Whether you’re hoping to invest in gold or looking to make a profit, you have a lot of research to do. The value of gold fluctuates daily, and you may find your rare coins worth far more tomorrow than they are today. To understand the fickle nature of the gold market, read the following guide to buying and selling gold.

Consider These Factors Before Buying or Selling Gold

1. You Need a Reliable Dealer

If you aren’t experienced with buying and selling gold, you should be wary about getting scammed. Don’t risk transactions with individuals who lack accreditation. Go to a pawn shop or coin dealer with a high rating with the Better Business Bureau®. Businesses with a good standing will be much more dependable when it comes to determining value.

2. You Should Keep Track of Demand

You shouldn’t sell gold without checking on its current value. Check back daily to determine how well your gold pieces are doing using websites that update continuously, and only sell if your piece appears to be at its peak. It’s also a good idea to look into the current value of the dollar. Following a drop in currency value is the best time to sell gold.

3. Types of Gold Vary in Value

Gold bars are the easiest form of investment, and bullion coins are the most affordable and widely available. These pieces aren’t the only options, however. Gold certificates, ETFs, and stocks are great investment options that don’t require you to store gold at home or in the bank. While researching value, be sure to look specifically into the type of gold you own.

4. Gold Has Symbolic Value

As with many commodities, the value of gold is not necessarily in its intrinsic worth, but in how much consumers desire it. It has long been a symbol of status and wealth, and it remains to be seen as such for the foreseeable future. Its demand, however, will always fluctuate. From market trends to inflation, many factors can alter how comfortable people feel about investing in gold.

For over 35 years, Coins & Stuff has made its name as High Point, NC’s leading coin dealer and pawn shop. Buying and selling gold has never been easier. With a reputation for honesty, quality, and expertise, these pawnbrokers are the top stop for all gold and silver dealings. To inquire about their full list of services, visit their website or call (336) 885-5323.