Today we will give feedback to a question that we have been hearing quite a bit at GoldFellow. Is now the time to cash in my gold jewelry, or will the cash value of my unwanted gold jewelry collection rise dramatically in the near future?
If you’re buying gold pieces for investment reasons, stay away from proof coins. These coins are polished and mounted, and they can sometimes be worth more than regular coins. The problem is, proof coin value only matters to collectors, and it can vary on a daily basis. For investment only purposes, stick with regular coins.
You might be wondering why you can’t just sell it to a local jeweler. Well, most jewelers do not buy up gold to melt down and make into other things. Nor are most of them in the business of investing in gold. If your jewelry is not outdated and is stylish enough to resell, a jeweler may actually give you a better price.
Consider futures trading if you have an interest in gold bullion investing, but not a lot of cash. You can visit a local commodity trading firm and open a new account. The best thing about futures is that you can control amounts that far exceed what you actually have on hand in terms of cash.
Some people who shop for jewelry, accessories or dcor get them on impulse. Much like shopping for clothes, they realize later on that they use only a few select pieces of jewelry while others are almost never used. These jewelry and accessories are better off sold to a store.
A certain minister once said, “if you give Satan a suburb, he will want a city. If you give him a city, he will want a whole state. If you go out of your way to give him a state he will want a continent. If you are so kind as to give a continent, he will not be satisfied until he gets the whole world. Even when you have surrendered the whole world into his hands and you think that is the end of the story, that is when you will be shocked at his demands for the universe. Satan will be satisfied only when God himself comes and kneels down to him. And a first grader Christian will know that Satan will live all his life dissatisfied.
First, have your coins, bullions or jewelry pieces appraised to determine roughly how much you can get for them. If you want to sell jewelry, there are several considerations: the gold price today, the craftsmanship, other gems and metals included, and the sentimental value. If you will sell gold coins, ask experts to determine whether they are bullion (minced from precious metal) or numismatic (rare pieces sought by collectors). Rarer coins have higher value.
If you want to make money if the equity market goes up, your best bet is to invest in shares of gold mining companies. if you want to make money when the equity market goes down, you are better off investing in physical gold instead. Put money in both if you think it can turn a profit!