What You Need To Know To Cash In On Your Gold

Gold has a highly prized metal. Gold was discovered centuries ago and has been treasured for thousands of years. If you want to purchase gold jewelry or bullion, the following tips will get you off to the right start.

Before you buy gold from a dealer, be sure you know exactly when it will be delivered to you. If your seller can’t commit to immediate delivery, get something in writing which confirms delivery of your pieces. The expected delivery date on which you can expect to receive the items should not be a mystery; it should be clearly stated. Don’t order without this document.

If you’re selling gold through a mail-in service, make sure to do your research first. Find out when you can expect your payment, and get insurance for your package.

This can be done over time, and you can see how this can make a valuable investment. Keep your collection safe until you have enough of it to cash in.

Anything that contains gold can be sold to a good dealer. It may consist of decorative items, gold table ware, home decor items or anything that is in the house. It also doesn’t have to be 100% gold either. It just be plated or maybe only a part of it’s gold. You can still get a favorable return.

Many times you will see the item have a karat rating. Sometimes, however, you won’t be able to see any kind of a stamp, so many representatives have other methods of figuring it out. Acid tests are simple ways to do this, so if the rep does this, they might be new.

Research how the market is doing before investing. There are predators out there in the gold market that they know what they’re talking about just so you’re likely to invest with them.

Many times the backs of earrings are solid gold, even when the actual earring is not solid. Necklace clasps and ring bands often are as well. You can often sell these small pieces together. Selling lightweight gold in quantity increases your chances of selling them.

Never sell gold simply for the sake of doing so. Gold tends to raise in price and while the price is very high now, so don’t sell it unless you really need the money. You may benefit in the future by keeping your gold for even more later if you hold onto it now.

This is key if you are using mail-in company that is from another state.

A way to get a good price on gold inexpensively is to ask your relatives to see if they have broken jewelry. If you can buy it from them at below melt value, you can offer friends and family a higher price than what they would receive at a pawnshop.

Find out what your seller’s buyback policy.Some gold buyers will charge you a premium to resell your gold while others do not. Consider the item by mail or coins to a dealer outside your geographical location. It is best to hold on to the gold as soon as you purchase yourself to ensure its safety.

Gold Coins

A great way to invest in gold is to buy American gold coins minted before 1933. Gold coins were prevalent until that year when President Roosevelt put a stop to their circulation. Many people kept them and they are available to buy.

You won’t get full value of your gold. Gold dealers work like any other businesses. You should expect between 50% to 75% of the total value.

Jewelry with higher karat rating is worth more. Make sure to separate the items before you carefully inspect each piece and put it with similar items.

Always take pictures of any gold pieces you want to sell before letting the buyer look at the pieces. Also ask about guarantees that your pieces go missing. Get that in writing to protect you.

If you will be selling your gold to a buyer through the mail, ask the company about a reimbursement policy if they lost your items by mistake. Many companies limit liability that’s assigned to their business for lost items.

You should now have a better idea of why gold has always been so highly prized. Not only is gold a beautiful metal to wear, but it’s a good investment. Use these tips to invest in a gold collection today.