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Curious About Trading With Gold? Try This Expert Advice First, you must gain a solid understanding about investing in gold. Continue perusing the information in this piece to understand how gold can work for you. Get an estimate from several buyers before selling your gold. A lot of services and jewelry stores are out there, and they will usually vary in how much they profit. By shopping around, you will get a better idea of what the gold you are selling is really worth. Know the current price per ounce of gold before selling your pieces. Gold dealers cannot scam you out of money when you are informed about the value of your items. While dealers often give you market value, some are used to sellers wanting quick cash. Find out what the terms are before mailing off your old, broken jewelry. Be sure you find out when you will receive payment, and buy insurance for your package, too. Lastly, take pictures of all items you're sending so you have proof in the event of a dispute. If you plan to invest in gold for retirement, be sure you purchase the right kind. You want to ensure that it is IRS approved. This means it needs to be in the form of coins or bullion that is marked 24 karats. Since gold bars are worth more than coins, it is best to buy them instead. Do a little comparison shopping before you sell jewelry or other gold items, even if you're looking for a quick cash-for-gold deal. All stores won't pay market price for your gold, since they are all in business to make a profit. 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 sure to consult the spot price on the day when you plan to purchase gold. You can find this on a variety of websites, and it can change daily. Paying for gold that is any higher than an 8% markup is not a wise investment. Paying that price would simply be unfair to you. While gold buying can be fun, don't tell everyone about it. You may not know who is overhearing you, or who is trustworthy. Play your cards close to your chest and keep your gold in a home safe or a safety deposit box at your bank. This is the best way to protect yourself and your gold investment. When at a gold party, talk with the rep about how they make the determination on the karats of the jewelry being sold. Often, the item will be stamped. But other times, there isn't any mark of visual cue, so the reps have other alternatives for determining it. Dealers using an acid test may be newcomers, as this is a very basic test. Be certain to review the sales contract carefully. If you sell gold through a mail-in purchaser, make sure you understand the terms of the deal. This way, it will be clear how much you are


paying in fees. Know what you have. Not everything is worth what you think it's worth. To discover a lot more, halt by Use These Ideas And Maximize Your Proficiency In Gold, How To Support Yourself By Investing In Gold, The New Gold Rush: What You Should Know

Curious About Trading With Gold? Try This Expert Advice  

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