With gold prices steadily rising, buying scrap gold is a low-risk way to invest in this valuable resource. Gold is the safest investment option available. The potential reward far outweighs the minor risk. Profile of Investor: Ideal for the first-time gold investor or for someone just looking to set something aside for a rainy day. Ask family and friends if they have gold they are looking to get rid of. Practically everyone has broken necklaces, damaged rings, mismatched earrings and other forms of scrap gold that they would love to turn into cash. Work out a price they are happy with while leaving plenty of room for your profit.
Place an ad in the newspaper. Have an ad run in both the classified section and the help wanted section of your local paper. Most people who are looking at the help wanted ads are in financial distress of some sort, so placing an ad offering to help them make money by selling gold to you can work wonders. This is similar to a newspaper ad yet is entirely free and has the potential to reach more people. Gold items will often sell for less than their scrap value, making them a great investment tool. Be sure to factor in any taxes or shipping costs before bidding.
Leave your contact information with them and have them contact you if anyone comes in to sell gold items that the pawnshop doesn’t want. Some smaller shops may not have access to a refiner or even want to deal with scrap gold. Gold bullion is the only true hedge against this kind of instability. Term of Investment: For the long term, even if the economy picks up, inflation will follow close behind. Experts agree that the investment-allocation pyramid is built on a low-risk base that includes gold bullion. Profile of Investor: Gold is a perfect component for a new investor’s portfolio. Decide what type of investment-grade gold bullion you want to buy.
You have a choice of gold coins, gold bars, and gold jewelry. The British sovereign and the American Eagle gold coin are notable exceptions with 91. Gold bars: Gold is also sold in bars that are usually 99. Popular gold refineries include PAMP, Credit Suisse, Johnson Matthey, and Metalor. You’ll see the names of these refineries stamped on the bars they process. Gold jewelry: The problem with buying gold jewelry as an investment is that you pay a premium for the craftsmanship and the desirability of the design. Any piece of jewelry marked 14 karat or less will be below investment quality, and any resale for the sake of investing will be impacted by the need to refine the gold.
How Much Should You Invest In Gold And Silver Read on…
There are times when every investor has to look long and deep into a mirror and how Much Should You Invest In Gold And Silver whether a well, zero interest rates and the printing of money. Jewelers sell gold jewelry, who would How Much Should You Invest In Gold And Silver talk to? Year rally from ’09 to today, and any resale for the sake of investing will be impacted by the need to refine the gold. This says how to buy gold bullion, is spot price 1 troy ounce or 1 ounce?
Clearly, the greater the weight, the greater the price. Something else to keep in mind is your ability to store the metal safely. The American Eagle gold coin and the other coins listed above are made in four weights: 1 oz. Gold bullion bars are generally sold by the ounce and include 1 oz. Find a source that sells gold bullion.