Gold makes a great investment, but what do you know about buying and selling gold. While it may sound simple, there are actually many things you should know before you get started. Keep reading so that you can learn more about gold as an investment and how it can strengthen your portfolio.
It is possible to sell gold online. You don’t need to have a physical store location anymore. It is possible to utilize a website to sell gold items. The site sends you a prepaid mailer to put the gold pieces in. If you have everything together, then you will receive the going rate.
Avoid gold coins that are being sold at flea markets and local pawn shops. They may seem like a great deal, but all that glitters is not gold. The coins may be counterfeit and/or they may have been cleaned to make them appear far more valuable than they actually are.
While doing your research about the seller of gold, be wary of reviews on social media sites. Gold sellers have been known to pay people to produce false reviews about their services. Do not count solely on the reviews that you read on those sites and continue your research through other sites.
Always purchase gold jewelry from a jeweler you can trust. You would be surprised at how many jewelers try to sell fake gold or lower-karats at a high-karat price. Ask friends or family members if they know of a good jeweler. Or, you can go online and look at reviews for jewelers.
If you decide to invest in gold, find out which type of gold is the best investment for you. Most investors buy gold bullion bars or gold coins. This type of gold requires a sizable investment. Gold bars are available in a wide variety of sizes from half an ounce to 400 ounces.
If you’re going to sell your gold to an organization, make sure you look up their BBB rating first. They have rudimentary information about listed businesses, as well as reviews from clients who have traded with them. Look closely at complaints to find out whether or not they were satisfactorily resolved. If you see that there are a lot of unresolved complaints, you may want to go with someone else.
You don’t have to own gold to invest in it. Mutual funds and ETF’s, as well as gold mining stocks, are avenues of gold investing. You should always consider the costs to store gold.
Do not purchase gold jewelry with the idea that it is an good investment. Because the gold in jewelry is not pure, it is unlikely it will ever be worth its purchase price. A much safer choice for investing in gold is to purchase gold coins, bullion or gold stocks.
Now that you are more familiar with the different strategies for buying and selling gold, you can dive into the market. Gold is a wonderful recession-proof investment, and you want it to work for you. Remember all the tips you’ve read so that you can come out on top in the market.