Looking at gold as a way to obtain value isn’t a new concept, but its importance today is due to the downward economy. If you’re interested in gold, the material here can provide some excellent investment insight. Read on for some priceless advice.

It is important to invest in the right type of gold when doing so for your retirement. It has to be IRS approved. That means that the gold is a minimum of 24 karats, and formed as coins or bullion bars. Try to buy gold bars more than coins, because they are much more valuable.

When considering mailing your gold away for sale, be certain you know how much return mail will cost should you change your mind. While most firms will pay to have you send them your items, they will charge you a considerable amount if you want them back. Know beforehand how much you would have to send in order to get your pieces back.

You may even be able to find old gold at thrift shops or garage sales. When you know what to search for, you can find great items in these places. Many people don’t understand how valuable their items are, so they sell for cheaper than they could at these places. You can gain from their loss!

When you try to sell gold, you must research the market to find the right price. Look around to understand what people are asking for similar pieces. Doing this will provide you with a helpful price to work around. Begin the negotiations by asking for more than you expect to receive.

Frequently, earring backs are made of solid gold. This is the case even when the earring is not made of pure gold. Ring bands and the clasps of necklaces usually are, too. Since these items are so small individually, it’s best to sell them together in a larger lot. That means they are collected into an assortment that can bring a better price together.

Talk to the BBB before selling your gold to a jewelry store, dealer or gold buyer. The BBB’s website will share any negative reports made against a company through the BBB’s service. You should especially pay attention to any customer complaints filed as well as what the resolutions were. Businesses that have many unresolved complaints should be avoided.

You can invest in gold without collecting it. You can buy gold shares in an ETF, a mutual fund with a focus on gold, or in gold mining equities. If you decide to buy gold bars or coins, consider how much it would cost to store it securely.

Sort your gold by how many karats it is. The buyer will doubtless weigh all of your pieces before setting a price for them, and if you aren’t attentive you may see everything lumped together and weighed with the lowest-karat pieces. This of course results in fewer dollars for you. Instead, separate each karat weight before going to the dealer.

Gold has always been an excellent investment and a good way to insure wealth. The decline in the economy has made gold even more popular. These tips will help you make the most of your gold investment.