Gold has universal value and has been valued for centuries. If you are considering buying some gold, the following advice can help you get the best value for your money when you buy or sell this precious metal.

Get valuations for your gold piece before you put it up for sale. There are many places to get this done, and they each have different target margins. Getting estimates from several establishments will help you to understand what you can get for your gold.

Gold prices change all of the time, so be aware of the purchase price before selling your gold. If you sell gold, sort it by karat so that it can be valued separately. Don’t sell jewelry that’s worth than straight melt value.

Research any gold buyers and shop around for a reputable buyer.

Check out current price in the gold market before you ever sell any jewelry. This way you will indicate whether you’re getting a dealer is offering you the proper amount for your items.

If you’re thinking of mailing off some jewelry to someone, take the time to read over their fine print before getting involved with them. Find out when you can expect your payment, and never send your package without insuring it first.

Get an appraisal if you do not know the value of your jewelry. Although appraisals cost money, at least you’re getting fair market value for your items. If you decide to sell, you should know that you will not be paid the full appraisal value.

Most private sellers and pawn brokers are only willing to pay melt value for your gold.

As exhilarating as gold gets, avoid telling people about it. You never know who to trust or who is listening.Make sure that your gold investments to yourself and protect them by storing them in a local bank safe deposit box. This will ensure your gold in all circumstances.

You may even be able to find valuable gold; places like thrift stores are often great places to discover good deals. You can find bargains if you understand what to look for.You can benefit from the seller’s loss if you do your homework first.

Use a magnet to quickly determine if an item is made of gold or another precious metal.Precious metals do not going to be attracted to a magnet. Sometimes only plated in gold with a solid but the rest is plated. This is a good way to test for that.

Gold is usually a safe investment but volatile investment. If you’re not ready for a roller coaster ride, you should avoid it. Even if this does not bother you, take steps to limit your risk. Only a very small portion of your portfolio in gold. A good limit is about five percent.

The purity of golds is measured by karat. The higher they are, the costlier and more pure the gold will be per ounce. You cannot just go by the carat stamp.You won’t pay too much for poor quality when you know how to do gold purity.

As the article indicates, gold is a great commodity to have. Investing in gold makes sense, given how often it holds or even grows in value over time. Armed with this knowledge, you are ready to start your own gold collection.