Over the past few years, the price of gold has shot up even as other investment opportunities have stumbled. Savvy investors have taken careful note of this fact, and interest in gold investing is at an all-time high now. If you wish to trade in gold, you have to really get the knowledge to do so from people that know what they're talking about. Get started on the pathway to gold investing by continuing to read below.
Bullion bars are hands down your best gold investment. The weights will vary. They start at a mere half-ounce, but also rise as high as four-hundred ounces. It will be harder to find the bigger bars.
If you're going to ship your jewelry to a mail-order buyer, know how much return shipping is going to cost you in the event you don't accept their offer. A lot of companies say they'll let you ship for free, but to get things back they charge quite a bit. Find out how much you will have to spend in order to get your gold back if you decide not to sell it for the price offered.
selling gold If you'd like to leap into the world of gold investing without having to pony up a large amount of money at the start, buying scrap gold may be the right tactic for you. If you do this on a regular basis your collection would grow quite quickly. Find a secure place for your stash until there is enough for you to cash it in.
Make sure you verify the price of gold the same day you plan to buy it. This information is readily available online. Be aware that it is updated every day. 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.
Comparison shop when selling old gold jewelry. Bear in mind that the market price for gold you can find online (the "spot") is only an average; different dealers will offer you different prices under (or even over) the spot. Look at places where it costs less for the company to do business, so they can pay more for the gold.
Take a look at the spot price prior to going out to purchase gold. The spot price can be found in many places, and it tends to fluctuate often. Never pay in excess of 8% markup above the spot price. Paying that price would simply be unfair to you.
You should note that even if a whole piece of jewelry is not solid gold, the backs of earrings or clasps may be. In addition, necklace clasps or ring bands may be gold, too. If you want to sell these, though, you need to get quite a few of them together to make it worth it. That means they are collected into an assortment that can bring a better price together.
Know what you've really got. Just because something looks like gold doesn't mean it is worth gold's weight. Gold is mixed with other metals for strength. This may lower the price. This applies to gold plated items as well. If you don't know how much your gold is worth, then it would be wise for someone to appraise its worth if you intend on selling it.
selling gold jewelry Now more than ever, investors from all walks of life look to gold as a safe way to protect and grow their financial assets. Perhaps you have bee among those wanting to learn more. By using the guidance in this piece, you can truly succeed. price of gold