Gold has a long history of being a prized metal. Since it was discovered a long time ago, gold has be something man has greatly sought after. Want to invest in the gold market? The tips below will help.
Do not dabble in the gold market until you are familiar with pricing of precious metals. Precious metal prices vary from day to day and it’s best to check the price before selling or buying gold. Also be ready to pay increasingly higher percentages above melt values for any gold pieces that are fractional. These include 1/10, 1/2 and 1/4 ounce pieces.
If you decide to go with a mail in service to sell your gold, make sure to have your items insured. If the items do not arrive at the buyer’s location, you could lose out on the entire value of your gold. By insuring the items, you are protecting yourself against loss or theft.
Look into selling gold on the Internet. Gold deals no longer have to take place at a “real” store. There are quite a few websites out there that will buy it. The site will send you a special kit in which you’ll return the gold items. If the transaction goes smoothly, they’ll give you a quote and you can either accept or decline the offer.
Separate jewelry by their karat values before getting an offer. A lot of times, gold buyers will try to give you a price for the lowest karat and lump everything together. Think of that and make a point of separating your pieces according to karat, so you’ll get a better price.
Take precautions if you mail your items. There are a lot of mail-in services these days, and while they can be convenient, you need to protect yourself. Send the pieces through insured mail, take photographs and know the company’s policies in case they lose your gold pieces and you want a settlement.
Sort your jewelry before heading in to sell it, putting all the 10 karat pieces together, all the 14 karat pieces together and so on. This will help ensure that your jewelry is weighed separately. There are dealers that will simply throw everything in together and only pay you as if it is all 10 karats.
If you plan to mail your gold jewelry to a firm, do some research on them and their policies before you do so. The last thing that you want to do is lose money because of a flawed shipment. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.
Just like you would do a price comparison on a vehicle you are interested in purchasing, make sure you go to more than one place to inquire about the value of your gold. Different shops and dealers are going to quote you different prices. Get the most money possible for your jewelry.
Now you know about gold’s value and why so many people throughout the world treasure it. Gold is not only beautiful, it also is a sound financial investment. Follow the tips presented here to amass your own gold collection.