Gold is recognized as a valuable commodity worldwide and can be a great investment when purchased at a price below market value. A little research and investigation can pay off in the form of a great find, especially when buying gold coins or scrap gold. Whether purchasing gold online or from a local dealer, there are bargains to be had.
Purchases of scrap gold can be a very lucrative investment, especially with the price of gold on the rise. Many pawnshops and jewelry stores do not have the equipment required to melt down gold. They will sell outdated or damaged gold pieces at a very low price. In order to get the best deal, verify the value of scrap gold levels and the price of gold per ounce prior to approaching one of these establishments.
When purchasing gold from places such as a flea market, make sure the gold is authentic. Real gold will not contain black or green coloration because it does not discolor. If the material feels very light or too heavy, then it is probably fake. In addition, look for the carat stamped on the piece because most real gold items sold in the United States will contain this marking.
Those who possess a large quantity of funds and the market to resell may want to become a gold wholesaler. Gold mining companies and manufacturers will sell directly to wholesalers at a steep discount. The gold can then be re-sold through the investor’s jewelry store or online auction house.
When buying gold coins, scrap gold, or other forms of gold, the most important thing to remember is to buy it during a strong economy. Then sell it when the economy is weak, in order to make the most profit. The weaker the economy, the higher the price of gold and the greater return to be gained from the sale.