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Gold Advice You Need To Know About

Looking at gold as a way to obtain value isn’t a new concept, but its importance today is due to the downward economy. Learn more about making gold work for you by perusing these tips. Read on for some priceless advice.

When you sell gold, you should obtain a type of estimated value from multiple sources. Several gold-buying services and jewelry stores get different profits for the gold they buy. By getting multiple estimates, you can be assured that you will get a fair price when you sell.

Save your money to buy higher quality gold and avoid gold-filled and gold-plated pieces. You do not have to pay full price for gold jewelry if you find that the prices offered by jewelry stores are too expensive. Online auctions, estate sales and pawn shops are only some of your options.

Gold prices change all of the time, so make sure you are aware of the value before you try to sell any. If you choose to sell gold, weigh and value pieces that have different karat values separately. Don’t sell jewelry with a designer name that has a higher worth than straight melt value.

If you’re clueless about the value of your gold jewelry, have it appraised. Even though it is an extra expense, it can be well worth the investment. In order to have it valued most accurately, go with an appraiser who is accredited and independent. Remember, though, that you won’t get the appraiser’s price for your gold.

Understand that any item containing gold carries value with gold dealers. From broken jewelry to gold fillings, it can all be sold. In fact, a gold piece doesn’t have to be 100-percent gold to be worth something. It may simply be gold plated or part of the item has gold within it. They won’t be worth as much but you can still get money for them.

Return Postage

Research any mail-in gold jewelry purchaser before sending your jewelry off to them. Find out when you will receive your money, and never send your package without insuring it first. Take pictures of anything you send so that you can settle any disputes that may occur later.

If you plan to mail your jewelry, be sure that you find out how much the return postage will cost if the price offered you is too low. Most companies will give you free shipping to them but charge you an arm and a leg for return postage. Know what this cost is before you mail your items.

Your buyers should always have gold-buying licenses from the state. Licensed buyers are generally more reputable than unlicensed buyers. Never sell without doing research and verifying the dealer is licensed.

Figure out what you’re really in possession of. Not all pieces that appear to be gold are worth their weight in gold. A lot of the time there will be something mixed with the gold so it holds up better. This may lower the price. This is the case with gold plated items. Have an appraisal done on large amounts of jewelry or gold whose value you are uncertain about before selling it.

Know that anything that has gold in it is sellable to a gold dealer. You could, for instance, sell some broken jewelry, some tableware, gold coins or many other objects. It doesn’t have to be all gold either. It could just have a tiny amount of gold or be gold plated. Any amount of gold will get you back a nice amount of money.

A cheap and quick way to test gold is to use a magnet. It is true that precious metals are not attracted to magnets. Sometimes the clasp of a piece is solid, however the rest will be plated. A magnet is a good tool for discovering fake gold.

If you want to sell your gold, you should divide it in different lots in function of the karat weight. If the vendor weighs all of your items together, you will not get a fair price for your higher karat items. This is a scam that will cost you money. Have your pieces split up by karats in advance so that you can maximize the return you get out of the sale.

Gold has always been an excellent investment and a good way to insure wealth. When the economy is bad, gold is more valuable. Hopefully, the advice here will show you the best way to use gold to build your wealth.

If you think you’re going to mail off your jewelry, you should see what it’s going to cost to have things mailed back if you don’t like their offer. Companies often provide free shipping, but it can be costly to get them back to you in the mail. Know what you’re up against before you mail anything away.

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