gold ring.
Try saving on gold by buying some at regular intervals. It doesn’t even matter what the current gold price is. Every month or every regular period, try to buy some gold. Its price may be higher one month and lower the next, but that doesn’t matter. The consistency is what matters since its value will eventually even out and rise later on due to gold’s value going against the value of currency.
Do NOT sell your scrap gold or gold jewelery to a company wanting to do so through the mail. These types of operations pay less than pennies on the dollar and you will have no recourse once you receive your measly check from them. Visit a dealer in person, get a real evaluation and try to sell it to them.
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.
Before selling your gold, contact your local Better Business Bureau. It has basic company information on them, along with complaints and reviews from those that have dealt with them. Look closely at complaints to find out whether or not they were satisfactorily resolved. If you see many complaints, then you need to find another business.
Do not purchase gold jewelry with the idea that it is an good investment. Because the gold in jewelry is not pure, it is unlikely it will ever be worth its purchase price. A much safer choice for investing in gold is to purchase gold coins, bullion or gold stocks.
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.
Know how to test the grade of gold if you are investing in gold. Purity is rated in karats. A higher number indicates a higher degree of purity and, therefore, a higher price. You cannot just go by the karat stamp. You won’t pay too much for poor quality when you know the methods to testing gold purity.
Now that you have read this article, you probably realize you did not know as much about gold as you thought you did. Most people really do not know much about this precious metal. With the above tips, you can make sure you are taking advantage of all that gold can offer.
