What You Need To Know About Buying Gold

 

 

Many people are using gold to protect their wealth. But, even experienced investors can be confused about the gold market. Read on to learn more about gold and how you can profit from it.

Stay with reputable buyers when you sell your gold. Use resources like the Better Business Bureau and customer reviews. Reputable buyers offer great customer service along with fair prices. Protect your invest and look into these companies.

Do not expect too much from a gold party. While you will make some money by attending, they are more about having fun with friends or family. Expect to reap about 80 percent of the actual value of your gold. If you are looking to get more than that, consider dealing with a jeweler or other gold dealer.

Before you buy gold, be sure you know exactly when it will be delivered to you. If your seller doesn’t offer delivery immediately, you need written confirmation of when to expect your items. Your expected receive date should be listed. Don’t not follow through with the purchase unless you have this in hand.

Find out if you have a piece made by a well-known designer. Sometimes, the origin of the piece and the designer of the piece makes a gold piece worth more, rather than having it melted down. Tell the buyer if you have a piece done by someone noteworthy, to get a better price.

Only jewelry that is at least 10 karats can be sold to gold dealers. The more karats your piece is, the higher amount it will command on the market. Therefore, a necklace that is 14 karats should get you a better price than something that is only 10 karats. Prior to taking in your jewelry, look at each piece to determine how many karats it is. This may help you decide whether you want to sell it or not.

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.

Understanding how gold is weighed can ensure that you don’t get ripped off when selling your gold to a dealer. Gold can be weighed in Troy ounces, pennyweight, or grams. The most important thing is to make sure that whatever system the buyer is using to weigh your gold is the same one they’re calculating the payment with.

When deciphering the actual sales price of gold, you should understand the fees associated with selling gold. Dealers generally charge a commission of five to six percent for each ounce of gold sold. For example, if you are selling $100.00 worth of gold, the dealer will take $5.00 out of the proceeds for commission fees.

Everyone knows that gold has played a major role in many scenarios, from those looking to get rich to those looking for some financial comfort. To become a wise gold investor, you must become educated on the subject. The information above is sure to prove an excellent starting point for future of success in gold.

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