Tips To Help You Make Money With Gold

Good information will help anyone get a good start in gold trading. Maybe you are a person who wants to get in the action? If you are, keep reading to find out what you can do about it.

Get an estimate from several buyers before selling your gold. A lot of services and jewelry stores are out there, and they will usually vary in how much they profit. Getting multiple estimates gives you a better idea of the prevailing market price, which prevents you from getting ripped off.

TIP! Compare different gold buyers if you want to sell some gold jewelry or gold scraps. Even though the market “spot” gold price is the national standard, not all stores will pay it.

Only certain kinds of gold are suitable for contributing to your retirement fund. The gold has to be IRS approved. Gold for this purpose must be bullion bars or gold coins of 24 karat weight. Because they hold their value, buy gold bars instead of gold coins.

If you have an interest in getting into the gold markets, but don’t have a lot of investment capital, consider buying scrap. You can do this over a period of time, say around each pay day, and accumulate a considerable amount of valuable gold within a year or so. Store your gold in a secure location until enough to cash in has been amassed.

TIP! Never sell to an unlicensed gold dealer. Though you still may be taken, licensed buyers tend to be more trustworthy.

Only buy gold jewelry from a seller if they have a return policy You need a guarantee on any gold you buy. In those cases, you should return the jewelry for a refund.

Anything that is gold can be sold. Examples of saleable items include broken jewelry, spoons, forks, household goods, etc. Having 100% gold isn’t required, either. It could be plated gold or it could be that just a portion of the item is made of gold. You can still get a good return on the sale.

TIP! Shop around before making any decisions about a gold buyer. You may get a wide variety of offers.

Never neglect the idea of hunting in antique shops or flea markets to find gold. If you you’re aware of what to look for, you can find some great bargains. Many people don’t understand how valuable their items are, so they sell for cheaper than they could at these places. If you do some research, you can benefit greatly.

Know what you actually have in your possession. A lot of the time, gold isn’t really worth what it looks like it’s worth. Sometimes other metals might be mixed into gold to make it stronger. This results in a price reduction. This is the case with gold plated items. If you don’t know what you have, have it appraised before trying to sell it.

TIP! Prior to selling your gold to a buyer, jeweler or dealer, check them out on the BBB. You may find complaints that have been listed by the customers who feel slighted.

Gold is an investment anyone can make, by either buying or selling. If you have been hesitant in the past to get involved, the tips here should have alleviated those fears. All it takes is a little learning and a willingness to take some risk for greater gain. Have fun pulling the trigger on your investments!