Gold is valued universally and has been seen as a commodity for thousands of years. Everyone loves gold even though they all don’t know how to acquire it. If you are interested in buying gold, keep reading to learn more about investing in gold.
Gold bars are the most economical choice for investment purposes. The weights vary. They range from just under an ounce on up to 400 ounces. If the 400-ounce bars interest you, you’re going to have a hard time finding them.
Do careful and thorough research on any gold seller you are considering doing business with. You can look at online reviews, check at the consumer protection organizations or read on message boards about complaints. If you get quotes from multiple buyers, you will get the most for your gold.
Before selling you gold through the mail, be sure you know what the procedure is for getting your items back and any costs involved in doing so. Even if you do not pay for shipping the gold initially, return shipping is an entirely different matter. Be sure you figure out what things will cost before you start mailing off your jewelry.
Remember to look for gold in thrift and antique shops. If you are aware of what to search for, you can find bargains in these places. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. You stand to gain a great deal if you come armed with a bit of research.
When attempting to sell your gold, you want to do your research into the market price. Look around to understand what people are asking for similar pieces. This will give you a price point to work with. People will haggle, so ask for more than you will actually settle on.
A magnet can help you determine if a gold piece is solid. Real gold won’t stick to a magnet. Sometimes it’s the clasp that is gold, while the rest is only gold-plated. This can be a useful method of testing for that.
A lot of times, the earring posts are made from solid gold even though the earring may not be. The bands to rings and necklace clasps are often times real as well. Since such pieces often weigh little, attempt selling them in a “lot”. That means they are collected into an assortment that can bring a better price together.
Be sure to check the credentials of all gold buyers, jewelry stores and dealers with the Better Business Bureau. They will have basic information about the business listed, along with any reviews or complaints from others that have done business with them. Keep a close eye out for any complaints not fully resolved. If you see lots of complaints that have gone unresolved, think about moving on.
You don’t have to own gold to invest in it. Buying gold-focused mutual funds and stock in companies that mine gold are other options for investing in gold. If you decide to buy gold bars or coins, consider how much it would cost to store it securely.
As this article has shown you, gold is a great thing to own and to invest in as well. It only makes sense that you trade gold because of how its value increases. Armed with this knowledge, you are ready to start your own gold collection.