How to Sell Gold at High Price

Gold is a great investment in these more than uncertain economic times. The reason being is that gold will maintain a tangible value, regardless of how bad or good the economy is. The problem is when and where to sell gold and cash in on some profits.

Here are few steps that help:
1. The ease of selling gold starts with buying gold. Yes, sounds strange but it is really easy after reading. Purchase gold that is clearly marked with grade and weight. The best way to do this is to purchase coins minted by government mints such as the American Gold Eagles and Gold Maple Leaf. Clearly marked coins lets any potential buyer know exactly what they are getting.

2. Be ready to fight for the best price. There isn't a gold investor unaware of the spot gold price, but most dealers often ignore it when the price is high. Be your best advocate and work the best deal possible. This means education and being armed with knowledge to argue why gold prices will remain high.

3. Sell gold on eBay or other Internet sites. Set up an account and start selling gold online. This can be a tremendous success, but remember the auction system is a pure free market tool and anything can happen, from auction to auction.

4. Build a relationship with a few dealers. Comfort is found in being familiar, so work on relationships with a number of dealers. Building trust will also eliminate the time needed to sell gold and the process of getting the price. Never underestimate the value of time.

Buying Gold on a Budget Part 2

This is the second part of how to buy gold on a budget.

Look for gold that is affordable or at least within a budget. Most of us cannot buy the gold bars we see on television, but we can get our hands on gold coins, specifically American Gold Eagles.

The American Gold Eagle is a great investment and although it is still expensive at around $1,000 per coin, they do offer a viable way of purchasing gold. Finding them is very easy and just a click away. There are a number of them currently on eBay. However, I prefer to buy my coins at a local store or from APMEX.com or Austin Rare Coins.com. I have purchased coins from both and have been very happy with their service and product.

Another common option is the Gold Canadian Maple Leaf. Like the American Gold Eagle, the Maple Leaf is easily found and offers a convenient way of purchasing gold.

If you are interested in historical coins there are many shipwreck recovered coins available. Personally I have never purchased such coins as my knowledge is limited. These coins offer both a historical and tangible option, but they requiring a vast knowledge. It is critical to be well rehearsed in historical coins and the grading system of coins. Other wise, the danger of being "taken" increases.

Gold coins allow the average person to invest in coins, that's why FDR scooped them up. So take advantage, put some money back and get into the world of gold coins.

How to Buy Gold on a Budget: Part I

Okay so everyone is saying buy gold, but show of hands if you have $1,000 sitting around the house for just one troy ounce?

That's what I thought, if you did you would be reading a high priced, subscription site instead of this free one. So, this leaves us with a pressing question; How to Buy Gold on a Budget?

The answer is found in discipline. As Americans we have been trained to become consumers of all things. We buy, eat, drink and consume like an army of red ants. That doesn't have to change when dealing with gold, it just needs to be altered.

First, let's address the impulse buying that haunts so many of us. Instead of grabbing the 32" LCD television, think about it. Downgrade a few hundred dollars and get something smaller. Right there a consumer can save/refocus a few hundred backs. That takes a potential gold investor to almost 1/4 of the way to buying gold.

Now add that to the other impulse items we buy and bingo; there's the money to purchase on American Gold Eagle. Changing from an impulse to a smart consumer is a beneficial and smart move. Look at this way, you are still consuming but instead of a product that will some day be tossed aside, you have consumed an investment.

Secondly, set up a plan to purchase gold at specific intervals through out the year. Target a plan where some form of gold will purchased at X time. Doing this will require discipline, but will allow for a gold portfolio to slowly build.

Buying Gold on a Budget

People always say, I can't afford to invest in gold; that's for the rich folks. The fact is gold is for everyone, but it's true gold is costly. But, not so costly that the average person is blocked out. All it takes is some personal budgeting and proper money handling.

First, itemize your spending. Look at what is going out and what is coming in. Decide if some of the out money can be transferred into a gold fund. By doing this it won't take long to build a money fund capable of buying gold.

Second. most Americans are investors correct? So, if you are fortunate enough to have a few stocks on the upside, roll over some profits and put them into a gold fund. This can also work for a stock over-performing.

Third, buy one American Gold Eagle at a time. The Gold Eagle is a great gold bullion option and is easy to purchase. Yes, it is costly, but worth it.

Lastly, physical gold is not the only option. Get an account at Sharebuilder.com or some other online investment firm and begin investing in a gold ETF. This is a great way to invest in gold, without the high cost of physical gold.

Buying American Gold and Silver Eagles

Gold and silver continue to be a smart play. As the monster of inflation lurks, gold and silver prices remain poised for a big jump. There is an old saying in gold and commodities, sell in May and walk away. But looking at current spot prices, which are down today, they have remained steady. Now does this mean the price will remain steady, no, of course it could.

So what does this mean? Take advantage and use the lower prices to pick up gold and silver bullion, specifically American Gold and Silver Eagles. Admittedly, I have not purchased either recently and the last time I checked the US Mint was not minting Gold Eagles. So the availability may be limited, but looking at a few sites such as APMEX
Gold Eagles can be purchased.

Personally, I love the Silver and Gold Eagle, mostly because their value is found in the bullion of the precious metal, over the trendy collectible coins. The price is set by the price of gold or silver. Yes, a gold coin from 1689 is a wonderful piece of history but it does hold a bullion value. The problem lies in the fact that collectible coins are trendy, which can artificially inflate the price and eventually burst.

I enjoy the safety of the Eagles, paying a lower price, but still getting the value of gold and silver. Use the Gold and Silver Eagles as the foundation and build from there.