Finding cheap gold is something many people actively fantasize about or work toward. The truth is that this is not a pipe dream. Gold really can be purchased or even found by searching at a much lower price than current market value. They key is to look outside the standard locations and the auction houses and dig deep into the harder working section of the industry and public commercialism.
Three Tips For Finding Cheap Gold
Many people invest in gold coins or other well known versions such as gold bullion bricks and jewelry. The truth is that this is perfectly fine but they go about it the wrong way. Most individuals wait until gold fever strikes the world and everyone and their elderly grandmother is trying to find every scrap of that precious metal to buy or sell it. The ability to sell gold when it is highly priced and to buy gold when it is relatively cheap resource in comparison is akin to an art form. Gold tends to creep up and down in price over the course of months and years, not by the minute. How then does someone in the middle of a modern day gold rush find gold on the cheap?
1) Purchase gold second hand and damaged. Jewelry stores and pawnshops that aren’t equipped to melt down the precious metal love to sell damaged or unpopular pieces at a lower price. Verify the price of gold per ounce and the value of individual carat levels of scrap gold the morning before you go in search of the much desired metal. Take this knowledge on your daily rounds in a desire to find a reasonably priced piece of gold that you can afford.
2) Purchase gold from unusual resources but only if it is verified as legitimate. While some people would be leery of purchasing gold off the street or at flea markets the savvy buyer can do so if they pay attention to a few important items of note. The first is that real gold does not discolor. If there are any black or green parts of the gold then it is fake. If it seems too heavy or too light then it is probably fake. If it is being sold in the United states and it does not have a carat type stamp such as “24k” then it is possibly fake.
Flea markets can be a good place to locate cheap quality gold, the only issue is that it must be verified as real gold. Be smart, be informed, and be ready to walk away if the deal seems too good or something shady is going on. This is the more “dangerous” route for purchasing cheap gold both financially and sometimes physically.
3) Becomes a gold wholesaler. This is most likely the more difficult of the three suggestions, but if you happen to be someone with substantial funds and a market for this precious metal then many gold manufacturers and mining companies might sell directly to you and a serious discount. This is the most expensive route but it is also the easiest if the money is already there. As an example a proper market for gold is someone that owns or is interested in owning a jewelry store, collectible shop, or online gold and jewelry auction house.
Crash and Burn
While the three previously stated tips are the most important for purchasing cheap gold in a gold rush there is one primary method for buying and selling gold for the most effect. That method is simply to buy it when the economy is strong and hold onto it until it goes down the economic crap-shoot.
There is no cheaper way to attain gold than to use the aforementioned tips and concepts to buy gold when the economy is going strong and then holding onto it for the eventuality that enough people in enough places will get too greedy and ruin the world economy. In times like that gold will slowly rise in price to an incredible amount. For instance, in 1999 gold was only worth two hundred and fifty dollars American per ounce. In 2008 it had quadrupled to one thousand dollars American per ounce. Given the availability of some people to buy gold at anywhere from fifty to ten percent of gold’s current value and resell it anyone who owned ten ounces of gold at thirty percent of its retail value in 1999 would have spent seven hundred-fifty dollars American and nine years later could have sold it for roughly ten thousand American dollars.