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What You Probably Did Not Know About Gold

As various forms of currency decrease in value, gold prices continue to go up. Clearly this poses some interesting opportunities to pad your investment earnings. There are several things to consider before buying or selling your gold. You will benefit from buying and selling gold when you put this advice to good use.

Bullion bars are a great choice if you wish to put your money in gold. The weight of these bars vary. Bars may be a half ounce, 400 ounces or anything in between. The smaller bars are more common, while the larger ones are harder to find.

Look online for the most reputable gold buyer you can find. You want to determine how the business treats its customers and whether there are outstanding complaints against it. When you get bids from multiple buyers, you may be able to get top value for the gold.

When selling gold, it is a good idea to get an estimated value from more than one source. There are many places to get this done, and some will pay you more than others. Getting multiple estimates helps you get a fairer price on your gold when selling it.

If you are buying gold jewelry as a gift, make sure you have a money back guarantee. You can’t be sure when jewelry is liked by the other person or if it even fits them. If the gold turns out to be fake, make sure you get your money back.

Spot Price

Be sure to consult the spot price on the day when you plan to purchase gold. This can be seen at numerous websites, but keep in mind it can often change. Never pay in excess of 8% markup above the spot price. Occasionally an unethical dealer may try to overcharge their customers.

Always use a reputable company when selling gold. Check with the BBB and look at reviews online before you sell your gold to a buyer. Good customer service and fair market prices are good indicators of reputable buyers. Protect your invest and look into these companies.

As exhilarating as gold gets, don’t run your mouth about it. Someone around you could be listening in and be untrustworthy. Do not tell others about your investment, and keep it locked up either in a home safe or at a bank. In this way, you can be sure your gold investment is safe.

You can easily test whether a gold piece of jewelry is real by using a simple magnet. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. Check the chain as well as the clasp for an accurate reading. A magnet can help test jewelry quickly.

Gold has been a popular commodity for sale and trade throughout history. That kind of currency keeps rising in value, so the returns are great. But with any type of investing, it’s important to understand the ins and outs before you jump in. Take note of the advice that has been provided here and put it to use when you next buy or sell gold.

Before buying or selling gold, know how all the prices work. The prices for precious metals go up and down from one day to the next. Therefore you must find the price on the exact day before you agree to do business with someone. You may have to pay higher prices, though, for pieces that have a small fractional measurement.

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