Figuring out what gold is great for is something most investors need to know. It's a great way to diversify your portfolio. But, how do you start? The volume of available options may overwhelm you a bit at first. Read on to make the process of gold investment easier.
Bullion bars are hands down your best gold investment. The weights will vary. They start at a mere half-ounce, but also rise as high as four-hundred ounces. If the 400-ounce bars interest you, you're going to have a hard time finding them.
Check spot prices before you buy. You can find this on a variety of websites, and it can change daily. When you actually go to buy, do not pay more than an eight percent markup over this price. Some dealers are going to try and charge you more, but don't pay it.
There are many sites where you can purchase gold, such as GoldMoney. It's akin to opening up a bank account but with gold instead. You establish your account and deposit your money, and they assign you a certain amount of gold equivalent to the value of your initial deposit. Instead of having to keep this valuable commodity at home, it sits safely in the vault at the bank. You are free to withdraw any time you chose.
selling gold jewelry As exhilarating as gold gets, don't run your mouth about it. You have no way of knowing who might overhear your conversation and who is truly trustworthy. Keep your gold investments to your own self, locked up and secure. Consider a bank lockbox or a safe at home. These methods provide you with safety and security.
selling gold When purchasing a piece of gold jewelry for someone else, be sure there is a return policy. It's entirely possible that a particular piece ends up being improperly sized or simply unappreciated by its recipient. If this happens, you need to return it for a complete refund.
Realize that all items containing gold have some sort of resale value to dealers. This could be tableware, broken jewelry, and other stuff you have around your house. Solid 24-karat gold isn't the only type that dealers are interested in, either. It could be gold plated or a bit of gold and still be sold. You are sure to turn a decent profit.
sell gold Find out the spot price for gold on the day that you're planning to buy. This price changes every day. You can locate it on several different websites. Only place your order if you can find a dealer willing to sell for an 8% markup or less over the spot price. Be on the lookout for any unscrupulous dealers who try to get away with overcharging you.
You can use a magnet to test precious metal inexpensively. Precious metals, such as gold, are not magnetic. Sometimes it's the clasp that is gold, while the rest is only gold-plated. This can be a useful method of testing for that.
Understanding how you can invest in gold is key to diversification of your portfolio. You should have a better idea of how to invest in gold thanks to this article. Use these guidelines to pad your pocketbook.