HomeGoldThe Golden Dream: Making...

The Golden Dream: Making Money With Gold

For most people today the are looking for alternative ways to invest their money and many are turning to the area of gold. If you have been thinking about placing money into this market but don’t know where to start, the tips in the article below will point you in the right direction. Read on for solid advice.

Know the meaning of different karat weights when buying or selling gold. Twenty four karat gold is worth more than fourteen, which is worth more than ten. If you understand the differences, you can make sure that you buy or sell for a fair price based on the true value of the piece.

If you need money in a pinch, sell your gold to a pawn shop. You won’t get the best rates from a pawn shop, but it’s highly unlikely they’ll look the other way with any gold you bring into them. If speed is of an essence, it’s probably your best bet.

Now is the best time to sell because gold prices have been at near record highs. You can sell your broken or unwanted gold jewelry, gold-plated dinner wear, gold coins and even dental gold. Gold buyers are anxious to buy anything that contains gold. Get several bids to ensure that you are getting the best price.

If you are going to a store to sell your gold, make sure you research the shop on the Better Business Bureau’s website. You will be able to see what type of experience other consumers had, and you can determine whether or not the company was responsive to customer complaints.

If you’ve been thinking about selling your gold to a mail-in company, take the time to read over their fine print before getting involved with them. You should find out how long the process takes, and get package tracking and insurance on your package, too. Lastly, take a photo of all that you placed in the package in case there’s an issue later.

If you’re interested in buying gold from a dealer, make sure he is reputable. Avoid doing business with anyone who doesn’t have at least 10 years of experience in the business, because that’s one of the most important prerequisites to have. Someone who has been around for a decade is likely to be trustworthy and knowledgeable enough to make you money.

Use a magnet to quickly determine whether an item is really made of gold or another precious metal. Gold, unlike other metals, will not be attracted to a magnet. In some cases, only an item’s clasp is solid gold, while the remainder is merely plated. Using a magnet is an excellent way to find this out.

Have your gold weighed out in the open, in front of you. If a dealer wants to take your piece to the back of the store, beware. Some less than ethical dealers will use a bait and switch, or they will tell you the pieces weigh less than they actually do. This means less money in your pocket, and it amounts to an unfair deal.

Many people find purchasing gold stocks is a wise investment for their portfolio. When stock of companies lose value, the value of gold stocks rise so this provides some protection for their long term investments. Many investment counselors are now recommending inclusion of precious metal stocks in long term retirement accounts.

Try to avoid buying gold coins from small shops that claim to be reputable dealers. You want to make sure that the people you deal with are really knowledgeable about the business, so it would be in your best interest to look for a gold dealer that has a much larger inventory.

Read the terms and conditions of any gold mail-in service. These operations tend to have a lot of fine print, some of which can really work against you if there are any issues down the line. Before choosing this route, read everything you can so that you avoid as many potential pitfalls as possible.

When buying gold coins, the best deals can be found by sticking to one ounce amounts. The common and popular American Eagle gold coin comes in one-tenth, one-quarter, one-half and full ounce weights. Buying the coins issued in fractional denominations can carry a premium over the gold’s actual spot price.

If you can, buy American gold coins minted before 1933. Before 1933, gold coins were circulated just like any other coinage, but then President Roosevelt recalled them. But, lots of folks held onto their coins, which still hold significant value.

So you just read a great article on getting started in the gold market. Does this give you confidence to join the many other people who have been looking for added ways to invest their money? If you feel good about this market, take the tips you learned today and use it to wisely invest your money in gold.

- A word from our sponsors -

spot_img

Most Popular

More from Author

Investing In Real Estate: What Every Investor Should Know

One of the best ways to earn money is through investments....

Tips For Landing That Job You Want

If you have been searching for employment, you have come to...

Your One-stop Guide For Everything Gold Related

Gold trading has sparked the interest of a great deal of...

What Every Real Estate Investor Should Know

Are you someone that thinks investing is for people that are...

- A word from our sponsors -

spot_img

Read Now

Investing In Real Estate: What Every Investor Should Know

One of the best ways to earn money is through investments. By putting your money away so it can earn more money for you, you are doing something great for your future. Follow these simple tips and tricks about investing to ensure a comfortable retirement for you...

Tips For Landing That Job You Want

If you have been searching for employment, you have come to the right place. You may believe that you just cannot find a job, but if you change your mindset and use practical advice, you can. Read here for excellent advice that will help you locate the...

Your One-stop Guide For Everything Gold Related

Gold trading has sparked the interest of a great deal of potential investors of late, largely because of the difficult economic times many have faced. But not many people are savvy enough to make smart trading decisions. Continue perusing the information in this piece to understand how...

What Every Real Estate Investor Should Know

Are you someone that thinks investing is for people that are wealthy? You would be mistaken to think so. There are people from every walk of life that use investments to increase their savings. This article has tips that will help you out with investing.Try not to...

The Tips Most People Should Know About Investing

Figuring out the world of investing can seem quite complicated at times. After all, a monkey once made better investment decisions than a Wall Street broker. However, there are many different ways to approach investing, and having the proper knowledge is vital to your success. The following...

How To Keep Your Shirt In The Stock Market

Investing can sometimes seem like a tough thing to do. A lot of people want to see their money grow, but they aren't sure where to start. The stock market is a good place to invest your money, so if you want to learn more about how...

Are You Looking For A Job? Check Out These Tips!

Most people find various reasons to complain about their work, supervisors and co-workers until they find themselves unemployed. After this, they see how fortunate they were to be employed. If you don't currently have a job, you need to do something about it quickly. Apply the advice...

Keep This Advice In Mind When Searching For A Job

Have you been trying to find a job but have had little success? You can be a very qualified individual, but if you don't have a strong resume, your chances of getting a job will be slim. You can make your resume stronger by using the advice...

On The Market For Gold? What Needs To Be Known First

Gold has always been a prized possession. There are few things that have been treasured as much as gold. Gold is universally recognized as a valuable commodity and it often given as a token of affection. If you are looking to buy gold, here are some tips...

Ideas And Tips For Investing In The Stock Market

The stock market can be a great way to ease yourself into the world of investments. Many stocks can be bought cheaply and therefore, can be used to help you learn investing without risking everything. Take the time to learn how to invest in the stock market...

Get Top Tips On Gold Buying And Selling Right Here

Getting involved in the gold marketplace is something many people are getting involved in today. With the uncertainty of the economy, one area of the market that has performed well over the past decade is gold. If you would like to learn about how to get involved...

Employment Advice That Everyone Needs To Read

Being unemployed is depressing whether you are fresh out of college or a seasoned worker. Especially in this economy, you need all the help you can get finding a job. The following article is full of useful tips that can help you finally land a job and...