Trusted Gold Buyers

Top 3 Tips for Selling Old Gold

Top 3 Tips for Selling Old Gold

There has never been a better time to sell your old gold jewelry and items.  The reason why is simple – gold is valued at an all time, record high of $1,400 per ounce. The economy is also hard, which means that it is more important than ever to pay down credit card debts and any loans you have outstanding to ease the family budget and save as much money as you possibly can.
The question is not why you should sell your old gold, that’s easily answered – of course you should sell it!  The real issues are how do you go about getting the best deal for your items and how do you actually proceed?

Here’s our Top 3 Tips for selling your old gold:

#1 – Know What You Are Selling

When you look to sell your old items, the gold buyer will be paying you for the gold and nothing else.  When you have items such as diamond rings, or any piece which contains other precious jewels or other precious metals, you should arrange for these to be removed.  Use a professional to remove jewels, especially precious stones, because these can be sold on in their own right.  For the average diamond ring, there is probably more value in the diamond than there is in the gold content of the ring.

Maximize your cash return and know what you are selling before you send your items off to the dealer.

#2 – Check Who You Are Dealing With

There are plenty of adverts on the TV, in the newspaper and the internet for people looking to buy your old gold items.  The first thing you should do when deciding who you will do business with is to conduct a due diligence check – in other words, make sure the company is legitimate.
You can do this easily enough – check with the local Better Business Bureau or Chamber of Commerce to see if they are registered or have any complaints against them.  You can also do basic checks in the Whitepages and online, to see if they are a real business and check out any reviews you can find.

#3 – Only Send Your Items through an Insured Courier

Once you have decided on a company to do business with, you need to get your items to them so they can appraise them and come up with a price.  You should only ever deal with a company which is prepared to pay for a fully insured courier to collect your items from you.  If you are asked to pay for this service yourself, then bail out of the deal and do not send your gold – if the company wants gold so badly, they will be prepared to pay for it.

The same applies for having items returned to you: not every dealer will want to buy your items, or they will not offer a price you are prepared to accept.  In the event the deal is not going to go ahead, then you still should expect to have your gold items returned to you at no charge to you.

Tags: Sell Gold, Sell Gold Jewelry, sell gold online

Has the Gold Bull Run Come to an End?

Has the Gold Bull Run Come to an End?

For many people, answering this question has about as much relevance as wondering whether they should consider herding cats as a job!

But for many people, most of us, it has a very direct relevance when we are sitting on a horde of unused and unwanted old jewelry which is gathering dust while we struggle to make a mortgage payment or are in desperate need to pay off some bills and ease the pressure on very tight household budgets.

Gold hit an all-time high of just over $1,000 an ounce late last year and has bounced around the $900-$960 mark for much of 2009.  Looking at a basket of precious metals and there is a definite plateau of pricing levels for platinum, palladium, rhodium and silver.

What on earth has this got for those considering selling their old jewelery?
Simple.  The price is an all-time high and it looks like it has peaked – now is the time to sell because if the recovery signs start appearing the price will drop almost overnight and the fall will be huge.

Let’s look at platinum as an example.

In December 2008, platinum traded at $2,200 an ounce – the $700 billion dollar stimulus plan was announced with the election of President Obama and platinum prices dropped to sub-$1,200 by the end of January 2009 – a 50% drop in 30 days.
That’s how fast the precious metals market reacts to good news.

Now take a look at gold.

The one year spot price for gold has remained fairly stable at the $950 level and doesn’t know which direction to go.  Over 2 years, it has seen excellent growth rising from a $680 level in September 2007 as financial recession started to bite, and over 5 years from $410 and over 10 years from $280 level.

What does all this mean?

Since 1999, gold has risen inexorably and in a fairly smooth growth curve but at the height of the current economic recession, in 2009 the growth has stalled despite breaking through the psychologically important $1,000 mark.
The gold bull run is now over.  Uncertainty reigns and the market does not know what is happening next.

This is the sign to those of you with gold jewelry and items to look to sell at these historically high prices.  The likelihood of holding out for a slight increase in gold prices is now a very risky strategy.  If the current earnings reports continue to turn in on target or better than expected results, then the institutional and professional investors who have been using gold as a safe haven are going to dump their holdings on the market, take their profits and get liquid for the stock and bond market recoveries.

Today the price for gold is around $960 an ounce – tomorrow it could be half that.   Don’t take the risk of losing your profits and make it a priority to get your gold valued and find a buyer today.  Finding a buyer is easy – there are numerous online gold and precious metal buyers who are eager to buy your old gold items and will take care of the shipping and appraisal as well as making a speedy offer and fast payment.

Tags: Sell Gold, Sell Gold Jewelry, Sell Scrap Gold