Trading gold is not intended for the faint of heart. Anyone who balks at adversity should turn away right now. If you are strong willed, determined, driven and ready to make some real money, this article will teach you how to turn the gold market into a profitable investment avenue today.
Before attending a gold party, separate your jewelry by karat weight. Some buyers will try to weigh all of your pieces together, and then pay you based on the lowest karat weight among them. This amounts to less money in your pocket, meaning you have made an unfair sale.
Go with a legit buyer if you’re selling gold. Check with the BBB and look at reviews online before you sell your gold to a buyer. Do not do business with a buyer who does not treat you as a valued customer or does not offer a fair price. Make sure that you protect both your investment and yourself.
When buying gold through a private sale, always test to make sure that the gold is real. There are many pieces of jewelry that are gold plated. In order to make sure you are buying the real deal, invest in a gold testing kit. They are not expensive and can save you from buying fools gold.
Understand how weighing gold works prior to going into a shop to sell or buy gold. There are lots of unfamiliar terms like troy ounces and penny weights. This can often fool the inexperienced into thinking they are getting a better deal than they really are. Don’t let that be you.
How heavy your gold is will determine how much money you get for each piece. However, some dealers are not very reputable and may try to pay you less than you are owed. Watch out for anyone who weighs your gold by the pennyweight but tries to pay you for grams instead.
Do not allow the high price of gold to deter you from buying quality products. You will not benefit from buying jewelry that is plated or filled with gold. However, don’t feel that to buy gold of real value you need to pay a high price in a fine jewelry store. Pawn shops and online sites have hundreds of gold pieces for sale.
You need to know what you have before you go to sell it. Higher karats equals higher gold density and more value. Buyers who do not have a good reputation may try to take advantage of sellers who don’t know exactly what they have. Twenty-four karat gold is almost pure gold so it is worth way more than fourteen karat gold.
Research any mail-in gold jewelry purchaser before sending your jewelry off to them. You should be clear about when you can expect to be paid. Insuring your gold shipment is a good idea, too. Take a photo of all the items you are sending so there will be no questions later.
When selling your gold, make sure that you separate each piece by its karat value. Some dealers will attempt to weigh all your gold at once then use the lowest karat value to calculate the payment. Keeping your jewelry separated out by karat values ensures that you are paid fairly for each piece.
Today is truly the best day for you to take advantage of this knowledge. It is fresh in your mind, so you can capitalize on it and turn it into gold market success. Set a goal, endeavor to reach it and build upon what you have learned here by continuing to learn all you can.