When And Where To Sell Gold

People tend to buy gold during times of crisis, due to its proven reputation as a safe investment. However, anyone buying gold would always have two key considerations in mind: when and where to sell the gold.

The issue of where to sell gold is not really a problem. Gold is readily acceptable by numerous dealers and jewelers. Even scrap gold is still valuable, since it can be melted and turned into bullion.

On the other hand, when to sell gold is an issue that might present a much bigger challenge.

When Is The Right Time To Sell?

The general rule in gold transactions is simply to buy low and sell high. However, putting this into practice isn't that simple. When is the right time to sell high?

No one can truly tell you the exact time when it's best to sell your gold. This is simply because prices tend to fluctuate as the days and months go by. You never really know whether you would have made a good decision to sell right away if the prices go down afterwards, or if you would have lost out on a much better deal if you would have waited for a price increase in future.

Fortunately, you can make a pretty good estimation of the most appropriate time to sell, simply by following the long term market trends, as well as assessing your expected monetary gain.

1. Following long term market trends:

When you consider the long term market trends, rather than short term fluctuations, you'll be in a much better position to make wiser selling decisions. Amateurs are easily influenced by short term fluctuations in gold prices, which can cause them to lose out on better earnings in future. A slight price drop might spur someone to sell off his/ her gold, fearing that the value will go down further, yet that may not be the case.

This aspect can be clearly seen from trends illustrated by Gold Price. According to Gold Price, the market value of gold stood at USD 1,219.15 on December 15th 2014 at 02:01 (NY time). This represented a 0.23% drop from the previous day's price. That slight price drop shouldn't cause any significant concern for someone who is aware that the current value is still 3.12% higher than it was 30 days ago, and even 8.79% higher than the price 5 years earlier.

2. Assessing your expected monetary gain:

Initially, when you bought your gold, you exchanged some money for the precious metal. When you sell off your gold, you'll receive money for it. This means that you should consider whether the money you get after selling your gold is of more value than the money you used to buy it in the first place.

To ensure that you get more money for your gold than what you used to buy it, you should take note of the fluctuations in currency value. This is a very important consideration, because a particular amount today might not have the same value as a similar amount 1, 2 or 3 years ago. For instance, $100 might have bought a whole television in the past, but the same $100 might be barely enough to buy a book right now.

Guide On How To Sell Gold Jewellery

Gold price is set in London two times a day through a process known as the Gold Fix. It is primarily intended to establish a trading price among the traders of bullion that are affiliates of the London Bullion Market Association, although it is extensively utilized as the chief benchmark for the pricing of the majority of gold products and its derivatives throughout the global markets.

With the prices of gold at record levels currently, many jewellers are now offering to buy back old, unfashionable or damaged gold jewellery. Numerous specialized companies are reaching towards the public through TV ads and websites. For example, in the UK, the British Jewellers' Association (BJA) is offering advice to its members plus the general public who may be contemplating of turning their old and unwanted jewellery into some cash, so that they could obtain the best deals.

Know The Gold Fineness Of Your Jewellery

This refers to the actual gold content in your jewellery. The most excellent indicator of this fineness is what is referred to as the hallmark, typically etched somewhere on your piece. Most gold pieces will normally display fineness figures.

Find Out The Gold Weight

You might not be having a scale that is precise enough for doing this although the majority of jewellery shops can do this for you almost for small fee and they might even make an offer for your gold at that point. You are not obligated to accept their initial offer but this ought to provide you with an accurate gold weight.

If your gold jewellery does contain some gemstones, it may be trickier to assess the actual gold weight it contains. Some buying companies will request that the stones get removed prior to valuing your gold. If you have reason or know that your jewellery piece has got precious stones, it would be advisable to make a call on a reputable high street jeweller and seek for a valuation based on the gemstones value. Sometimes, the gemstones could be worth even more than the content of gold.

Do Shop Around

Before you sell gold jewellery, call several companies first. Inform them of the weight of your and its fineness and then request them if they could provide you with a quote over phone. To arrive at a suitable price that they could offer you for the gold, the dealer must first deduct the valuing cost plus what it will cost them to refine the gold, overhead costs plus his profit. These costs will vary from company to the other and therefore the offers too will vary significantly, hence the reason why you ought to shop around a bit. Some companies could actually better their initial offer when you want to have back your gold, hence be ready to haggle.

The Jewellers Association of Australia advises that however you choose to sell, always follow the well established business rule of "Get 3 Quotes" prior to making the final sale. In addition, the JAA cautions consumers to verify the bona fides of that firm or company that wants to purchase their precious metal. The Association of Australia Limited website normally has a list of all registered companies dealing with jewellery and precious metals.

Gold Dealers Company has built a good reputation in the metals industry. Abraham has developed a good rapport with customers who come to Gold Dealers Company. This is one dealer whose dealings are above board.

5 Handy Tips When You Sell Gold

Today, the gold buying market is extremely competitive and it is essential that you get gold buyers who have excellent reputations. In general, most buyers will be ready to offer you a reasonable price because they desire to get your potential repeat business and also get from you a good word of mouth to boost their business reputations.

Nevertheless, there still are several fraudsters out here who are likely to try to fleece you and give you a bad deal, some who are not even registered. According to metals trading regulations put in place by the Reserve Bank of Australia, anybody who wishes to engage in selling or buying of gold must acquire a dealing license. Therefore, before you transact anything with them, you should confirm if they are registered and also confirm with your local business bureau about their reputation and standing.

The following tips are worth noting as you plan to enter into the field of gold trading.

1. Verify Current Market Prices

Gold prices keep on changing throughout the day. There are lots of online resources where you may be able to know the current prices of any precious metal at any given point of time. To know the current price allows you to vend your gold when its price is at its peak. This of course means you will get more money for your gold!

2. Know the Worth of your Items

Undertake your homework well and ensure you know the karat content of your gold items and their weight. When it comes to gold, the higher the karat content, the higher the purity of your gold and higher the value! When you know this, it assists you in determining the melt worth of your gold and it also gives you an idea on how much you could expect to receive.

3. Be Realistic in Your Expectations

It is important to recognize that there is no gold buying company which is going to offer you the total melt value for your gold items. Typically, the buyer will sell the purchased precious metals to the refiners for a certain percentage cut of the total melt worth. For the refiners to remain in business profitably, most are going to offer you between 40 per cent and 70 per cent of the final worth. The gold buyers too have to meet their business overheads and make some profit. It is business after all!

4. Don't Shy Away from Haggling

If you think that the offers given to you are below what you expected, don't hesitate to engage them in negotiations. Most reputable often will be ready and willing to negotiate. Don't shy away from mentioning you have received other offers and utilize that a bargaining tool. Ensure that as you sell gold, the buyer does not weigh your different karat pieces together; they ought to be weighed separately by karat.

5. Inquire About Their Certifications

Any reputable precious metals buyer ought to be employing proper techniques such as testing equipment and accurate scales. They must be operating in compliance with any laid down government regulations. Don't just go selling your gold to any store displaying a sign that they buy gold. Ask for and confirm their certifications for their testing procedures, testing equipment and their valuation methods.

Part IV, Section 48 of the Reserve Bank of Australia (RBA) under the Banking Act of 1959, states that you can't sell, buy or hold gold unless it forms a legitimate element of your trade. Another useful resource, the Australia Gold Trading Tips and Resource cautions that traders in Australia should take their time in learning the ins and outs of this potentially lucrative market before they take the plunge. It pays to be alert!

Rare American Coins and Gobrecht Designed Silver Dollars

Congress suspended the production of silver dollars in 1804 and finally lifted it in 1831. No silver dollars were struck between 1804 and 1834, except when they were used as diplomatic presentation sets.

In 1835 interest was growing to reinstate silver dollars as regular issue coins. Christian Gobrecht was invited to present designs of the new coinage. Many short lived varieties of Gobrecht's design were created, because of changing sentiment for the silver dollar in the mid 1830's, both by the public and Congress.

Gobrecht patterned his new silver dollar based on designs from artists of the day. The obverse of Liberty Seated came from Thomas Sully and the reverse from Titian Peale's eagle in flight.

By the mid 1830's when these coins were being designed, there were 26 states. Gobrecht original design called for 13 large stars and 13 small stars. That resulted in public criticism, because the 13 original states weren't more important than the new entries.

The early examples had Christian Gobrecht's name displayed on the obverse in tiny letters above the date. This was the only time in US mint history when the full name of the designer was placed on a coin, although initials are commonly displayed somewhere.

The dispute over the full name on the dollar coin delayed production until December 1836. Public objections were strong enough to bring about its omission in the 1838 issues.

Basically, the 1836 & 1837 Gobrecht dollars had a plain edge with his name above the date in the rock base, with large and small stars on the reverse. The coins struck in 1839 had a reeded edge, no name in the rock base and no stars on the reverse.

All Gobrecht dollars were struck in the Philadelphia Mint, and all the regular circulation coins of 1836 and 1837 have a proof finish, so the public could see the high quality of the new coins. This is unique in U.S. coinage, where coins intended for circulation were struck as proofs.

The Gobrecht silver dollars minted in their various forms between 1836 and 1839 came in both pattern and regular issue coins. A total of 1900 coins were produced between 1836 and 1839 with 1600 dollars dated 1836, even though they were actually struck in 1836 and 1837. The other 300 were delivered in 1839.

Only 1,000 of the 1600 examples were struck before the end of the year 1836. Authority for new Seated Liberty silver dollars was given by congress in 1834 with the Old Draped Bust, 416 grain weight standard of 1792, rather than the new standard of 412.5 grains of 1837.

600 more 1836 silver dollars were minted in March of 1837 for public distribution at the new 412.5 grain weight. These coins are very close in weight, but can be differentiated from the first 1836 issue, because they had the obverse and reverse aligned in "medal" fashion, rather than the prior "coin" fashion.

The 1838 silver dollar is a pattern coin only, with no regular issue struck. These coins are extremely rare, with fewer than 10 pieces in existence.

In December 1839, 300 more silver dollars were produced and were the last dollars with the flying eagle reverse. The minting of Gobrecht's Seated Liberty design silver dollars continued in 1840 with a Heraldic Eagle reverse from 1807, and stayed in use until 1873.

There was little interest in numismatics prior to 1850, so very few of these coins were spared circulation. After 1850 however, numismatics started rising in popularity among Americans.

The consumer demand was such that the US Mint started restriking earlier coins during the 1850s and 1860s. Mint director James Ross Snowden used Mint dies to create such numismatic anomalies as the Class II and Class III 1804 dollars, and Gobrecht dollar restrikes.

The number of Gobrecht dollar restrikes is believed to exceed the original mintage figures. All original dollars dated 1836 will show the eagle flying "onward and upward," while the restrikes made in the 1850's and 60's will have the eagle flying horizontally.

When Bidding for Rare American Coins on eBay Simply Defies Logic

It seems like holidays would be a perfect time to pick up eBargains on eBay. The foolish seller didn't realize when listing, that the auction would end on a holiday. No one would be around to bid on the coin. What a great way to clean up. eBid on the holidays! You come to eBay prepared to scoop up everything going out that day.

On Thanksgiving there's football, Christmas of course is family time, July 4th is summer barbeques, etc. The eBuying public is out with the family, watching TV and having fun, while these unfortunate auctions just slide out unnoticed.

Somehow my experience hasn't proven that out. I don't remember ever getting great prices when bidding on a holiday. Maybe everyone else has the same thought as me, and decides to search eBay for bargains on their favorite weakness.

When the holidays come, enjoy your family, TV, going to the movies, or that special activity that brings meaning to the day. You're not going to clean up in the eBay bargain department, so have fun on the holidays.

The other time that defies logic is the early morning bids and the mid-day week day bids. I've left lowish reasonable bids for auctions that end overnight or for auctions that end mid-day figuring not many people would be out there to bid against me.

I don't remember ever winning these kinds of auctions. There must be people up all night or not working during the day poised to grab my coin from me. Sometimes, I'm amazed at the final selling price.

Perhaps the most important tip for getting the best price on eBay is to NEVER bid at the end of an auction, unless you're scooping up a coin that's been missed all the way up until that time.

I usually bid for bargains during the last couple hours of auctions. I bid what I consider to be a reasonable, lowish price for the coin and not get emotionally involved with having it. I bid when I have time to contemplate all the factors, look up pricing in the CDN, or use personal experience to determine my bid amount.

I place the bid and move on. I make it a point not to be around at the end of the auction... most of the time. If I'm around near the end of the auction, I may just watch my coin go out to me.

I may also watch it get outbid in the last two seconds. I may watch it get outbid in the last two minutes. What I never do is increase my bid. I originally bid when I was thinking straight and considered all the factors. Why would I let emotion get in the way of reason?

Be patient. Coin bargains require patience. The coin you want for the best price will come around eventually. It's all part of the game.

If you're looking for higher grade/rarer date coins, often they aren't up for auction. They tend to be in Buy it Now listings. Knowing the value of the coin and carefully screening the Buy it Now asking price will get you some great eBargains.

Always make the Buy it Now seller a lower offer, even if "Make Best Offer" isn't an option on the listing. You simply contact them through the contact seller in the More Actions drop down menu. Most sellers will accept a 10% price reduction in order to sell their coin.

Investment Tips For Gold Buyers

Given that silver and gold prices have been rising at rates that are simply amazing, more and more people are viewing silver, gold and even platinum coins as worthy investments. Today there are lots of reputable and honest dealers who can assist you buy these instruments of wise investment at good market prices. Regrettably, there also exist several who are out to rip off any uninformed seller of their valuable coins.

Prior to investing of bullion or any of such precious metal and coins you ought to carry out your individual research and acquire your metals knowledge. It is best when this knowledge is obtained from elsewhere other than that place where you are trying to buy the coins. To be able to make a purchase that is informed investors in gold need to take into consideration the following important factors.

Price Of Gold

Investors in gold ought to be alert that generally, gold bullion coins do trade at a tiny premium over and above the real spot price of gold for the reason that they get minted by individual and sovereign governments which charge a small fabrication payment. Gold bullion coins that range between 1/10 oz and 1 ounce do go at between 3% and 15 per cent premium above spot price. This will be based on the coin size and the amount being bought.

Most major dealers of gold bullion on average will sell you a single, 1-ounce American Eagle gold coin at roughly 4 to 5% over the existing melt or spot worth. Some of the fashionable gold bullion coins today include the American Eagles, Krugerrands from South Africa and the Maple leafs from Canada. As a metals investor, you ideally ought to get in touch a number of reputable dealers and look for the best possible price. For instance, in the US, the Federal Trade Commission (FTC) publishes a list of all certified traders in the country.

Collector Coins Vs. Gold Bullion

The President of the Professional Numismatists Guild (PNG) Jeffrey Bernberg advises that in case you are not very acquainted with your coins, it would be best to know a good coin dealer who can assist you in making responsible buying decisions. Some coins might be available readily in their circulated state for a fair premium beyond their gold bullion content. Those very coins when in outstanding condition might be having considerably higher worth -- possibly in thousands above their melt worth. Currently, the market for high-quality and precisely graded rare coins is fairly strong.

Rare Gold Coins

Gold buyers should be able to distinguish among those regular bullion coins whose worth in general rises and falls in accordance to the existing gold price and the "rare coins" which could be carrying a considerable collector premium price depending on historical forces of demand and supply.

It calls for more expertise and diligence when purchasing rare coins. It is possible for two coins to look similar yet possess entirely different grades. Such a disparity could add up to several hundreds or even thousands of dollars. If possible engage a specialized grading service and obtain an authenticity certificate when purchasing rare coins.

Gold Delivery Specifications

In normal situations, the delivery of your purchased coins should be done within 10 and 14 days. Nevertheless, if it so happens that during the purchase time, the gold seller is aware of a potential or existing mint delivery hitches, this ought to be disclosed to you so that you are aware of a possible delay.

Gold Dealers Company has been buying gold in Australia for many decades. Their buying prices are fair and competitive. Abraham will ensure that you remain a happy customer when you come to Gold Dealers Company.

Silver Bullion Is Beautiful

Gold has become a very popular investment after people saw their savings and real estate values depleted after the Great Recession at the end of the last decade. In fact, gold became so popular that the news about it may have gone part of the way towards driving the value up.

By now, everybody has heard of "gold bugs." These are investors who are very bullish about the future of gold. However, there are also plenty of silver bugs around, but they do tend to keep a lower profile than gold investors. Of course, many people who love the precious metals market invest in both gold and silver to their advantage.

Silver: The Other Precious Metal

That "other" precious metal, silver, never got as much publicity, but many experts say that silver is actually more undervalued than gold. The good thing about silver is that it is much cheaper, and this also provides an opportunity for people with lower budgets to begin to grow their stash of precious metals.

Besides, it is easy to argue that silver is actually used more for industrial applications than gold is. There is no doubt that gold is valued around the world. There is also little doubt that gold has proven that it can hold its value during different economic times. However, silver also does that, and it is also demanded by a variety of different kinds of manufacturers.

How To Invest In Silver

A supply of silver bullion may also be very available and easy to snatch up at discounted prices. For example, US coins were mostly made from silver until the 1960s when the country decided to use base metals. Some collectors look for the best examples of these coins, and they are worth quite a bit.

Collectable coins are not what silver investors want to find. However, there are old coins in worn condition that are not valued by collectors. Sometimes these are called "junk" silver, but they are not junk at all. They are very valued for their 90 percent silver content. It might be possible to buy these very cheaply, even under their melt value, from people who have old coin collections and don't want to bother with coins that are not very valuable.

Other sources of silver could be old candlesticks, broken pieces of jewelry, and even silverware. Good places to find deals are auctions, estate sales, and even yard sales. Many people offer items for sale that are not really aware what they have. It is a lot harder to trip upon gold items this way, but it could happen.

Why Consider Investing In Silver?

There are many reasons to invest in silver. It provides the same advantages of investing in other precious metals like palladium, platinum and of course, gold. However, it is cheaper and easier to find. That makes it more accessible for average people who want to protect their finances with precious metals. Silver is not really the anti-gold, but it is a complement to gold

If you want to learn about the best ways to add silver to your portfolio, or are looking for general gold and silver investing tips, tactics and articles visit my website at Gold and Silver Spotlight.