Tips For Selling And Investing In Gold Jewelry

You may have gold jewelry that you no longer wear or use. If so, you should think about getting some kind of performance and a very good way to do it is by selling them on the gold market.

That is, if you want to sell your second hand gold jewelry it is important to take into account a number of aspects. In today’s post we show you some useful sales tips.

What to consider

To make the sale of your gold jewelry, there are certain checks and tricks that you should never forget. Here we show you the most important ones:

– Carats: not all gold jewelry is the same, since there are different types of gold. The 18 carat jewels are the most common, although there are also 24 carat and 14 carat jewels. The price of the gold jewel will vary depending on its carats.

– Weigh your gold jewelry: the sale price of a jewel should be calculated based on its weight. Everything that is not gold should be discounted from the weight (parts steel, skin, stones not precious …). Therefore, it is recommended that you get a small precision scale.

– Brands and inscriptions: a jewel that includes some type of brand or registration will be more difficult to sell. Whenever possible, best sell used gold jewelry that does not have them.

– Brand jewelry: the sale price of this type of gold jewelry, not only depends on the weight, since it also takes into account other types of factors such as the brand, design… It may be useful to look for the “new” price of the jewel (if it is still in catalog). In this way it will be easier for us to calculate the price at which we can sell it.

– Outside sentimentality: although it may be “complicated”, when calculating the price we must stop band as sentimental as the jewel can be for us. The future buyer will not take it into account.

– Cleaning: it is essential that the gold jewel is clean. A clean gold jewel transmits more confidence and guarantee. Therefore you know, before putting it on sale, you must perform a thorough cleaning of your jewel.

– Jewels with diamonds or precious stones: in the case of jewels have diamonds (Brilliant) or any other precious stone, these must be assessed independently. This type of gold jewelry must be sold at a higher price.

– Where to sell these jewels? Like any other gold product, you can sell them directly to an individual or through a gold sales shop. Our recommendation is that you always sell your gold jewelry to professionals.

– Make a contract: to avoid any problem, before selling your gold jewelry it is almost essential to make a small purchase contract. In this way everything will be reflected in writing.

TIPS on how to invest in gold

If you have ever considered what to do with your savings, you may have thought about investing in gold. You probably also thought, and how do you do that, because one thing is to make the decision, and another to know how to do it. Here are some tips that will help you when to buy gold or investing in gold.

– You can buy physical gold in the form of bullion or coins: This option has several drawbacks: the risk of being stolen if you have it at home; the cost of custody if you leave it in the safe of a bank (it is expensive) and the risk of it being damaged, with the consequent reduction of its value.

– Certificate of deposits: It is the most widespread form. One neither acquires a certificate of deposit, which shows that we are the owners of that gold although we do not have it physically in our hands nor is it stored in any bank.

– Take actions of mining companies: Some people prefer to acquire shares of companies related to gold mining. It is also a reasonable option.

– Investment funds: they work like normal investment funds. What characterizes these is that they only invest in shares of companies related to gold mining.

– Gold futures: they are derivatives in which, when the expiration date arrives, the buyer has the obligation to buy the gold, and the seller to deliver it. This option is good, but a little more complicated than the previous ones, among other things because we have to be very aware of the dates (if we miss the deadline, we have a problem).

And, finally, if none of these options convinces you, you also have the possibility of investing in silver. Some people think that, although it is cheaper, it increases in value faster than gold, which can be a good solution to protect your savings. If you decide for her, you can buy, as they say in silver bars or coins, buy certificates of deposit or invest in shares of companies linked to the extraction; that is, you can do practically the same as with gold.