Tag Archives: scrap gold

Gold Information You Probably Did Not Know About

The market that gold commands has seen a huge spike in popularity because of the worldwide recession. Are you lacking the education you need to consider gold investing? If you want to get into this game, read the following tips.

Comparison shop when it comes to selecting a buyer. You can read reviews online, check with the Better Business Bureau and discover how each dealer resolves customer complaints. Shop around to get the best price for your gold.

Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. When dealing with a vendor, it pays to seek written confirmation of the expected delivery date. This is crucial if they do not offer the option to deliver immediately. Your expected receive date should be listed. Don’t proceed with the order until you have this information.

Anything gold is able to be sold. Decorations, flatware, broken jewelry, anything you have with real gold content is potentially valuable. It need not be completely pure, either. Items that are gold plated or filled are also valuable. You can still turn a profit on these pieces.

If you’re going to sell scrap gold for cash, be sure you’re looking into everything. Many stores will charge a higher rate than the posted spot rate for gold. Try to focus on stores that are not located in a mall, as their overhead may not be as high, which means they might have the ability to give you a better return on your gold.

Be aware that it is possible to sell anything with a gold content to gold dealers. From broken jewelry to gold fillings, it can all be sold. An item need not be made purely of gold. Even gold plated items will have some value. You’ll still get a decent return on your sale.

Check out a number of gold buyers before making a deal. The chances are good that you will get completely different offers for your gold. Shaking hands with a buyer who brings you the first offer may actually shortchange you. Spend a bit of time on the front end so you get the most profit out of the transaction.

You can easily test whether a gold piece of jewelry is real by using a simple magnet. Gold, unlike other metals, will not be attracted to a magnet. Check the chain as well as the clasp for an accurate reading. Using this technique will help ensure your pieces are solid gold.

Be sure to consult the spot price on the day when you plan to purchase gold. The spot price is readily found on the Internet. When you do buy, avoid more than an 8% markup. Anything more is unethical.

Talk to someone at any gold party to determine how they decide a piece’s karats. Often, the item will be stamped. If there is no stamp, there are different ways to test the gold to ensure it is solid. An acid test can be a very simple way of doing this, so be aware of that.

Before you sell your jewelry for scrap gold, have them appraised. This is an absolute must-do if you are selling unique, handcrafted pieces of jewelry. The appraisal isn’t free, but it can boost your selling price. A credible appraiser can probably connect you with someone who is likely to be highly interested in what you have to offer.

If you’re at a gold party you should speak with the person in charge so you can figure out what karats are in the jewelry. Many times, the items are stamped. However, you may see no sign at all but there are ways to determine its value. Using an acid test can be a great way to determine the karat of the gold.

Many times earring posts are made of solid gold, even when the actual earring is not solid. Ring bands and the clasps of necklaces usually are, too. Since such items weigh relatively little, you might want to sell them as their own “lot.” The more you have, the more they will weigh.

Sort your gold by karats into groups if your are planning on selling it. Gold values vary based on karat weight, so lumping different weights together will result in a reduction in the price received. When the karat value is higher, more money goes in your pocket.

Always do your own research into the gold market before you make any investments. Some people will claim to be experts in the field. However, you have to be careful about get rich promises. Don’t think of it like a get-rich-quick scheme to avoid false expectations.

Gold prices have grown 400 percent in the previous 10 years, which is terrific for those who own this commodity. Investing in gold depends on how good the dollar is doing. When the dollar loses value, the value of gold increases.

Research anyone who is buying gold from you. This is very important, especially if you’re mailing it to someone that doesn’t live in your state. Companies that buy gold ought to be listed with your local BBB, where you are able to find out if complaints are filed against a company.

Make sure you read fine print in any sales contract to a full understanding. If you choose to sell your gold through one of the many mail-in gold purchasers, carefully read the fine print before selling your gold. This helps you understand what you will have to pay in fees and commissions.

When you’re selling jewelry for the raw bullion value of the gold in your pieces, make sure to ask about getting back any small gems included in your jewelry. But, it could be hard to take them out of the gems are tiny. Someone trading in gold is most likely not going to want a tiny gem, since the value is not there after it’s melted down.

Timing cannot be used with gold investments. It’s better off as insuring your wealth. If you insist on timing it, do when things are calm. Rough economic times usually have gold shortages.

You should always contact the BBB prior to selling your gold. They are sure to have information about each business, as well as data on any complaints filed. Pay special attention to any complaints and if they were resolved or not. If they have many complaints or lots of unresolved complaints, consider another buyer.

There is no doubt that gold investing is more popular than ever, perhaps as a result of financial instability that has swept the globe. Knowing all you can about purchasing and selling gold is the easiest way to get the most from gold markets. The information in this article should be sufficient to get you started.