Skip the guesswork!
Give the gift of choice and delight your loved ones with Amazon Gift Cards.
Perfect for any occasion.
Wise investors have always kept gold in mind as a solid method of safeguarding wealth, but interest in the commodity has truly boomed of late. However, far too many investors lack the essential understanding of gold markets make smart decisions in terms of buying and selling. Keep reading to ensure that you are not among the latter group.
You can’t beat bullion bars for a solid gold investment. These bars are available in a number of different weights. From .5 ounces to 400 ounces, the choice is yours. The larger sizes are considerably more challenging to find.
Gold is something that changes in price all the time. This is why you should know what it’s worth prior to selling. If you have made the call to sell any gold you have, group your pieces by karat value. Try not to sell jewelry items that are valuable due to their maker.
Avoid gold coins that are being sold at flea markets and local pawn shops. They may seem like a great deal, but all that glitters is not gold. The coins may be counterfeit and/or they may have been cleaned to make them appear far more valuable than they actually are.
If the gold price is not to your liking, perhaps going with gold-filled or gold-plated jewelry is something to consider. You can acquire gold jewelry from a number of sources at a reasonable price. Try visiting a pawn shop or looking online instead.
When purchasing gold jewelry, ask the jeweler for a certificate of authenticity. This certificate is proof that you are purchasing a good piece of jewelry made of solid cold. Be sure the certificate indicates the price of the jewelry. Should you ever decide to sell your jewelry, this will be of help.
If you take jewelry or scrap gold to local companies that will pay for it, shop around. The “spot” price for gold is determined by a constantly fluctuating market, so not every store is going to pay it. Kiosks in malls and other high-traffic areas pay more in rent and operations, thus, reducing the amount of money they are able to offer for your gold.
Watch out for “pop-up” buyers. These individuals travel from place to place, putting out advertisements that lure in sellers with the promise of a big payout. In many cases, these buyers then leave town without paying the sellers what they are owed. Always do your research on anyone you are planning to sell to.
Look into any company you are considering via the Better Business Bureau. If there have been complaints lodged against the company, then it’s best for you to just move on to another buyer or seller. The BBB is an excellent first line of defense to weed out the worst companies out there.
Gold has long been part of every astute investor’s financial mix, but interest among a wide range of individuals has grown exponentially in the aftermath of the financial turmoil of recent years. The lynchpin of sound gold investing is knowledge, which takes time and effort to acquire. With any luck, the above article has been a helpful tool for accomplishing that task.