If you are purchasing gold jewelry and have allergies to nickel or other metals, only purchase 18 or 22 karat gold. Almost all gold jewelry has some other metals in it because pure gold is very soft and not easy to wear on a day to day basis. By buying 18 or 22 karat, you are ensuring you’re getting the most gold, meaning less change for an allergic reaction. Would you like to know more about investing in gold? Gold is one of those investments that can help you battle rough economic times and can stabilize an aggressive portfolio. Continue reading so that you can gain some valuable information that can help you be on your way to investing with gold. Unless you have true expertise, avoid investing your money in rare gold coins. The novice buyer won’t be able to appreciate the many distinctions in grade between coins and can be easily cheated. If you do go this route then you really should hire a professional coin grader to protect your interests. Be sure to insist on a certificate of authenticity for any purchases you make. It is important to understand the type of scale your gold dealer uses. Some dealers use a Troy scale while others use a pennyweight. On a Troy scale, gold weighs 31.1 grams per ounce. A pennyweight equals 1.555 grams. In comparison, a US scale measures each ounce of gold at 28 grams. Be wary when buying gold from online precious metal dealers. There is a lot of fake gold for sale on the internet, so it pays be cautious when buying investment precious metals online. Many fake gold bullion bars are almost indistinguishable from real gold bullion bars, as many fake gold bars are coated with real gold despite the fact that their insides are fake. When preparing to sell gold, separate it based on karats. The value of the gold differs by the karat value of each and if all your gold is weighed together, you will not receive the best cash value. Gold with a higher karat value is worth more.
Now that you know so much about gold, you are ready to master the topic. Continue reading all you can so that you can continue to learn about gold. Soon enough, you will have great confidence when discussing anything involving this precious metal, and ownership will become even more enjoyable. When deciphering the actual sales price of gold, you should understand the fees associated with selling gold. Dealers generally charge a commission of five to six percent for each ounce of gold sold. For example, if you are selling $100.00 worth of gold, the dealer will take $5.00 out of the proceeds for commission fees.
Learn how to verify the quality of gold pieces. The term, karat, is used to refer to the purity of gold. Gold’s value by weight increases with its purity, and purer gold receives a higher karat rating. You cannot just go by the karat stamp. You will not inadvertently purchase bad quality if you know how to do gold purity tests.
When going to sell your gold, bring along identification. If you come to an agreement on the sale of the pieces, you will be required to give the buyers a copy of your government issued id. This is a law meant to protect individuals against buying pieces that are stolen, and any reputable dealer will stand by this law.
Do not buy gold coins that are for sale at the pawn shops in your area. Chances are you will pay a lot more for them here than you would anywhere else. It is best to look for a reputable gold dealer to do business with, so you know you are getting the best deal.
Everyone is searching today for safe places to store their money, and one of those areas is the gold market. If you have thought about becoming an investor in gold but really aren’t sure where to start, the tips presented below can be valuable in helping you begin this journey. Read on and get solid advice on gold. As you are aware, gold is a constant within the current financial systems of the world. What that means is that you need to understand how the price of gold changes and how to leverage the gold market to meet your particular needs. Put this information to good use when you are considering gold investments.
Do not sell your gold at a gold party. Although these parties are fun, sellers usually net less than 80 percent of the value of their gold at these parties. To get the most bang for your buck, find a reputable dealer that specializes in buying and selling gold.
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.
Make a commitment to yourself to get educated on gold. Know going in: only you are on your side. The buyers, no matter how reputable, want to get the best deal for themselves as possible. If you can’t speak the language, there’s a very good chance that you’ll lose in any sort of negotiation.
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