Expert Advice On How To Increase Your Knowledge Of Gold

 

 

Gold has always been a prized possession and a valued commodity. It retains its value even in the toughest of economic times. It is prized for its value and for the beauty of it when worn. If you are looking to buy some gold, here are some tips to guide you.

If you’re interested in buying gold from a dealer, make sure he is reputable. Avoid doing business with anyone who doesn’t have at least 10 years of experience in the business, because that’s one of the most important prerequisites to have. Someone who has been around for a decade is likely to be trustworthy and knowledgeable enough to make you money.

When buying gold, beware of scam artists. Always buy from a reputable dealer, and beware of any offers such as free storage or delays in delivery time. Sometimes these dealers will take your money and never provide you with the gold you were promised. Check out your dealer at the BBB before buying to make sure you are working with someone ethical.

Remember to look for gold in thrift and antique shops. When you know what to search for, you can find great items in these places. Lots of folks donate items or sell them in such venues simply because they lack knowledge of their true value. If you are smart, you can make a great profit.

You can use a magnet to determine the authenticity of gold. It is true that precious metals are not attracted to magnets. Certain pieces have a clasp made of real gold while the remaining parts are plated. A magnet can help test jewelry quickly.

Be very careful when buying gold off of the Internet, you never know who it is you are actually dealing with. You may be thinking you are getting gold from a reputable dealer, and the person you are dealing with is a scam artist that is only after your financial information.

Do NOT sell your scrap gold or gold jewelery to a company wanting to do so through the mail. These types of operations pay less than pennies on the dollar and you will have no recourse once you receive your measly check from them. Visit a dealer in person, get a real evaluation and try to sell it to them.

Instead of immediately thinking you have scrap gold, take it to get appraised first. This is true for pieces made with fine craftsmanship. Although you may be charged a fee for the appraisal, it may earn you more money in the long run. Appraisers might be aware of someone that wants to purchase your jewelry.

You may be able to find antique jewelry at resale shops or antique stores that can be sold for more than you paid for it. Make sure to check the gold stamp to determine if it is 24K. This means the gold content is relatively high and you will be able to sell it at a higher price.

It is easy to see why gold has always been such a highly regarded possession. Its beauty and value stands the test of time. Hopefully, you have learned more about gold and how to buy it. So take what you have learned and get started on your very own gold collection today.

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