You Can Sell Gold For Good Profit

How To Invest In Gold: 5 Ways To Buy And Sell It | Bankrate

Gold is often in the news especially when it is soaring or plummeting. For anyone who owns gold there is always a possibility they might want to sell in the future but the question many often ask is if they can make much of a profit selling their gold when the price is going up. The answer would obviously be: Yes. But most savvy investors know that when you invest in commodities like gold, it is best to plan for the long term as the precious metal markets tend to be more volatile than other kinds of shares.

The truth is anyone can make money from selling gold. The appealing thing about gold is that it stores its value. Because it is recyclable, you can sell your gold jewellery regardless of the state it is in and use that money to take care of the things that really need taking care of.

As a seller of gold, there are a few important terms that will repeatedly come up. It’s important to familiarize yourself with their meanings before moving forward.

What Is a Hallmark?

In jewellery, a hallmark is a stamp used to certify that a jewellery a piece is made up of a certain amount of precious metals like gold, silver, or platinum.

What Is a Karat?

A karat is a measuref of gold out of 24. An 18-karat gold necklace or ring is 18 made out of 18 parts gold and 6 parts other metals. This means that there is about 75% of pure gold.

There are a few items you might want to have on hand if you plan to sell your gold to a gold dealer Brisbane.

The first thing you’ll need to buy is a gold testing kit. Most dealers will have testing kits they will use to verify that what you are selling to them is aunthentic. Gold dealers will use different acid to test 10, 14, 18, and 22-Karat gold.

Scale

A professional jewellery scale might be too expensive to buy but a good, reliable scale will do. However, what you measure on your ordinary kitchen scale might be different than what a dealer gets on a professional scale.

Magnet

Gold is not magnetic, to check the authenticity of your gold you should use a magnet.

When selling gold timing is important

 You can sell your gold quickly when the demand for gold is high and make a small profit. Remember though that you will be paid the value of scrap gold but that doesn’t mean you will be selling your gold at a loss. If you have unique gold jewellery pieces you may want to consider other markets. You may get more for pieces when selling to antique shops.

Do your research on the gold you want to sell. Remember that unlike gold jewellery, gold bullion always fetches higher prices because it is made with the purest gold. There are a number of reasons why people would approach gold dealers, debt, divorce and debt. These aren’t ideal situations and many people find themselves selling as below market value.

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