Historically speaking, gold has always been something of a universal indicator and measure of wealth. The economic downturn of recent days has generate renewed interest in gold as a solid investment vehicle among individuals of all financial backgrounds. The piece that follows below is meant to help you learn how buying and selling gold can benefit you.

Beware of buying or selling gold from any mobile offices or cold-call solicitations. These businesses are set up in temporary locations that include inns and motels. They claim to offer instant cash for silver and gold pieces, especially coins. They enjoy taking pieces to make a profit for unfair or no compensation.

Steer clear of any act now offers. The gold industry is filled with less than reputable types that want you to take immediate action. Why? Because typically, theyll get the better end of the deal because you didnt read through the fine print. Instead, walk away from these types of deals and be patient in how you approach the market.

Check out current market values before you ever sell any jewelry. You can then discern whether you are getting the right price for your jewelry pieces. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.

If you are going to a store to sell your gold, make sure you research the shop on the Better Business Bureaus website. You will be able to see what type of experience other consumers had, and you can determine whether or not the company was responsive to customer complaints.

If you are thinking about becoming a buyer or seller of gold, make sure you are legal! In the United States, you must have a license to purchase, sell or trade gold in any quantities on a regular basis. Check with your city or town about how to become licensed, and then enjoy your new entitlement to dealing in gold.

You can use a magnet to test precious metal inexpensively. Gold and other precious metals are non-ferrous, so they wont be attracted to a magnet. Sometimes a jewelry piece is only plated in gold with a solid gold clasp. The magnet will tell you the truth.

Watch out for the gold buying bait and switch. There are buyers out there that promote the price theyll pay for bulk gold, but dont tell you that the price is much more for smaller quantities. This can leave you making a very bad deal. Ask before you make any sort of commitment.

Research the market ahead of investing. Some individuals pretend to market experts but who are in fact just trying to dupe you into investing through them. However, you have to be aware of unfounded promises regarding quick riches. Avoid the thought of gold as a get-rich-quick scheme, and you will not be led into false expectations.

Gold has long been prized for its ability to serve as a stable, known repository of personal wealth. With curiosity in gold markets reaching fever pitch in recent years, it really does pay to possess a good amount of knowledge on the topic. Use the information presented above and get the most value from your own foray into the market for gold.