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Top Tips To Get The Most Out Of Buying And Selling Gold

More and more people are interested in both selling gold and buying it. This is mainly due to the economy. There aren’t enough gold investors that are knowledgeable enough about the market, though. Keep reading to discover what you need to know about gold.

If you plan to invest in gold for retirement, be sure you purchase the right kind. Gold as an investment must be designated as approved by the Internal Revenue Service. They have to be either 24 karat coins or bullion bars. Bars are often a better deal than the coins.

If you don’t have much money to invest in gold, you could start by purchasing scrap jewelry pieces. Invest small amounts of money in scrap gold. After a few months, you will have accrued a significant store of gold. Make sure you have a safe place to keep your gold (a safe deposit box is ideal) while you’re collecting it.

Get an estimate from several buyers before selling your gold. There are quite a few stores selling jewelry or that buy it, and they sometimes make more money on the gold than you make on it. You can be certain you’re getting the best deal by shopping around.

Only buy gold jewelry from a seller if they have a return policy What if it doesn’t fit? For this reason, it is important to purchase jewelry items that come with a money back guarantee.q

There are places you can send you jewelry to get paid. See how you can get your gold back if you don’t like the offer. The majority of companies pay for you to send the jewelry to them, but they charge high fees to return it to you. Know beforehand how much you would have to send in order to get your pieces back.