Investing in gold is a very popular way to protect your savings from inflation. People are continuing to invest in gold to protect their wealth. Find out how to get the best return on your gold investment.

While you may be very tempted to quickly send off your old gold scraps and jewelry to a business that buys gold through the mail, do your homework about the company first. Know when they will send your payment out and get your package insured. Take a snapshot of everything that you send in the mail for security.

If you buy gold for your retirement fund, be sure its the proper kind. Gold as an investment must be designated as approved by the Internal Revenue Service. They require that the gold be coins or bullion bars that are 24 karat. Bars are generally more valuable than coins and should, therefore, be favored.

Be sure the buyer you are considering is licensed by the state to make gold purchases. You could still have a problem, but licensed buyers are more likely reputable. There are many stores and individual buyers looking to purchase gold, so always know you have multiple options, and never just the first deal that comes up.

Buying gold can exciting, but keep that to yourself. You may not know who is overhearing you, or who is trustworthy. Keep it to yourself and protected, either with a decent home safe or in a bank. This ensures that your gold is protected under all circumstances.

Go through thrift shops and antique stores looking for gold. When you know what to look for, you can find a great deal. Usually, you will see donated items of great value because people are unsure of their cost. Their loss can be your gain.

Make sure that you step up to the market with a sound mind and wary eye. There are always a few bad apples in every market, and players in the gold market are no exception. Many people want to keep the money you are owed for themselves. You need to do your research and be careful.

Know what you have when it comes to gold. Not everything that looks like gold is worth its weight in it. Many times, gold is mixed with other metals to increase its strength. The less gold, the less value. Many items are only gold plated. Have an appraisal done on large amounts of jewelry or gold whose value you are uncertain about before selling it.

Look around before deciding on purchasing from a gold buyer. Youd be surprised in the variance of prices youll get offered. If you take the first offer, you might get the worst deal ever! Take a little bit more time at first so youve got the maximum return on your gold investment.

Use a magnet to determine if an item is made of gold. Precious metals, gold included, are not magnetic. Often the clasp of a piece is real gold, while the rest of the piece is just plated. A magnet is an easy way to test.

Carefully read and check the small print in the sales contract. This is especially true if you decide you want to mail your gold off to a buyer. In this way you can determine what percentage of your profits will go toward fees and commissions.

Know what you want before you invest in gold. Gold is a great hedge against economic instability and inflation, but it can be a volatile investment. If you educate yourself on the gold market and have a game plan going in, you have a good chance at being successful.

Be well versed on the buyback policy of the seller. Reselling gold is often done at a premium. Think about the logistics of sending bulky coins or bars of gold to dealers out of state. It is always best to hold on to the gold you purchase yourself to ensure its safety.

If you want a little aesthetic appeal along with your investment value, investing in quality, high-karat gold jewelry may be the best investment approach for you. This investment can also be used as a fashion accessory. Because the care and skill involved in crafting high-end pieces adds considerably to the value of the metal itself, gold jewelry often offers you excellent value for your money.

When economic downturn struck worldwide recently, gold was one of few commodities that continued to trade positively. With the right information at hand it is possible for individuals of all economic strata to use gold as an effective safe harbor for their financial resources. It is our sincere hope that you have been able to glean useful information from this article.