When buying gold, it is best to buy in larger weights. The more the gold weighs, the less you will pay per ounce. Take your time when buying gold to be sure to shop around for the best price for the weight that you are intending to buy to be sure you are investing wisely.
Arrange for delivery of your gold at the time of purchase. If the seller does not provide immediate delivery, you must get some kind of writing from them confirming when you can expect to get your pieces. The date of arrival should be something you can see listed. Proceed with an order only if this information is forthcoming.
When entering the gold market you will want to have an idea on how the precious metals prices are determined. The prices of metals like platinum, gold and silver can fluctuate greatly in just one day. Before you do any buying or selling, check the market prices beforehand. 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.
Find out if you have a piece made by a well-known designer. Sometimes, the origin of the piece and the designer of the piece makes a gold piece worth more, rather than having it melted down. Tell the buyer if you have a piece done by someone noteworthy, to get a better price.
Never overlook gold scraps. If you happen to have small pieces of gold sitting around, keep them together to sell at a future time. This can be scraps from an old pair of earrings or any other piece of jewelry. Even a few ounces can be some serious cash back in your pocket.
Before you mail off your gold, make sure that you understand the polices, fees and terms of the company you are dealing with. Find out when you will receive your money, and never send your package without insuring it first. To avoid problems later on, photograph each item you are sending.
Arrange for delivery of your gold at the time of purchase. When the seller doesn’t ship immediately, you must get their promise to ship in writing. This should include the date the gold will arrive to you buy. Don’t order anything without this document.
Though it is much more cheaper, try to avoid gold plated jewelry. When worn frequently, these pieces of jewelry tend to rub against the skin, causing it to wear down and turn colors. If you do insist on wearing this kind of jewelry, do not do so on an everyday basis.
Before taking your gold to sell, research the buyer. Most reputable dealers will be members of the American Numismatic Association. These dealers are held to a higher standard of ethics and must follow certain criteria when purchasing gold from individuals. To ensure you get the most money for your gold, make sure to use a dealer who is part of this association.
Try to determine the best type of gold for you to buy. Generally, the best types of gold to get are gold coins, bullion bars, or GoldMoney. Determining the type you want can help you see the amount of money you can set aside for buying and help you figure out why you’re buying it to begin with.
Know the current price per ounce of gold before selling your pieces. That way you will be able to ascertain if a dealer is providing you with a fair price or not for your pieces. Most dealers should sell according to the market, but sometimes they’ll try to scam you if they think you just want quick cash.
There is a reason why selling and purchasing gold is common. The opportunity of a great return remains, while the value continues to rise. Just keep in mind that it is important to consider important buying and selling tips if you’re going to be entering the gold market. This article has the advice you need, but only if you put it to use.