If you are looking for a good safe investment, how would the make you feel? You only get to do this if you know enough about gold to deal well in it. This piece can help you get the ball rolling by providing tips and expert advice.
Bullion is the best choice if investing in gold. The weights vary. They range from just under an ounce on up to 400 ounces. Four hundred ounce bars will be hard to locate.
If you feel that gold is too expensive, you may be tempted to purchase gold-plated as an alternative. You do not have to spend lots of money at a jewelry store to buy nice gold jewelry. It is cheaper online and at pawn shops.
If you’re buying gold to save for your retirement, buy the right type. Gold as an investment must be designated as approved by the Internal Revenue Service. Only 24K coins and bullion bars are eligible. Try to buy gold bars more than coins, because they are much more valuable.
When you buy gold jewelry as a gift, be sure to understand the return policy and get a gift receipt. It’s not uncommon for many pieces to not be the receiver’s taste or the wrong size. If that happens, you want to be able to send the jewelry back and get your money back as well.
If you’re not sure about the value of your jewelry, you can have an appraisal done. This requires a bit of an investment, but it is worthwhile. Only use an independent, accredited appraiser to get the most realistic value. If you continue with your plan to sell, do be aware that you won’t receive the price the piece has been appraised at.
Talk to multiple vendors before making a decision about which buyer you’ll go with. You may be shocked to see how different the offers are! If you go with the first buyer that you meet, you may end up with the worst deal possible. Take your time so you can make the greatest return on your gold.
Use a magnet to test inexpensive jewelry to determine if it consists of steel. Gold, unlike other metals, will not be attracted to a magnet. Sometimes only the clasp is solid but the rest is plated. You will find this to be an effective way of testing this.
Before you sell gold jewelry for its scrap value, have it professionally appraised. This is particularly important for unique pieces with detailed craftsmanship. The appraisal isn’t free, but it can boost your selling price. An appraiser may also have connections with jewelry buyers.
Separate your gold into groups based on karat values. You don’t want everything thrown together in one pile, because it will all be weighed as if it is the same karat. This will result in you receiving less money. Instead you should go in with pre-separated piles to make the biggest return.
If you use these tips, you will find that profits come to you as you work towards your goals. Smaller goals will easily be reached as time passes. Avoid rushing around as this will surely cause you to lose money.