“Golden Advice”: Top Tips For Gold Selling, Buying, And More

Gold has universal value and has been a treasured commodity since it was first discovered thousands of years ago. Everyone loves gold, however knowing how to get the most bang for your buck is a little harder. This article will help you learn about buying and selling gold.

Get several opinions about the value of your gold piece before you put it up for sale. Many jewelry stores and gold buying services are available, and they will all usually take a different profit on the gold they are purchasing. You’ll get a fairer price if you’ve gotten a few estimates.

TIP! You can’t beat bullion bars for a solid gold investment. There is a great variety of different weights.

Understand the spot price of gold before selling any. If you choose to sell any gold, keep in mind that pieces that have different karat values need to be valued and weighed separately. Avoid selling any jewelry that’s worth is dependent on the designer.

Only sell to reputable buyers. Get with the Better Business Bureau or check out reviews online if you’d like to learn about someone’s business. Reputable buyers will pay fair rates for gold and will provide solid customer service. Stick with them to protect your own interests.

TIP! When it’s time to sell off gold, you should always deal with trustworthy buyers. You can find out if they’re trustworthy by looking at the BBB reviews.

When you first check out gold jewelry, you may be in for a bit of sticker shock and decide to buy gold-plated jewelry, instead. However, don’t feel that to buy gold of real value you need to pay a high price in a fine jewelry store. It is easy to get great deals on gold jewelry from online retailers or pawn shops.

It is important to invest in the right type of gold when doing so for your retirement. The IRS needs to approve the gold. You want to make sure you buy 24 karat coins or bullion bars. Try to buy gold bars more than coins, because they are much more valuable.

TIP! If you are thinking about selling some of your gold jewelry, know what the going market price for gold is. This way, you’ll know whether you’re really being offered a fair price.

Understand that gold dealers are interested in all gold items. Examples of saleable items include broken jewelry, spoons, forks, household goods, etc. Nor does it have to be 100% pure gold. Items with partial gold content, gold plating, or gold mixtures may still be valuable. You can still get a good return on the sale.

Do not be overly aggressive when dealing in the gold market. There are many unscrupulous companies out there who deal with gold. Any number of shady individuals or even business are ready and willing to rip you off. You have to do your research to keep yourself safe.

TIP! Get an appraisal if you do not know the value of your gold jewelry. This requires a bit of an investment, but it is worthwhile.

Make sure you are know exactly what you have. Everything that appears to be gold isn’t worth its own weight in it. In many cases, additional metals have been mixed with the gold to strengthen it. This reduces its price though. This is also true of items that are just plated. Have an appraisal done on large amounts of jewelry or gold whose value you are uncertain about before selling it.

You can use a magnet to test precious metal inexpensively. Gold and other real precious metals aren’t attracted to magnets. Check the clasp separately from a chain. You can test your jewelry this way.

TIP! Know that gold in any form can be sold. Old or broken jewelry, old coins and tableware are just some of the things that may contain gold, It need not be completely pure, either.

Gold is considered valuable by many people, and it can be traded without much difficulty. Investing in gold makes sense, given how often it holds or even grows in value over time. Now that you have a basic understanding about gold and its value as an investment, go out and learn all you can to help gold make money for you.