When investing in gold, bullion bars are the best way to go. There are numerous sizes available. From .5 ounces to 400 ounces, the choice is yours. However, you may have a hard time locating bars that weigh four hundred ounces.
When you invest in gold coins or gold bullion, plan on it being a long-term investment. The premiums and fees associated with buying gold are much higher than those paid for the purchase of stocks and bonds. With the shipping charges for heavy gold bars, you may actually be down a bit on your investment initially. Separate jewelry by their karat values before getting an offer. A lot of times, gold buyers will try to give you a price for the lowest karat and lump everything together. Think of that and make a point of separating your pieces according to karat, so you’ll get a better price. Try to only buy and sell your gold to certain dealers that are recognized through official gold and money associations. These dealers must follow strict guidelines under these organizations to ensure that you get fair compensation or quality pieces. One such well-known organization is the ANA or American Numismatic Association. 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. Do you know how pricing on precious metals works? Silver, gold and platinum prices vary from day to day, so spot check a price on the day you plan to do business. You may have to pay higher prices, though, for pieces that have a small fractional measurement. Now you know why gold is so valuable. Gold is a wise investment and is beautiful to wear as well. Use these tips to begin investing in gold.
You must understand what is meant by a karat when you are buying or selling gold. Gold is a relatively soft metal so it is normally mixed with other metals to improve durability. A karat is the measure of how much of your metal is gold. Twenty-four karat is almost pure gold while ten karat is about half gold. While doing your research about the seller of gold, be wary of reviews on social media sites. Gold sellers have been known to pay people to produce false reviews about their services. Do not count solely on the reviews that you read on those sites and continue your research through other sites.
Have a basic understanding of grams and pennyweight measurements when selling your gold. Some jewelers will measure in pennyweight but pay in grams, and this results in a lower payment to the seller. Avoid this by asking what measurement your jeweler is using before your pieces are ever weighed, and make sure you are paid based on that same measurement.
Gold is a sound investment decision. If you acquire strong knowledge, it may be possible for you to make substantial profits. Keep reading if you want to learn more about gold investments.
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. Do not hesitate to sell any gold jewelry that you no longer have use for. There are many people that hold on to these pieces for no logical reason when they can be sold for a tidy profit. The money you make from the sale would do more good than unused jewelry sitting in a box.