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The Golden Dream: Making Money With Gold

Everyone loves gold; however, many do not know how precious this commodity truly is. Not being knowledgeable about it makes it difficult to get all of its advantages. If you are not that knowledgeable about it, the following tips should help you navigate the world of buying and selling gold.

Understand the spot price of gold before selling any. Pieces with differing karat values are worth different amounts, and should be weighed separately for selling. Don’t sell jewelry that’s worth more than its melt value because of its designer origins.

Think about selling gold on the web. You don’t need a storefront to buy and sell gold. There are plenty of websites out there you can use to sell all your gold. The website will send special kits where you are to return your gold items. If all is in working order, they’ll then pay you at their going rate.

Go with a legit buyer if you’re selling gold. You are able to find out more about their reputations with the local BBB and through online reviews. A good buyer is going to give you a good price, and will provide you with superior customer service too. Protect your gold investment by doing this.

Find out what the terms are before mailing off your old, broken jewelry. Insure your shipment, and get a solid confirmation of when you can expect to be paid. Also you need to be sure to photograph everything you’ve put in your package in case they start a dispute.

If you wish to enter the gold market but don’t have tons of capital, try buying scrap. Do this regularly over a certain length of time, and in 12 months or so, you would have accumulated a good amount. Make sure you keep the gold secured. A safety deposit box is a good place.

You can sell anything that contains gold to gold dealers. That could be broken pieces of jewelry, tableware, home decor, or anything else you have around. It is not really necessary for these items to be solid gold. It could be gold plated or a bit of gold and still be sold. You can still find a nice return on the sale of it.

Always make delivery arrangements before purchasing gold from a vendor. Delivery times are important. If delivery isn’t immediate, then you need written confirmation from the seller about your pieces. The date on which you can expect to receive the items should be provided. Do not finalize your order until you receive written confirmation.

Sell to licensed buyers only. Although anyone could rip you off, the chances are slim when working with someone who is licensed. Lots of shops or individual operators are willing to purchase gold, so you should never feel you need to go with the first offer you get.

Fine Print

Go over the fine print of the contract offered by your buyer. If you are going to sell gold pieces to a mail-in buyer, look at the fine print prior to selling to them. This helps you keep better track of how much you have to pay for fees.

If you’re sending your gold to some company via the mail, check them out before doing business with them. Be sure you find out when you will receive payment, and buy insurance for your package, too. Be sure you capture photos of everything you put in the mail.

Be sure to have your jewelry appraised before you decide to sell it. This is true for pieces made with fine craftsmanship. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. Appraisers might be aware of someone that wants to purchase your jewelry.

While many people like gold, few of them know anything about it. But, since you took your time to go over this article, you should have a better idea of what it’s all about. Apply this knowledge and make smart decisions regarding gold.

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