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How To Make Money With Gold

Updated on April 22, 2013
Pretty much any type of gold object is worth a lot.
Pretty much any type of gold object is worth a lot.
As you see here the price of gold is going up.
As you see here the price of gold is going up.

The Value Of Gold Is Rising

With today's growing economy or possible debt or anything else related to the economy the value of gold has become a very important part of the economy.

Gold is very valuable, and almost everyone knows it's value.

The US Dollar or currency may not be as valuable later on, but gold sure will.

It is always a good idea to invest in gold because it's almost never a loss.

Currently the value of gold has dropped a bit and is most likely going to raise back soon.

Most people take advantage of this and buy as much gold as they can for a cheap price.

Like I said gold is never going to lose it's value and the more you have it the more you can make off of it when selling.

Silver is also getting expensive, but not as much as gold.

Spending a few hundred or thousand dollars in gold can double your investment later on.

So in this article I will go over the main points on gold investment.

Usually how a bar of gram looks like.
Usually how a bar of gram looks like.

Invest By Weight

Like they say, "the more the merrier." Same goes for gold the more you have it the better.

When you are going to invest in gold invest in it according to the weight of the bar or coin.

See some seller try and trick you by overcharging you for gold and it's not even that much. For example a gram is not worth as much as an ounce an ounce is not worth as much as a kilo etc.

When investing in gold be careful and check how much gold you are getting before you buy it.

Of course this usually isn't a problem but people always run across that one seller who is scamming.

The more you invest in higher weight the more money you will end up making, but at the same time the more you have to pay too.

This all comes down to your budget how much you're willing to spend.

Buying & Selling Gold

Buying gold can be easy, but selling can be tricky. One thing to not do when you are selling gold is sell it at the pawn shop.

They will rip you off and pay you maybe half of what you paid.

Well, I guess it kind of depends on the one you go to some might pay a little more, but most don't.

The best thing to do is sell it to a good jewelry shop or even better sell it online.

Online is where people make the most money, since so many people see what you're selling.

Go to Ebay and either put the gold item on buy it now, or bidding.

Bidding is the way to go if you want the price to go up, because most of the time it does.

When buying gold always buy from a trusted source. Ebay, Amazon etc. are good sites to check, because their policy is strict if something is wrong.

Gold is becoming more and more hot and finding one online is starting to get harder and harder because of all the demand.

So if you see a good piece for a fair and are looking to invest in gold it's a good idea to get it.

Keep It safe

The only main problem to buying and selling gold is to not show it off that much. I mean some people like to brag and stuff that they have gold, but also beware gold is the most sought out thing out there and people will rob you to get it. Be careful how you keep and display gold. Don't show off to much because like I said gold is extremely valuable and people love to take it. Be sure to buy it from a trustworthy source as well don't just buy it from someone on the streets because more likely if it's stolen and you have it your the one getting the heat. Most people keep their gold in safes at the bank I personally think that's a good idea get a little box at the bank and keep it there.

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    • traderjim profile image

      traderjim 4 years ago

      I agree on many of the things you wrote and I've written something interesting too, about this topic.

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