The value of gold has been high since the dawn of time. Everyone loves gold even though they all don’t know how to acquire it. If you are interested in buying gold, keep reading to learn more about investing in gold.
When you sell gold, make sure to get multiple appraisals. Gold buyers and jewelry stores are out to make a profit, so they’ll all pay less than the actual value of the gold you’re selling. Therefore, it is wise to get several offers to ensure the best price.
If you feel that gold is too expensive, you may be tempted to purchase gold-plated as an alternative. Before settling for a gold plated piece, understand that there are great deals out there on solid gold jewelry. There is cheaper gold jewelry at pawn shops or online.
Before you mail off your gold, make sure that you understand the polices, fees and terms of the company you are dealing with. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured. Lastly, take pictures of all items you’re sending so you have proof in the event of a dispute.
If you buy gold for your retirement fund, be sure it’s the proper kind. Your gold has to be IRS approved. That means that the gold is a minimum of 24 karats, and formed as coins or bullion bars. Buy bars instead of coins to increase your profits.
If you don’t have lots of money to buy gold, but still want to profit on the upside, think about buying scrap gold. This can be done bit by bit. For example, you might invest a bit each payday to amass an impressive collection of gold as time passes. Make sure you keep the gold secured. A safety deposit box is a good place.
Check the return policy before you buy anyone a gift of gold. You need a guarantee on any gold you buy. By ensuring that the dealer offers a return policy, you can help protect yourself.
Be sure to consult the spot price on the day when you plan to purchase gold. Many websites update this information daily. As you prepare to make a purchase, it is best to avoid any price with a markup of greater than 8 percent. Some sellers try charging more, but that’s overcharging, which is generally unethical.
As is plain to see, gold is very valuable and can be traded very easily. It’s a good idea to work with gold because after time it’s something that won’t go down in price. With this knowledge behind you, you can start collecting gold right away.