What is it about gold which captivates the hearts and minds of all who view it? It is the rarity and the difficulty with which we procure it which makes it such a valuable commodity. If you would like to tap in to the value of gold, this article will show you how to invest in the gold market.
Before selling your gold to an establishment, make sure that they are a reputable seller. Check with your Better Business Bureau to make sure that they have given fair prices to people. You don’t want to sell your gold to someone who will cheat you out of the precious gold you’re selling.
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.
Avoid gold coins that are being sold at flea markets and local pawn shops. They may seem like a great deal, but all that glitters is not gold. The coins may be counterfeit and/or they may have been cleaned to make them appear far more valuable than they actually are.
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.
A magnet can help you determine if a gold piece is solid. Precious metals, gold included, are not magnetic. Many times you see the clasp gold plated but not the rest of the piece. Using this technique will help ensure your pieces are solid gold.
When attending a gold party, watch the representative carefully. Your natural instincts are often correct. If you feel like the person is being genuine with you, they probably are. If, however, you feel like the individual is holding back a little, you may want to wait and sell your gold to someone else.
Don’t sell your gold just because you feel it would get a good price. Take the time to research gold prices and sell it when the price is at its highest. The longer you can keep your gold, the more valuable it will become.
Buying big lots of jewelry from estate sales can end up being quite profitable. There will probably be a lot of costume jewelry, but you can also come across some great real gold pieces of jewelry. Take your time to inspect each piece and you just might find yourself a treasure.
If you take the time to read an article like this, you are proving that you have what it takes to make a profit on the gold market. The next step is to put these tips to use, turning them into a strategy which is a winner. Continue honing your technique and you will end up a master of the gold market.