Gold Dealers: Things You Should Know
An investor who has the right questions can sort out the good gold dealers from the bad ones. For instance, you have to ask if the gold dealer is willing to buy back the gold at a later date. If not, you will have to pay for the assay costs when you sell your gold. Another important point is to focus on getting gold bullion as this can be easily liquidated if the dollar declines. Although rare coins can potentially have a higher value than the market price of gold, these are also not easy to liquidate should the economy deteriorate and it becomes necessary to sell your gold. Most buyers are investors, not collectors. Their main concern is the market value in gold ounces of your gold supply.
Although many gold dealers are extremely honest, understanding the value of repeat business and referrals, it’s important to shop around before deciding on one that you like. Find someone who gives you the most favorable options when it comes to liquidating your gold bullion.
A gold dealer should not be confused with a jeweler. Gold dealers are interested in the weight of gold and are willing to pay fair market price for it. They are not interested in the stones or the craftsmanship involved in jewelry. While some gold dealers may accept gold jewelry, this is not the best place to sell them. The best price for jewelry will only be offered by a jeweler. On the other hand, a jeweler is not the best place to sell your gold bars or gold coins.
Avoid high-pressure gold dealers. Since there are so many honest gold dealers, there is no need to deal with someone who only offers to buy your gold immediately at a price that you think is well below market value.
Some of the best gold dealers are able to advise you about the market value of gold in relation to balancing out your portfolio.