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 How to buy and sell Precious Metals?

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mrthought



Number of posts : 111
Registration date : 2011-03-03

PostSubject: How to buy and sell Precious Metals?    Mon Jun 20, 2011 11:38 am

There is a lot of places and companies that purchase precious metals.
These companies are divided into two categories: consumers and financial
Consumers
These include jewellery stores, dental labs and some manufacturing companies.
Financial
These include pawnshops, banks that purchase and sell gold and precious metal and bullion dealers.
Bullion dealers will be more likely to offer you the best price and are financially capable of doing so, since this is their specialization.
-If you intend to sell, visit different places and compare prices from at least 3 differentsources.
-If you are selling over the Internet, be aware of possible shipping charges that could apply and add it to total price before comparing.
Find the dealer with the best price and then, try to do a little background check about them.
See if they are trusted buyers and whether or not they have a good history in the business.
When selling your gold jewellery or precious metals online, be aware of dealers who do not publish their prices.
If they do not show their prices, you do not know how much money you are going to receive until they send you a disappointing check. Only to find out that your gold or precious metal has already been melted when asking for a return.
-Find a reputable dealer with history in the business. Don't be afraid to ask how long they have been in business and who their typical clients are.
-A good dealer should be able to provide you with information on prices, stocks, shipping and handling charges etc..
If you are ready to invest, know that you shouldn't use all your funds at once. The market could change suddenly because of a major event, which would destroy your investment..
Always leave some capital to be able to quickly invest if a huge opportunity occurs at an unexpected time.
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You will need an investment plan
For example:
Find out wether you are going to sell some of your precious metals on strenght and buy some more where prices are low to take long term profits
Or are you going to accumulate gold or precious metals until spot prices hit a certain level then liquidate everything.
There are a lot of other options; you have to find out the one that fits your own needs.
Find what your needs are and THEN set up a solid investment plan based of those.
Patience and analysis



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