Make Revenue In Gold With These Suggestions.... Info Number 22 From 122
Be aware of any fees that are attached to the transaction of buying gold. Online purchases come with several types of fees. You may suffer from a markup of as much as ten percent from the dealer. Read all of the fine print to learn about any and all fees that are related to the purchase
If you're selling gold jewelry, make sure you know about karats. Pure gold is very soft, so it's mixed with other metals for color and durability. The FTC or Federal Trade Commission requires that all sold U.S. gold jewelry must describe the alloy's karat fineness. A single karat equals 1/24 of pure gold via weight. For instance, 14 karats jewelry is 14 parts gold and 10 parts different metals. Jewelry can't be sold as "gold jewelry" if it's less than 10 karats.
When mailing your gold away for sale, make sure to read all the fine print before sending it in. Some buyers have less than stellar reputations, and you will not see this until you read the fine print. Make sure you are comfortable with all the terms you are agreeing to, or look to another location to sell your gold.
It is necessary to find a reputable dealer you can trust if you wish to purchase gold coins or bullion. Caution is required to avoid purchasing low quality gold from a scam artist. It can be extremely difficult to sell this gold at a later date and you will probably lose money.
Given the volatility of the global economy in recent years, buying and selling gold has gained a new degree of popularity. The key to generating real value and profits from gold is to spend sufficient time learning about the commodity and its market. Keep continue reading this to gain valuable pointers that really can help.
A photo id is required with each sale of precious metal. This is because the information is kept on file to assist local police authorities in the investigation of thefts and robberies. A reputable dealer will require identification when selling gold. If the buyer does not require identification, he is not honest, and you should find a different gold dealer.
If you are sending your jewelry off in the mail, make sure you investigate how much it will cost you to have the pieces sent back to you if you don't like the offer. Most companies will give you free shipping to them but charge you an arm and a leg for return postage. Know what you're up against before you mail anything away.
Try to only buy and sell your gold to certain dealers that are recognized through official gold and money associations. These dealers must follow strict guidelines under these organizations to ensure that you get fair compensation or quality pieces. One such well-known organization is the ANA or American Numismatic Association.
All investments come with a certain amount of risk, and gold is no different. To help limit your risk when selling gold, ask for referrals from friends or family members who have sold gold in the past. They may be able to steer you toward a reputable gold buyer.
Understanding how gold is weighed can ensure that you don't get ripped off when selling your gold to a dealer. Gold can be weighed in Troy ounces, pennyweight, or grams. The most important thing is to make sure that whatever system the buyer is using to weigh your gold is the same one they're calculating the payment with.
Do NOT sell your scrap gold or gold jewelery to a company wanting to do so through the mail. These types of operations pay less than pennies on the dollar and you will have no recourse once you receive your measly check from them. Visit a dealer in person, get a real evaluation and try to sell it to them.
Always purchase gold jewelry from a jeweler you can trust. You would be surprised at how many jewelers try to sell fake gold or lower-karats at a high-karat price. Ask friends or family members if they know of a good jeweler. Or, you can go online and look at reviews click here for more jewelers.
If you are considering selling your gold to a pawn shop or second hand store, go with the pawn shop. Pawn shops have certain regulations they must abide by, and this protects you, the consumer. Second hand stores have no such regulations, which opens up the possibility of unethical practices.
When buying gold jewelry online, make sure to get written confirmation of your delivery date before finalizing the deal. Ideally, delivery should take place in a very short period of time. If it will be delayed, find out why and for how long. This protects you as the consumer, and it gives you information that would stand up in court if necessary.
Get an appraisal if you have no idea what value your gold holds. The up front cost is significant, but it can give you a better estimate of value. Only use an independent, accredited appraiser to get the most realistic value. If you continue reading this with your plan to sell, do be aware that you won't receive the price the piece has been appraised at.
Some pieces of gold jewelry have values above and beyond their weight in gold. If you have antique or designer pieces of gold jewelry you're considering selling, take them to an appraiser first before selling them for scrap value. There may be a buyer out there that wants your jewelry for its collectible value, rather than its gold value.