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The buying and selling of gold is something that many people have turned to since the economy has been in decline. Many people today are seeking answers that get them more informed about this industry. If you would like more information on how to buy and sell gold then continue on for solid tips.



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.



Before attending a gold party, separate your jewelry by karat weight. Some buyers will try to weigh all of your pieces together, and then pay you based on the lowest karat weight among them. This amounts to less money in your pocket, meaning you have made an unfair sale.



When trying to determine if something is real gold or not, try holding it up to a magnet. Since true gold does not have any magnetic properties, it shouldn't respond at all. If you observe any attraction between your &gold& and the magnet, you've probably been fooled or simply found a good imitation.



Go into your gold selling knowing the current price of gold. This is a commodity that has a fluctuating price. Every day it's something new. If you aren't in the know, you could be taken advantage of by a less than reputable gold buying company. Remember, knowledge is the real power here. Go into any negotiation ready with it.



If you own gold or plan on buying some anytime soon, be sure to also invest in a good safe, unless you're going to store it in the bank. Many financial institutions don't insure their safe deposit boxes, so people tend to harbor gold at home. Get a solid safe, home security system and have the gold insured, for the safest keeping.



Be extra cautious when using a mail-away service for selling your gold. Always buy shipping https://www.diigo.com/user/legalnews667/onlinepawnshopColorado for your items. Know how long the dealer will hold your pieces before melting them, and know how long you have to accept or reject their offer. And keep an inventory with pictures of all the items you've sent.



A photo id is required with each sale of precious metal. This is because the information is kept on file to assist local police authorities in the investigation of thefts and robberies. A reputable dealer will require identification when selling gold. If the buyer does not require identification, he is not honest, and you should find a different gold dealer.



Don't just bring your gold to a buyer without knowing its true value, no matter how badly you are in need of cash. Calculate the value of your items based on purity and weight so that you have a good idea what the fair market value is. Only then should you bring your gold to a dealer.



Watch out for the gold buying bait and switch. There are buyers out there that promote the price they'll pay for bulk gold, but don't tell you that the price is much more for smaller quantities. This can leave you making a very bad deal. Ask before you make any sort of commitment.



When selling gold, it pays to shop around. This includes checking with http://www.law360.com/articles/846368/in-the-hot-seat-wells-fargo-displays-arbitration-s-failure and nationally. To get the most bang for your buck, ask what fees will be assessed during the sale. Just because a dealer is offering to pay more per ounce, does not always equate to more money in your pocket. This extra money can be ate up by fees and commissions.



Just because you bought your jewelry at a certain price doesn't mean the gold associated with it is worth a similar price. You've got to be realistic here. It may be that the gold is only worth a small portion of what you spent overall. Maybe that's because there were precious gems attached or the price of gold has dropped significantly.



As with the majority of investments, gold investments are best entered into with a long-term expectation. You can't just buy when prices are high. Investing needs more research than that. If you buy in both positive and negative times for gold, you will get a cheaper overall price.



Before you decide to sell your gold, check on the current value. Dealers want to take you while you are desperate for cash. Sometimes they believe they can use this to their advantage. A reputable site to discover the true value of gold is at goldprice.org.



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.




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Gold has traditionally provided a stable repository of value, even in the most turbulent economic times. In order to extract maximum value from your own participation in the gold market, knowledge is absolutely essential. Hopefully this article has given you the foundation necessary to launch your own exploration of the possibilities offered by gold.