If you've been wanting to invest in gold previously but haven't taken the initial dive, then you're reading the right article. You need not feel scared; just rely on your ability to acquire the knowledge you require. There are many benefits to gold investing, and you should know what these are.
Prior to doing anything with gold, be it buying or selling, you must become knowledgeable about how pricing operates. Precious metal prices can fluctuate a lot, so check the markets daily, especially when making a transaction. You might need to pay a higher percentage for melt values such as 1/10, and 1/2 fractional pieces.
gold Before you purchase a gold piece, know when it is going to be delivered. If the seller delays delivery, you have to get a written confirmation on when the expected delivery date is. You should be provided with the estimated date of delivery. Don't proceed with the order until you have this information.
Prior to purchasing a gold item from a seller, you must be certain you have a firm delivery agreement. If you don't get delivery immediately, get something in writing which confirms delivery of your pieces. The confirmation should include an estimate of the delivery date. Don't buy without such a contract.
Get your jewelry appraised. While there is a cost involved, you will at least then be fully aware of what you own and what it is worth. Use an accredited appraiser for best results. Do not expect to get the full value of the appraisal, but you should try finding a buyer who will give you an amount as close to the appraisal as possible.
buy gold When you buy gold for another, make sure it has a return policy. You can't be sure when jewelry is liked by the other person or if it even fits them. If the gold turns out to be fake, make sure you get your money back.
Don't rule out getting gold items from thrift stores or antique shops. When you know what to search for, you can find great items in these places. Lots of people sell their items here for low prices, because they are not aware of the value. A little bit of effort on your part to look around can yield big results.
An inexpensive and simple way to see if an item is gold is with a regular household magnet. Precious metals like gold are not going to be attracted to a magnet. Sometimes it's the clasp that is gold, while the rest is only gold-plated. This method is good test for that.
Shop around before making any decisions about a gold buyer. The different prices you receive might shcok you. Going with the very first buyer might not be a good idea. Wait a bit of time so you have the greatest cash in your pocket.
Talk with a gold expert on how they go about attaching a price to a piece of gold, so you know how much a karat is worth. Is it based on the stamp? There are ways to determine a piece's purity if no stamp is present. The most simple test involves the use of acid. If the company claims to use that type of test, it may be an indication that they are not as experienced with accurate testing methods.
selling gold Now you are better informed about what you need to do next. Gold investment is still gaining in popularity, and you'll be in an excellent position to get into the field with the knowledge you've just gained. In time, you will reap the benefits of investment in the gold market.