How to Find and Sell Gold

Gold is a precious metal and a valuable commodity. The nice thing about investing in gold is no matter what gold is selling for, it is basically the same price everywhere. It's not like shopping at a department store and finding the same blouse at one store for twice as much as another. Gold has a standard high and low bid, and asking price. Finding gold is easy. Most coin stores are also in the business of buying and selling precious commodities. Just do a little homework and soon you'll be adding a little gold to your investments.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Money
• Gold dealer
• Yellow pages
• Internet access

1. Check the asking price of gold, and the gold coins you wish to sell. The value of gold fluctuates. Kitco company provides lots of information about buying gold on their website (see Resources).

2. Take advantage of local coin stores in your area. Most local dealers sell rare coins, estate jewelry, precious metals as well as gold. Call ahead to see what the current price is. Most dealers will lock in your price when you call and make a commitment to buy.

3. Make an appointment with your local dealer when you are ready to buy or sell gold. Since gold is expensive, and the risks of dealing with gold are high, appointments are usually necessary.

4. Purchase 1 oz. gold coins, Krugerrands, U.S. Double Eagles and so forth. Gold coins are backed and guaranteed by the government they are issued from.

5. Check the listings in the yellow pages for other coin dealers in the area that also sell gold. Because gold coins are the smartest way to buy gold, why not buy them from a coin dealer? American gold eagles are the most popular gold coins in the United States.

6. Research gold prices before you buy or sell gold. Even though precious metals have a spot price each day, dealers charge certain percentages to cover their costs. Even gold dealers need to make a profit. Call and ask in advance what that percentage is.

7. Know your gold suppliers if at all possible. There are counterfeit gold coins on the market, and if you are not certain about a coin's authenticity, it helps if you can trust the dealer you are buying from.

8. Buy and sell gold on Internet auction sites. Selling small gold items such as gold chains, charms, small gold coins and so forth can be sold easily over the Internet and shipped through the mail.

9. Exchange large amounts of gold person to person. Smaller amounts are safe being sent. Just make sure your package is insured.

Tips & Warnings

• Gold is one of the more expensive precious metals, which makes it a great investment. If you are planning on investing in a large amount of gold, keep it in a safety deposit box. When the market is up and you are ready to sell, be discreet. Put the gold in a type of brief case when transporting. It's not a wise idea to advertise that you have gold.
• Strangers in the market for gold might not always have the best intentions. To prevent a robbery during a private appointment, if you have someone coming in to buy gold from you, invite someone else you know to be there too. It never hurts to be extra careful when dealing with large amounts of money.

Resources

• Kitco - gold & precious metals
• Buy gold: where to sell gold

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[jwithers]

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http://www.goldpawnshop.com