Looking To Get Started In Gold Investing? Read This First!

Recently, gold has become very popular due to worldwide financial problems. Are you lacking the education you need to consider gold investing? Eliminate your doubts with the tips below.

gold investment tips with mike dillard Get multiple estimates for your gold pieces if you are looking to sell them. There are quite a few stores selling jewelry or that buy it, and they sometimes make more money on the gold than you make on it. By shopping around, you will get a better idea of what the gold you are selling is really worth.

Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. If this is not possible, make sure you get a written contract outlining when the items will arrive. The date they expect you to get them should be listed. Don't buy without such a contract.

Research several gold buyers and compare them to obtain the best price for your gold. You can read reviews online, check with the Better Business Bureau and discover how each dealer resolves customer complaints. Additionally, get several offers before selling to a gold dealer to ensure you get top dollar.

Get your jewelry appraised. Paying a professional to appraise your item is a good investment. Be sure to select an appraiser who is accredited and independent for a realistic appraisal. When selling gold jewelry, you will receive only a percentage of the appraised value.

If you are looking to gold as a retirement vehicle, be certain you invest in the proper kinds of gold. The gold has to be IRS approved. This means it needs to be in the form of coins or bullion that is marked 24 karats. Bars typically are more valuable than coins are.

Whenever you begin the gold selling process, you need to be educated on the market price. Try to compare what similar sized pieces are selling for. This will provide you with a good starting point on pricing. Always start a little higher that what you are actually hoping to get, so you have room to negotiate.

Use a magnet to determine if an item is made of gold. Gold and other precious metals are non-ferrous, so they won't be attracted to a magnet. Sometimes, the only thing real about a piece of gold jewelry is the clasp. A magnet is a good tool for discovering fake gold.

You could also use GoldMoney to buy gold. This is like opening a bank account for gold. You just sign up for your account, fund it and then you will be assigned gold. Although you own the gold, it remains stored securely in the company's vaults. You can sell it, portion it out, or even (given the right conditions) arrange to take deliver of it yourself.

Gold is an excellent way to solidify and secure your wealth. This is even more the case given the economic turmoil of recent years. With any luck, the tips and advice found above should provide you with a resource you can use to continue building wealth with gold. investing in gold