Knowing a good investment strategy is critical before entering the marketplace of gold. Investing is safer when you diversify and gold can be a part of that. However, do you know where to begin in the gold market? There are lots of options and it can be hard to decide. Read this article to learn more about investing in gold.

If you have a nice gold piece, consider selling it privately rather than through a gold purchasing agency or jewelry store. Many companies that are in business to buy gold will only buy it to melt and sell, meaning they will pay only for the weight of the gold. An individual who likes your piece might be willing to pay a higher price tag, because they are likely to keep and enjoy the piece.

Never overlook gold scraps. If you happen to have small pieces of gold sitting around, keep them together to sell at a future time. This can be scraps from an old pair of earrings or any other piece of jewelry. Even a few ounces can be some serious cash back in your pocket.

When you go to sell your gold, make sure your expectations are not too high and bring your government-issued identification. On average, gold dealers pay between 70 and 80 percent of the actual value. The law requires that dealers ask sellers for identification when buying gold to aid police in their investigations about stolen property.

If a deal seems too good to be true, then it probably is. Be leery of people who are selling their gold for way below the going rate. Chances are probably good that it is gold plated or brass. Even if it is stamped, it is always best to have it tested before you buy it.

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.

Regardless of where you are selling your gold, you will be asked for your drivers license or some other form of identification. Make sure you have it on you when you go to make the transaction. If you are preparing to sell and you dont get asked for your ID, that should raise a big red flag.

When buying gold jewelry as a gift, make sure that the return policy is sound. You cant be sure of another persons preferences; they may not care for it. Because this isnt rare, its crucial that you have the ability to return the jewelry for a refund if its necessary.

As you learn more about investment strategies, it becomes easier to make decisions with profitable outcomes. This piece has provided assistance, and you ought to be prepared to make your move. Remember the advice shared, and use it to help you move in the proper direction.