Trusted Gold and Silver Buyers

The Compelling Case For Selling Your Gold Jewelry Online

The Compelling Case For Selling Your Gold Jewelry Online

Most of us have old gold jewelry locked in storage or tucked away in forgotten corners. There it sits, collecting dust while the price per troy ounce of gold has vaulted to historic levels. Now is the time to consider retrieving your gold bracelets, necklaces, brooches, and even your high school ring. If you’re not wearing them, are they serving a purpose? Are they adding value to your life? If not, you can sell these items online quickly and easily while locking in a high price.

Suppose you feel an attachment to some of your old jewelry items. For example, maybe a wedding ring holds fond memories even though you’re no longer married; perhaps a bracelet was given to you by someone with whom you haven’t spoken in years; or maybe you inherited several pieces, and are uncertain what to do with them. By selling them online, you’ll have an opportunity to start fresh.

Below, we’ll offer four additional reasons that make a compelling case for selling your gold chains, earrings, and even past dental work, online.

#1 – Your Jewelry Is In Disrepair

Damaged watches have outlived their usefulness; a single earring missing its match cannot be worn; twisted chains, bent rings, and broken pendants are similarly useless unless you have them repaired. Unfortunately, repair work is expensive depending on the craftsmanship of the piece and the gold’s softness.

Sell such pieces to an online buyer. The buyer is interested primarily in the gold content rather than each individual piece’s craftsmanship.

#2 – Invest The Money Elsewhere

The stock market has been bouncing up and down over the last twelve months. Even money market funds have seen their share of volatility. With volatility comes opportunity if you’re able to invest at the bottom of a price trend. By contrast, consider the price of gold. Recently, it climbed over $1,260 only to pull back to $1,158. Is there still upside? Many experts consider it a gamble. For this reason, holding onto your gold jewelry may be a risky decision.

#3 – Make A Down Payment On A Home

The real estate market remains sluggish, and there are a lot of bargains across the country. Many homes have lost as much as 50% of their value. This has opened a unique opportunity for those with available funds to purchase a home. The prerequisite? A down payment.

Consider selling your gold rings, chains, and other jewelry to raise the necessary funds. You may find your dust-covered gold items provide an unexpected vehicle to purchasing your first home.

#4 – Raise Needed Funds For An Emergency

When an emergency strikes, funds are often unavailable. For example, your car may need extensive repairs; your son or daughter might require minor surgery; you may need to purchase a new refrigerator, washing machine, or air conditioner. Rather than liquidating your investments or using your credit cards, sell your old jewelry to raise funds.

Your pieces do not need to be made of solid gold in order for a buyer to be interested. As long as they have significant gold content, you can sell them.

Finding A Reputable Buyer Who Will Treat You Fairly

Once you have made the decision to convert your jewelry and scrap gold into cash, you’ll need to find a trustworthy buyer. One of the most important tips to remember is to always work with a refiner. Most buyers are brokers rather than refiners. They are middlemen. While they serve a purpose, they reduce the profit you’ll receive when selling your items. Fortunately, you can bypass them and work directly with a refiner, and thus receive a higher price for your pieces.

It’s impossible to tell where the price of gold will be heading in the near future. The recent pullback is a good reminder that high prices can plummet at any time. Now may be a good opportunity to lock in the current price.

Tags: Sell Gold, Sell Jewelry

How To Identify Potential Cash For Gold Scams

How To Identify Potential Cash For Gold Scams

Two circumstances have given rise to a number of “cash for gold” scams. First, the economy has slowed. Millions of people have lost their jobs, and millions more are barely making ends meet. Bills are piling up. As a result, they are more motivated than ever to earn extra funds. One of quickest and easiest ways to do that is to turn their old jewelry and scrap gold into cash.

The second circumstance involves the recent price of gold. Though the price per troy ounce has pulled back slightly, it recently hit a historic high. This has encouraged people to dig through their dresser drawers and garages, looking for broken gold chains, watches, earrings, and other pieces they own, but no longer wear.

The economy and the recent high price of gold have dovetailed to produce throngs of people who are interested in selling their gold items online. The problem is, these same circumstances have given birth to countless scams. Many will simply disappear after you mail your pieces to them for evaluation.

We’ll help you avoid these unsavory “buyers” below. The following tips will help you identify potential frauds before you take the first step.

Shipping, Insurance, And Tracking Numbers

A trustworthy, reliable buyer will be willing to pay the shipping costs associated with mailing your items to them. Some will even provide a postage-paid mailing kit to make the process as smooth as possible for you. If you’re working with a potential buyer that is unwilling to pay for shipping, think twice before sending your gold bracelets, pendants, and other jewelry.

Likewise, reputable buyers will offer to insure the items you send to them. Even if they’re only offering $100 or $200 of coverage, it is a sign of trust and reliability. You’ll find that many companies will offer more. Avoid those that offer none.

You’ll also want to have a way to track your items once you ship them. Ask the buyer for a tracking number. Without one, you’ll have no way to know the location of your package, or whether you’ll see your pieces again. If the buyer has provided a postage-paid mailing kit, the kit should already include a tracking number.

Ideally, you should also be able to create a personal account on the buyer’s website to support clear communication throughout the selling process. Fraudulent buyers will not provide this feature.

Does The Price Make Sense?

Don’t be tempted by prices that seem artificially high. This is a common tactic used by “cash for gold” scams in order to lure potential sellers. For example, if the spot price per troy ounce is currently $1,200, these unsavory outfits might offer $1,150. This is an indication the buyer is untrustworthy.

Realize that gold buyers need to make a profit in order to sustain their businesses. Most of them sell the gold items they buy to refiners or other dealers. They need a large margin (much larger than $50 an ounce) to make their business model viable.

Always ask yourself: does the price I’m being offered for my gold jewelery and scrap gold make sense given the current price per troy ounce? If not, avoid the buyer.

Who Can You Trust?

To be sure, if you have never sold gold online, your first transaction will represent a step of faith. Until you work with a trustworthy buyer, there’s no way to be certain you’ll be treated fairly. That said, you can improve your chances of enjoying a smooth, rewarding transaction by following a few guidelines.

First, determine how much your gold pieces are worth based on current market prices. Second, work directly with a refiner rather than a broker; doing so eliminates the middleman and increases your profit. Third, trust experience. If a company has only been in the gold-buying business for a few years, be wary. By contrast, there are a few refiners who have decades of experience to offer. Fourth, call the buyer. Most reputable companies will list a phone number on their website.

Once you work with an honest, dependable buyer for the first time, you’ll be able to sell your gold pieces in the future with confidence. The suggestions above will prove invaluable for taking that critical, first step.

Tags: Cash For Gold, Sell Gold

Several Questions About Selling Gold To An Online Gold Buyer

Several Questions About Selling Gold To An Online Gold Buyerr

Suppose you own several pieces of gold jewelry that you no longer wear. Broken bracelets litter the bottom of your dresser drawer; old class rings from high school are packed in a storage box in your garage; an engagement ring from a broken promise made a generation ago is nestled in a small box, carrying memories that are best forgotten.

These pieces of gold jewelry are lying around, collecting dust. They serve no useful purpose other than to remind you of the past. What if you could sell these items to an online buyer for a competitive price that exceeds that which you would receive from a local pawnshop?

Selling gold online has become explosively popular over the last two years. The price per troy ounce has hit historic highs, motivating thousands of people to look for old, broken jewelry tucked away in storage. Necklaces, pendants, earrings, and even gold fillings and other dental work can be easily sold online for cash. We’ll help you get started in the right direction by answering a few common questions about selling your gold to an online buyer.

Is It Safe To Sell Gold Online?

This depends entirely on the company to whom you’re sending your items. There has been a stunning influx of new buyers in the gold market as prices have soared. In fact, you may have seen recent television commercials encouraging people to sell their scrap gold.

The problem is, many of these buyers are unethical. Some will wait a week and a half before sending the check they had promised to you. Others will claim they never received your package of gold pieces in the first place.

Working with a trustworthy buyer guarantees the safety of your gold belongings. They’ll offer insurance on the package you send them; they’ll allow you to track the entire process through their website; if you accept their offer, they’ll mail a check to you within one business day.

How Much Will I Receive For My Scrap Gold?

The amount you’ll receive will depend on the karatage of your items, the volume of gold you have to sell, and the buyer. The karatage of your gold pieces is a numeric measure of the purity of the gold in each piece. 24 karats is considered pure. 18 karats is 75% pure. 14 karats is 58.53% pure. And so forth. The higher the purity, the higher the value.

Volume is self-explanatory. The more gold content you have to sell, the more money you’ll receive.

Choosing a buyer who will offer a higher price confuses a lot of would-be sellers. Most people make the mistake of thinking all buyers are the same. In reality, there’s a huge difference. Some buyers are dealers who serve as middlemen. They’re essentially brokers who buy your gold jewelry for a low price and sell it to a refiner for a higher price. Refiners also buy gold directly, but few people realize they offer higher prices. Bottom line: work with a refiner to receive the best offer.

What Types Of Gold Pieces Can I Sell?

Anything you own with gold content can be recycled by a refiner. That means they’ll buy those items. This might include earrings, gold coins, wedding rings, eyeglasses, and even dental crowns. You can sell your cufflinks, bracelets, and wristwatches.

If you’re unsure whether a particular item can be sold, ask yourself whether it contains any gold content. If it does, a refiner will buy it.

How Can I Tell If A Buyer Is Reputable?

Experience is a good barometer of trustworthiness. A refiner who has been in the business of buying and smelting gold for twenty years or more has a hard-earned reputation in the field. By contrast, the majority of buyers in the market are new. They lack a reputation, so selling to them involves taking a significant risk.

Also, be wary of any buyer who offers less than 50% of the market price for your gold items. Refiners will usually offer much more.

If you have broken gold chains, bracelets, and other pieces of jewelry gathering dust, consider selling them to an online refiner. Those who have a long history in the industry take their businesses seriously. They’ll do everything possible to ensure the transaction is a pleasant experience for you.

Tags: Buy Gold, Cash For Gold, Money For Gold, Sell Gold