What is a Gold ETF? Is Selling Gold Jewelry More Beneficial?
When exploring the world of gold investment it is important to know about a thing called a Gold ETF, or a gold exchange traded fund. These traded funds are no more than representations of gold, reflecting the current gold price. Much like stocks and bonds, a Gold ETF is an intangible contract of funds that are only the cash equivalent of gold. For many investors this type of gold investing is preferred to selling jewelry.
But investors who are just setting foot into the gold market may wonder whether they can benefit more from exchange traded funds or from actual gold pieces. Are Gold ETFs the way to go, or should investors stick to the real deal?
Physical Gold
On one hand, many gold investors take pleasure in dealing with
physical gold in the form of coins or bullion, as well as selling jewelry to
gold buyers. For them, the more rare and historical the coin, the more eclectic the jewelry, the more interested they are. Besides, selling jewelry online gives investors more control over their investments than simply wiring funds to and from an account. Selling gold coins to pawn brokers and gold buyers also gives tangible confirmation of the sale instead of moving abstract figures.
Advantage: Buying gold helps hedge large wide-scale monetary crises such as fallen stocks. Or, if ever there was a future wide-scale monetary crisis, it’s likely the banks that are controlling the funds could become
bankrupt or insolvent.
Disadvantage: Physically owning gold pieces can be a burden for
investors who are just looking for a way to profit from price variations in the
gold market. Investing in rare coins is a long-term endeavor whereas Gold ETFs
are traded frequently.
On the other hand, each Gold ETF typically represents one-tenth
of an ounce of gold bullion. So if the price of gold goes up 10% the ETF shares
increase at the same proportion. Transversely, if the price of gold goes down
10% so do the ETF shares.
Advantage: A Gold ETF is much like a stock that can be traded on a
major stock exchange, making it easier to buy and sell. The fees are also very
low, which isn’t always the case for physical gold pieces.
Disadvantage: In the event of a banking institution’s bankruptcy
Gold ETFs are likely liquidated, which means that investors are left with no
shares, no physical gold, and little cash for their investment endeavors.
As far as gold investment goes, there are two sides of the
coin. Entrepreneurs and business investors looking to make money off gold
transactions are less likely to see value in owning physical gold pieces. Yet,
there is still a certain amount of allure involved with physical gold in the
form of bullion and coins. In fact, selling jewelry online gives investors the
benefit of owning gold, but still getting the most from their investment
without having to take it to a pawn shop or gold buyer. Another point in favor
or owning gold jewelry is the amount of additional investors attracted to the
craftsmanship of the piece, and not just the gold value.
How to Find A Gold Buyer Who Will Offer You The Best Deal
The difficult economy will surely have you digging into your safe boxes for those old golden jewelry items that can be sold for some extra cash. It can be some worn and beaten pieces of jewelry you’ve been keeping for years. Or it can be old coins. Whatever your piece of gold item is, you will have to look for a gold buyer who will offer you the best deal for your treasured possessions.
There are plenty of buyers and gold refiners who are advertising their business both online and in traditional media, like newspapers. But not all of them will offer you the accurate worth of your gold. The challenge is how to choose which of these buyers to sell your gold to, someone who will not cheat on you. Consider the following pieces of golden advice, so to speak.
One of the first things you should do is read reviews customers have written about a particular gold buyer or refiner. These customers often write honest opinions of the product or services they just had. If they are not satisfied with the product, they will surely write about it. These reviews can often be read on chat forums and blogs. Learn from sellers who have disappointing experiences with buyers. Take note of the buyers who have negative reviews and try to avoid them. Conversely, list down the names of buyers who have positive reviews and get their contact info. They are your potential buyers.
Second, determine the value of your items. The price of your jewelry depends on several factors, such as the present market price. But you have to keep yourself updated because the prices of gold constantly change. You need to know what is the carat and weight mark. Some people will offer you a very low price. Choose a buyer who has a lot of sellers or someone who owns a gold refinery. These people can afford to offer you higher price because they don’t need to pay for refining fees.
Third, ask your friends and relatives if they have a gold buyer to recommend. Most of the time, the recommendations of your friends and relatives are reliable because they don’t have any reason to fool you. In fact, they will be willing to help you get a buyer who will offer you the best deal for your gold.
Different Options To Sell Gold: Quick Facts
There are several ways to sell gold, each with its pros and cons. Armed with knowledge, you can be able to make a good decision on where to offer your gold.
This socializing event lets sellers and buyers do their business in a more fun way. Sellers can market their jewelry for greater value while buyers can have more options. However, the big drawback in gold parties is that you’re not sure with the person you’re dealing with. Not all party hosts are gold professionals, which mean your jewelry may not be evaluated equally. Plus, there’s the company cut and a 10% commission to the party host, leaving you with around 50% of what your piece is actually worth.
Jewelry/Coin Shops
The benefits: there’s surely a local jeweler or coin shop nearest you and you’re more likely to receive up to 70% of the gold’s value. More than that, buyers pay more for the jewelry itself, especially if it is finely crafted, than just make an offer based on the scrap value.
Mail-away Operations
Probably the most convenient way to sell gold, mail-away operations let’s you do business in the comforts of your home. These companies send a prepaid envelope where you drop in your jewelry, and they mail a check with the receipt and guarantees to return your gold if you’re not satisfied with the price. It’s easy yet it often comes with a price.
Pawnshops
This shop has its advantage of letting you take the jewelry back if you decided to keep it. However, you must buy it back at a higher price.
Hotel Gold Buys
Aside from buying gold, this business also offers good money if you have collectibles. However, the limited-time engagement may put pressure on the transaction that you’ll rarely receive more than 40% of the gold’s scrap value. More than that, since they are often moving, you have small chances of catching them up if you feel tricked.
Gold Doubloon Fetches Millions
It may sound like a headline from the Pirates of the Caribbean, but in actuality, a gold Brasher doubloon from 1787 sold at auction in New Orleans just this year.
Rare coins have been known to sell for high prices, but a gold coin of this caliber sold for $7.4 million, making it one of the highest
prices any coin has ever fetched. The gold coin left the hands of Blanchard and
Co., in New Orleans, who sold the doubloon to a Wall Street investment firm.
Historical Gold Coins
What’s most important about the value of the coin is its
rich history. The Brasher doubloon has long been a historical mystery. Named
after Ephraim Brasher who was a goldsmith, silversmith, and jeweler, there is little known about
the making of the coin. Brasher minted the coin as one of the first pure gold
coins in circulation, but there is little to no documentation to explain how
the coin emerged. What is known of Ephraim Brasher is little, but what is known
of the doubloon that bears his mark, EB, is even less.
The word “doubloon” often refers to Spanish coins, yet this
gold coin was minted in the United States. In fact, the Brasher doubloon is
fated as the first American-made gold coin. It had a dollar amount and was
intended for use. However, when measured against the fact that the original
mint in Philadelphia didn’t start making coins until 1790, the $7.4 million
sounds like a drop in the hat to the inestimable price of history.
Today’s Gold Value
The mystique behind the coin is enough to give it great
value, not to mention its numismatic value. The significant amount of gold in
which it was forged – 26.66 grams, or about one ounce – certainly adds to the
monetary value of the coin.
Upon minting the coin, the gold value for use was $15, but
by today’s standards the coin would value at more than $15,000. That’s a big
jump in price, which tells you something about the value of gold today.
Rock Solid: Why Isn’t Everyone Selling Diamonds?
Unless you’ve been living under a rock, you probably know that the price of gold and silver have skyrocketed in recent years. You can barely flip on the TV without seeing an ad for selling your gold. And you should. But you should also know that the price of diamonds has gone up drastically since the 1960′s and has seen its biggest increase within the last 10 years.
So let’s say you have a diamond bracelet laying around from your ex, or better yet a diamond ring you never gave back. What do you do with it? Pawning it and consigning it are options, but you run the risk of it not being sold, and not getting what it’s actually worth. Fortunately for you, there’s another option!
Enter Gold-Cash.com, where you can sell diamonds online! It’s fast, easy, and you only have to make one stop. You have two ways to send in your diamonds. You can either request a kit from Gold-Cash.com or simply print a FedEX label from their site. The kit is free and it includes everything you need to send in you diamond items (a jewelry bag, an inventory sheet, and FedEX box.) All you have to do is drop the box off at your local FedEX.
So what kind of diamond items does Gold-Cash.com take?
- Diamond Bracelets
- Diamond Rings
- Large Diamonds
- Diamond watches
- Diamond Jewelry
If you need a little extra cash for the holiday season, or any time of year, consider selling your diamonds. You’ll get the highest paid prices and excellent customer satisfaction when you choose to use the experts at Gold-Cash.com.
Photo courtesy of swamibu on flickr
This is What Selling Silver Looks Like
Have you ever thought it would be tough to gather up all of your silver and sell it? There’s a certain sentimental attachment to our special belongings, especially jewelry. In today’s tough economy though, many of us cannot afford to be overly sentimental or we risk losing just about everything. These days, finding places to sell your silver or gold items are cropping up everywhere. How do you know if you can trust them to give you the best prices for that precious family heirloom? Below are five tips to make sure you’re smiling from ear to ear when you sell silver.
Prospecting for Gold in Your Own Home
The modern gold rush is on and this time the prospectors aren’t finding pay dirt in the hills. They’re finding it in their own homes and safe deposit boxes in the form of jewelry, coins and other items made from gold.
It is now easier than ever to sell gold in Roslyn Heights and Oceanside because the demand for gold jewelry is constantly increasing. People in India, China, the Middle East and other locations overseas are buying large amounts of jewelry made from gold. Jewelers need more of the metal so they’re paying top dollar for it.
Buyers on Long Island are willing to pass those high prices onto anybody that brings in item for sell. Even if the price in the newspaper is falling they may still pay you a good price because they are buying gold for jewelry. This is lower karat gold it won’t fetch the high price offered for commodities gold but it is still worth money.
Help Your Friends Prospect with a Gold Party
The new gold rush can also help your friends and neighbors or your favorite community group or organization in the form of a gold party. Such a party is a buying event where people bring items to sell. An individual or organization hosts the event and provides a place to hold it.
The gold party company provides a buyer and covers all the expenses. Then people bring their items and sell them for cash part of the proceeds go to a good cause or the host. It’s a fun way to raise money for your favorite charity and to help your friends and neighbors in the tough economic times. Instead of embarrassing them with charity you can help them with what they really need: cash for gold.
Most of the items that buyers are looking can be found at these parties. Just tell your friends and family to bring all of their unwanted jewelry, old coins and similar items. The buyer will look at them and if he thinks they’re worth something he’ll make an offer. It is as simple as that, it’s fun and it’s profitable.
Both gold parties and selling directly to buyers are a great way to take advantage of the new gold rush. Any old jewelry or other items that might be made of gold could be worth money regardless of the karats or the condition of the items. To find out what they are worth simply bring them in today.
There are Many Different Ways to Sell Gold these Days
A lot of people don’t like selling gold because they don’t like the idea of dealing with a sleazy shop in a bad neighborhood. They think that they will get ripped off, pay a low price and get treated like trash. Fortunately there are better ways to sell gold in Syosset and every other community around New York City.
There are many excellent family owned stores such as NY Gold Buyers. Unlike the fast cash outlets these chains will give you a good price and they have superior customer service. Some of these buyers will even come to your home or your bank or vault company to look at your gold. They will give you top dollar for both loans and purchases.
They even guarantee that they will pay the top price for many precious metals including gold, silver and platinum. They also buy old watch cases, diamonds, gemstones and other items. If you are not sure about something take it to the buyer or call the buyer. They will examine it at no charge to you and you will be under no obligation to sell.
Gold Parties
Another great way to sell gold and to raise money for yourself or your favorite charity is to host a gold party. At such an event a buyer comes and examines items then offers people cash for them. The host keeps a small percentage of the profits and puts up no money herself. Instead the party company provides the buyer, the cash and the refreshments.
Many people use gold parties to finance charities, community organizations, sports teams, religious organizations and school related activities. Such a party is a great way to buy uniforms for your kid’s team or to help a good cause. It can also help friends, family and neighbors by giving them extra cash to get through these tough economic times.
Precious Metals Today
Prices for precious metals like gold have never been higher but there’s a good a chance the high prices will not last. The price of silver just crashed and the gold price will crash sooner or later. That means you should sell what you have right now before the bottom falls out of the market. That way you can get maximum cash for your items. It is also a good time to pawn gold because many companies are making larger cash loans than ever before.
How To Sell Gold In Forest Hills
This is the best time to trade your gold because gold prices are high. Because of the high prices of gold today, there is also an increase in the number of gold buyers in Forest Hills. Also contributing to the increase in number of gold buyers is the fact that it is easy to join the business these days. With the proper licenses, you can just set up show anywhere you like. You only need to have a license as a pawn broker or as a second-hand dealer to get started in the business.
But while it’s a good time to sell your gold – be it jewelry pieces or coins – there are gold buyers out there who are only out to make fast and easy money on you. Gold is an expensive item, and people will do anything to have a piece of it. Many gold buyers don’t have your interest in their mind. If you want to sell gold , be sure you know where the legitimate gold traders are.
The gold buy-and-sell business is simple and quick. Just go there and sell your piece of gold, get paid and leave. But that’s only when you don’t aim for the highest value for your gold piece. If you want best possible selling price of your gold, invest time and effort, don’t allow yourself to be taken for a ride.
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One golden piece of advice, you should heed is to avoid falling for infomercials that promise to make it easier for you. A tragic mistake many people make is to believe in these infomercials as if they are gospel truths and deal his gold without research into the prevailing prices of gold.
In fact, a piece of jewelry oftentimes carries a value higher than its gold content. A 100-year-old watch, for example, can guarantee you a price that is much higher than its gold content.
To make matters worse, many gold companies will pay you an impossibly low rate of 18 percent to 20 percent of your gold’s real value. While an established, legitimate gold buyer offers a much better rate of 50 percent to 60 percent.
Diamonds Can Also Be Turned Into Cash
Gold isn’t the only thing that’s sitting around in your jewelry box or safety deposit gathering dust that can be turned into cash. Buyers will often pay more for diamonds than they will for gold and they will loan money on it. Most buyers will purchase gemstones including diamonds.
For example NY Gold Buyers will purchase:
- Any sort of jewelry with diamonds mounted on it including rings, necklaces and tennis bracelets.
- Loose diamonds and stones used in the jewelry trade
- Necklaces and gemstones on a chain.
- Broken or damaged jewelry that has diamonds and other gems on it.
- Gems that have fallen off of jewelry
- Other kinds of gemstones including emeralds, rubies and jade.
If you’re not sure if something is a diamond or not take to the buyer. The buyer can examine the item and determine if it is real or not then give you a price. If it’s not real the trip costs you nothing and you are under no obligation to sell if you don’t like the price he or she offers you.
Best of all some buyers will even come to your home or safety deposit box to examine your items so you don’t have to take them out. They should not charge for this service but they will give you cash. To see if you can get this done simply contact a diamond buyer in Merrick.
It is also possible to get cash loans on diamonds most buyers will give you pawn loans on diamonds and other gems. In many cases they will loan more money on gemstones than they will on precious metals. You can get emergency funds by using old jewelry that you no longer wear and family heirlooms. Nor do you have to sell pieces that you want to keep when you need funds.
There is no reason to go without the cash that you need while you own diamonds. Check around house and in your safety deposit boxes to see if you have any. There is no reason to spend money on safe deposit boxes when you’re short of cash. Instead you can sell the items in them and raise extra funds.
It is even possible to send diamonds and other valuables to a buyer via FedEx or UPS that way you can them evaluated and get top dollar for them. Selling valuables is easier and more convenient than ever before.
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Our Promise To You
As a family-owned business that has been in the jewelry industry for over 75 years, we are committed to providing you with an enjoyable, worry-free, hassle-free experience. We are members of the Jewelers Vigilance Committee and are licensed and insured to trade gold. We offer free FedEx shipping, insure every package, and never charge any minimum weight or "refining fees." We open and weigh your jewelry under 24 hour video surveillance, and maintain state-of-the-art scales that are calibrated and certified by the state of New York to ensure you fair and accurate payments. Best of all, we guarantee the absolute highest payout for your gold with the only 110% Highest Prices Paid Guarantee in the industry
- 100% Satisfaction
Guarantee - 110% Price Guarantee
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