Do you understand the gold market? Do you feel new to it all? Are you someone who has been into gold for a long time and wants to learn new things about it? Amateur or professional, anyone can benefit if they read the tips provided here. You are sure to find information that you didn’t know while reading this article.
Get several opinions about the value of your gold piece before you put it up for sale. A lot of services and jewelry stores are out there, and they will usually vary in how much they profit. Getting estimates from several establishments will help you make sure that you receive a fair price.
Only sell to reputable buyers. Contact your local Better Business Bureau to see if there have been complaints filed against a gold dealer. A good buyer will treat you well and offer a fair price on your jewelry. Protect your gold investment and yourself.
Look at the current gold market price prior to selling your pieces. That will help you determine whether or not a dealer is actually offering you a good price for your pieces. Dealers will charge you a premium on top of market value so they can make some money too.
Look into buying scrap gold if you can’t afford to get into the bigger market. You can do this over a period of time, say around each pay day, and accumulate a considerable amount of valuable gold within a year or so. Just make sure you have a safe place to store your little stockpile until it is time to upgrade.
Whenever you make an investment in gold in the form of jewelry, always ensure that you have sufficient documentation and can return it if required. People’s tastes are different and you don’t know the whether the person will like what you buy. Because this isn’t rare, it’s crucial that you have the ability to return the jewelry for a refund if it’s necessary.
Be aware that any items containing gold can be sold to someone dealing in gold. From broken jewelry to gold fillings, it can all be sold. An item need not be made purely of gold. It could be part of an item that’s gold, or just gold-plated. You still stand to make a fair amount of money selling it.
Find out the spot price for gold on the day that you’re planning to buy. The spot price is readily found on the Internet. When going to buy the jewelry, you should not have to pay higher than 8% markup over the spot price. Some sellers try charging more, but that’s overcharging, which is generally unethical.
Sell to licensed buyers only. A buyer who is licensed is likelier to be legitimate. There are a number of people out there willing to buy, so avoid thinking you have to go with the first buyer you see.
Think about shopping thrift and antique shops to discover gold treasures. If you know what you are looking for, there are bargains to be found in such places. Lots of folks donate items or sell them in such venues simply because they lack knowledge of their true value. You can take advantage of this if you just know what to look for.
Once you have all these things in your mind you can really start to get into gold. You will be able to sell and buy knowing that you’re doing the right thing and you can make a lot of money. This is all you can expect in the end, so use the tips discussed to get you there.