Gold is a major player on the financial landscape. Do you wish to learn more about gold investing so that your investments have a stronger hold on them? From buying raw gold to purchasing shares in companies, there are so many things you must think about. Keep reading for some valuable tips about investing in gold.
If you want to send jewelry to a gold company via mail, check them and their conditions out carefully before going to your post office. Find out when you will receive your money, and never send your package without insuring it first. Be sure you capture photos of everything you put in the mail.
Is it better to sell your gold jewelry for melt value or as jewelry? Private sellers and pawn shops just want the melt value. If you’re prepared to put more effort into locating a buyer, though, you may make more by selling your pieces as jewelry.
It’s always a good idea to verify the spot price before making a purchase the same day. This price can be found on a number of websites. When going to buy the jewelry, you should not have to pay higher than 8% markup over the spot price. Many dealers try to overcharge you; however, by being informed you can avoid this trap.
Don’t ignore thrift stores and antique shops when searching for gold deals. When you know what to look for, you can find a great deal. Usually, you will see donated items of great value because people are unsure of their cost. Your knowledge will help you get the better end of the deal.
Be aware of the true value of your items. Appearance alone is not an accurate gauge of the value of your gold. Quite often, other metals are mixed with gold to give some strength to the metal. The price will be affected by this, often lowering it. Gold-plated items apply the same principle. If you aren’t sure what you’ve got, you should get it appraised before you sell it.
A fast, cheap way to test for gold’s authenticity is to use magnets. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. Sometimes, the only thing real about a piece of gold jewelry is the clasp. A magnet can help test jewelry quickly.
Speak with professionals to learn different strategies to find the karat value of gold. A lot of the time you’ll find a stamp on the item. In other cases, there’s no visual evidence and the rep must make the determination by an alternate method. A representative using acid tests is a sign of a less-experienced gold agent, as this kind of test is not one of the more surefire methods for karat determination.
You probably are amazed how much goes into buying and selling gold now that you’ve read the last few paragraphs. You should have the information you need in order to make the best decisions when it comes to gold. Use what you’ve just read to become the successful gold investor you’ve always wanted to be.