Read This Article For The Best Gold Information
Posted: Mar 29, 2014
Many people turn to precious metals for a dependable investment while the dollar continues to decline. Gold tends to be the most popular since it's value keeps increasing while the dollar's value is decreasing. Follow the tips presented here as you consider the advantages of investing in gold.
Always do your homework to find an honest and reputable gold buyer. You can see how various dealers handle customer complaints by viewing online reviews and contacting the BBB (Better Business Bureau). When you get bids from multiple buyers, you may be able to get top value for the gold.
Gold is high in price, and this deters some. You might choose gold-plated or gold-filled pieces instead of ones that are full gold. You can acquire gold jewelry from a number of sources at a reasonable price. It is cheaper online and at pawn shops.
Buy the right gold if you are investing for retirement. The gold must be approved by the IRS. This means it needs to be in the form of coins or bullion that is marked 24 karats. Since gold bars are worth more than coins, it is best to buy them instead.
If you do not have a large amount of money to start off with, why not consider purchasing scrap gold. You can do this over a period of time, say around each pay day, and accumulate a considerable amount of valuable gold within a year or so. Store your scrap gold in a secure location until you are ready to sell it.
If you're unaware of your gold's worth, have it appraised. Though you will have to pay a bit, knowing its value is crucial. Use an accredited appraiser for best results. If you do want to sell the gold, understand you won't be offered full value it was appraised for.
Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. Many stores do not pay the going rate for gold. Kiosks in malls and other high-traffic areas pay more in rent and operations, thus, reducing the amount of money they are able to offer for your gold.
Check gold prices on the day your are buying or selling gold. The spot price is readily found on the Internet. When you actually make your purchase, refuse to pay more than 8 percent more than this price. A few dealers attempt to charge you more than this, but this means they are trying to rip you off.
When considering mailing your gold away for sale, be certain you know how much return mail will cost should you change your mind. Many companies offer free shipping but charge more for mailing items back. Make sure you know in advance what you might have to pay to get your jewelry back.
If you want to start investing in gold, then you need to know that there are many good strategies. A lot of people like coins or bullion, and other people love buying stocks in precious metals. The article above is full of resourceful information you can use to start off right in gold investing.
Ron is an affiliate of Regal Assets and has been an internet marketer for the past several years - www.goldira-rollover.net