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Paul Chehade - The Ins And Outs Of Gold Purchasing And Selling.
Although gold prices are extremely volatile, the price of gold has always trended upward. When it comes to something like gold, there's always a huge market out there. In hard economic times, gold values go through the roof. Continue reading to learn how to invest in gold.
Gold prices change frequently, so you must stay apprised on the values of your items. If you decide to sell your gold, pieces with different karat values should be weighed and valued separately. Don't sell jewelry that's worth more due to maker or designer.
Only sell to reputable buyers. Use resources like the Better Business Bureau and customer reviews. A buyer with a good reputation is going to give you a better deal for the gold you have, and they probably will have great customer service too. Protect your interests and your gold by doing this.
Before you mail any jewelry to a particular company which purchases such items, be sure to do your homework and check out the company thoroughly before you do so. You should be clear about when you can expect to be paid. Insuring your gold shipment is a good idea, too. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.
You must be sure to purchase the right type of gold if you hope to rely on it in your golden years. The gold has to be IRS approved. Only 24K coins and bullion bars are eligible. The bars are a better buy than the coins are because they are more likely to retain their value.
Don't have much money? Invest in scrap gold. Invest small amounts of money in scrap gold. After a few months, you will have accrued a significant store of gold. Store your gold in a secure location until enough to cash in has been amassed.
Only buy gold jewelry from a seller if they have a return policy It's not uncommon for many pieces to not be the receiver's taste or the wrong size. By ensuring that the dealer offers a return policy, you can help protect yourself.
Make sure you verify the price of gold the same day you plan to buy it. This price can be found on a number of websites. When purchasing, don't pay greater than 8% markup above the spot price. Some dealers will try to charge more, but they are overcharging and oftentimes, not ethical.
There are many sites where you can purchase gold, such as GoldMoney. It can be compared to "gold bank accounts." You set up an account, deposit your funds, and you're assigned some gold at a price that prevails to your account. You can redeem the gold bullion in one-kilo bars or leave it in the vault and trade it or cash it in.
Clearly, gold provides a reliable measuring stick for the economy. To capitalize with gold trading, you must know all all about the market and you must set goals for yourself. Put this information to good use when you are considering gold investments.
Paul Chehade Federal Mining & Titanium Reserve
http://www.titaniumreserve.com
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