Hone Your Gold Knowledge By Using This Expert Advice

To add gold to your investment portfolio, there are a few things you must know. It is a bit more complex than just jumping in, but it need not be too complicated if you have the right information. This article is here to help you learn about investing in gold.

Fully research any buyer that you’re considering sending jewelry to through the mail. Be sure you figure out when you’ll get sent a payment, and be sure things are insured too. Last, but not least, photograph each item you are sending via mail so that you have recourse if a dispute occurs.

TIP! If you are considering a gold buyer, do some research on him to make sure he is reputable. Look for online reviews and check the BBB website for complaints and resolutions.

If you are purchasing gold jewelry for another person, you must be certain about the return policy. You have no idea if the person for whom you are purchasing the piece will like it or if it will fit. It’s always a good idea to be able to get your money back on a jewelry purchase if it doesn’t work out for you.

If you will be selling your gold, shop around for best prices. The current value of gold may be one price, but that certainly doesn’t mean every buyer is willing to offer it. Some stores outside of busy urban areas do not have to pay as much on rents as stores located in a shopping mall and will offer a better price.

TIP! Try selling gold online. You don’t have to go to a jewelry store or pawn shop.

When selling jewelry, be aware that most gold buyers will only pay you on the melt value. Pawn brokers and private sellers may just want to pay melt value. Don’t get discouraged since there’s a buyer out there that wants your pieces.

Make sure you know the spot price of gold the day you plan to buy or sell. Many sites offer this information, plus it changes every day. When going to buy the jewelry, you should not have to pay higher than 8% markup over the spot price. Many times sellers will try to sell it at a higher price.

TIP! If you’re thinking of mailing off some jewelry to someone, you need to be sure you do your research first. Find out when you will receive your money, and never send your package without insuring it first.

With these gold investment tips in mind, all you have to do is put them to use. Use these tips and set yourself some goals. Yes, gold is a great investment that can help you plan ahead for the future.