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The How To Guide For Turning Your Unwanted Scrap Gold Into Cash

The “How To” Guide For Turning Your Unwanted Scrap Gold Into Cash

Selling your scrap gold may be easier than you think. Most pawnshops and jewelry dealers will refuse to buy such items since they are difficult to sell to their customers. But suppose you have collected a small box of scrap gold, and would like to convert it into cash. What are your options?

An increasing number of people are discovering they can sell these items to an online buyer. Online companies that purchase scrap gold are less concerned about the aesthetic appeal of the pieces, and more interested in their precious metal content. The key is finding a buyer you can trust. There are hundreds, even thousands, of gold buyers online, and not all of them are worth contacting.

To save you time, and ensure you enjoy the experience of selling your scrap gold, we’ll provide a how-to guide for doing so online. The following will all but guarantee you will receive a competitive offer, and a quick check in the mail.

Assess The Value Of Your Gold Items

Don’t neglect this step. Too many people sell their gold jewelry and scrap gold online without taking the time to determine the value of their collections. This is an expensive mistake. There are many buyers who hope sellers are unaware of the true value of their pieces. This gives them a chance to make a “low-ball” offer.

Find out how much your gold necklaces, earrings, dental work, and other pieces are worth, according to the current spot price per ounce. That way, you’ll know whether an offer is reasonable.

“Investigate” The Buyer

This is a matter of conducting due diligence before selling your scrap gold to a buyer with whom you have never worked. Explore their website; look for a phone number, and call it; find out how long they have been in business; and look for signs they offer insurance to protect your items while they are in transit via the mail. Also, check whether the buyer’s website clearly explains the process of selling your gold. They should explain the steps involved, and detail how soon you can expect your check to be placed in the mail.

Don’t simply assume every buyer is reputable. Many are not, and prey upon those who are unsuspecting.

Mail Your Gold Items

Once you have identified a trustworthy buyer, ask them to send you a postage-paid kit in which you can mail your pieces to them. When you receive the kit, fill out an inventory form that includes a detailed list of each item you are including in the package. Print a copy for your records, and include a copy in the kit.

Many buyers will also let you create an account through their websites. This is an important benefit since buyers can communicate their offers almost immediately following their assessment of your scrap gold’s value.

Accept Or Decline The Buyer’s Offer

The buyer will carefully evaluate each gold item you include in the mailing kit. They will examine the individual hallmarks, and weigh each piece to determine its value according to the current market rate. While all gold buyers use a different process, the most reputable will perform their analysis under security cameras to ensure the safety of your gold jewelry and scrap gold items. Then, they will make a formal offer via email.

If you decline the buyer’s offer, they will repackage your gold pieces, and promptly return them to you. If, on the other hand, you accept their offer, they will mail a check to you. The best buyers will normally do so within a single business day.

Millions of people have useless, broken, or otherwise unwanted scrap gold pieces sitting in their homes. Given that the current price per ounce has recently climbed to historic levels, now may be the time to sell. Follow the guide above to make sure you receive a fair, competitive offer.

Tags: Gold, How to Sell Gold, How to Sell Scrap Gold, Sell Gold

Gold Soaring Price Makes Now the Time to Sell

Gold Soaring Price Makes Now the Time to Sell

Gold is riding at an all-time high due to the state of the world’s economy.  Governments at home and abroad, rush to buy gold bullion to shore up the value of their currency and demonstrate stability and faith in their home economies to continue to encourage international trade and inward investment as well as controlling confidence and inflation at home.

The technicalities of the economics behind why gold prices increase when the rest of the economy takes a dive is not important; what is important is that this is how gold prices behave and right now, the price is as high as it has ever been.
While the economy is as dire as it has been, people are struggling to make payments, reduce their credit cards, looking to find the extra money to pay for a vacation, repair the car, maintain the house or simply meet every day bills.

So what you have is a combination of two factors – the very high price of gold combined with the desperate need to raise extra cash.  This makes it the right time not just to consider selling your old jewelry and unused gold items, but to actually do your research and sell the pieces for cold, hard cash now!
There are some tips to follow when selling your old gold, and remember that all the adverts you see glistening with “top dollar” offers may not necessarily be gold!

Deal with Refiners not Middlemen

Refiners will actually melt the gold down and refine it to produce pure gold in bullion form.  The ingots will then be sold on for use in making more jewelry, in industry, in medicine or simply to be bought as a bullion investment.

Middlemen include jewelers, pawn brokers and many of the companies behind the advertizing you see in the newspapers, on TV and on the internet.  The middlemen will simply pay you a reduced price and sell on to the refiners themselves which means you end up with a lower price as they take a cut.

Gems Not Included

Make sure you remove all the precious stones from the pieces you are looking to sell.  The price you will be offered will be for the gold, not the diamonds or precious stones in your old ring for instance.
You can always find other sources to buy your precious stones, particularly jewelers who make their own pieces.  This way you will maximize the full value from your old jewelry.

A Reputable Company Will Be Fast

Giving gold to a stranger is like giving them your cash!  You must ensure you are dealing with a reputable company, because this is where you will get paid fast, get paid a fair price and receive the best and lest-stressful service.

Reputable companies will prominently display the price of gold, either on their website or by letting you call them and asking for the “spot price”.  They will also have in place an efficient system to collect your gold pieces, using an insured courier (they will pay for it, not you).  They will appraise the gold items you send them within a set period of time, typically giving you a firm offer within 72 hours, which if you accept, will result in a check or bank transfer to you within a week.
If you have any questions, they should be promptly and fully answered, and for this to happen, they should have clearly noted means of contact by telephone and frequently using email.

Tags: Gold, Gold Buyer, Sell Gold

Gold Rockets to $1,380 an Ounce While Chilean Gold Miners are Freed

Gold Rockets to $1,380 an Ounce While Chilean Gold Miners are Freed

Gold has been floating around all-time high levels for over a year now, but after languishing around the $1,000 mark for the best part of a year, it has suddenly found new impetus as the dollar continues to weaken.  At the same time, the Chilean miners trapped underground for over two months have been freed from their subterranean tomb, but what many do not realize is that they mining for gold!

Gold has always been valued by man, from ancient kings, pharaohs and clan chiefs through to religious leaders.  For the most part, gold’s principal use was in decoration, particularly making jewelry items for the wealthy.  Gold achieved new significance when it was used in the making of coinage, and the value of a coin was not in the promise on the coin but the gold content of the metal itself.
Effectively, gold coinage was the economic support for the currency itself, and this remained long after paper money was introduced (there is no intrinsic value in a dollar bill, it is simply specially treated paper-like cloth).  Today, gold has been decoupled from our currency but this does not mean that governments around the world have stopped buying gold to support their economies; far from it.  India and china have been buying huge amounts of gold because of the massive surpluses they have been running with their economies, and around the world, how much gold a government possesses or controls still has a direct bearing on the value of the currency they issue.

Typically, gold dramatically increases in value when economic times are hard.  The reasoning is simple enough; when the stock markets are crashing and banks are failing, what do you do with your money?  You invest it in gold because no matter what happens to the economy or to the bank, you will still own the valuable metal.  The problem is that when the economy tanks, the big investors and governments around the world look to buy gold in increasing quantities and that means the price rises dramatically.
This is why gold has reached such a very high price, but you need to be very careful.  The price of gold will plummet as soon as any positive economic signs return – as soon as the stock markets start to rally, then investors will look to dump their gold holdings and move back into stocks and shares.  This will increase the supply of gold on the market and the price will drop just as readily as it has risen.

This is why now is a great time to sell your old gold items which you no longer have a use for.  While the price of gold is so high, you are assured of getting top dollar for your unwanted items.  Also, for many people, with hard economic times there comes a need to find extra money to help tight budgets.  Paying down debt and credit cards, keeping savings intact, or simply meeting every day bills in the face of job insecurity means that the cash you have invested in your old gold items has a much better use than simply gathering dust somewhere at home.

Tags: Gold, Gold Miners, Sell Gold