Trusted Gold Buyers

How To Sell Your Gold While Avoiding The Frauds

How To Sell Your Gold While Avoiding The Frauds

Everyone can use a little extra money. Whether for unexpected car repairs, a large medical bill, or to buy clothes for a job interview, financial stress is more common than most people realize. This fact has never been more true than today. Over the last two years, millions of people have lost their jobs and their incomes. Meanwhile, their bills continue to pile up. Many of these people are discovering they have gold coins, bracelets, necklaces, and other forgotten pieces in their dresser drawers. These items can be sold quickly for much-needed cash.

The problem is, the current economic situation has created a large industry of gold buyers. Some are reputable while others are not. If you’re unwary, you may find yourself on the receiving end of a swindle. In this article, we’ll provide a quick blueprint for selling your gold coins, jewelry, and other items while avoiding being defrauded.

Do Your Due Diligence

Unfortunately, it takes very little time or effort to make a professional-looking website. Many buyers have done so and run their entire gold-buying business out of a spare room in their apartment. Invest the time to research the company to which you’re thinking about selling your gold.

Visit their website and look for a physical mailing address. Look for a phone number so you can personally speak with someone. Do they offer an easy-to-use kit in which you can send your coins, jewelry, and other items? Look at the price the buyer is offering. Is it less than half the current market price? If so, you’re dealing with a middleman. That means you will be leaving a lot of money on the table.

Avoid Getting Locked In

There are many buyers who have posted agreements on their websites committing you to sell your gold to them once you mail it. A reputable buyer will always make a quote based on current market prices and allow you to make the final decision. If you decline their offer, they’ll mail your items back to you. If you accept, they’ll cut a check and send it to you within one or two business days. Read the terms and conditions of the buyer’s agreement.

History Matters

As noted, the current economy has triggered a surge of new gold buyers. Many of them are merely brokers. They’ll offer a low price for your pieces, hoping you’ll accept it due to ignorance or desperation. Then, they’ll send your gold to a true refiner for a profit. A telltale sign is a lack of history in the business. Try to work with a company that has been in the buying and refining business for years. That is often a good sign of a trustworthy buyer.

With historically high gold prices and millions of people in dire financial straits, there is no shortage of buyers for your gold jewelry, coins, and even fillings. Be wary. Do your due diligence, carefully read all agreements, and look for a long history in the business.

Tags: Gold, Sell Gold, Selling Gold

Tips for Selling Old Gold Jewelry

Tips for Selling Old Gold Jewelry

Selling old gold and jewelry is very attractive at the moment because of the exceptionally high prices being paid for gold. The last couple of years has seen an inexorable rise in the price of gold on the markets because of the economic crisis. The reason why gold prices rise in bad economic times is because institutions and governments put their money into gold rather than the stocks and bond market until thing stabilize.

This answers the first question many sellers have – is now a good time to sell?

The answer has got to be yes because the recovery has started and once this takes hold, the price of gold can expect to fall again as demand tapers off. The smart money will no longer be buying gold but investing back into the stock markets instead.

Another question sellers should ask is whether it is only gold which they can sell?

The answer is no – there are buyers for all sorts of precious metals used in making jewelry; platinum and silver are two common metals which are bought by refiners but you should always check before you agree to a deal exactly what you are being paid for and what is being bought. For instance, diamonds are frequently not included in a quote for your jewelry pieces so make sure you remove all precious stones from jewelry before you send them off. You can always sell these stones elsewhere and they are very valuable too so be sure to take a little extra time and maximize the return on your investment.

A further tip is to shortlist gold refiners and avoid jewelers or other middlemen. Refiners are the operations who will actually melt the gold pieces down into component metals and produce pure gold bars (known as ingots) for the market. As they are the producers of the new gold, there is no middleman taking a percentage or profit out of the price being offered to you, so you are more likely going to get top dollar from them.

Selling your old pieces ought to be simple and easy to do, with a secure and insured courier collecting your jewelry and a very rapid response form the company you choose to do business with. You ought to have a quote or offer to buy the jewelry within a couple of days and if you agree, have the check in your bank account within a week to ten days.

Tags: Gold Selling Tips, How to Sell Gold, Selling Gold

Selling Gold Basics

Selling Gold Basics

Now is a good time to think about getting rid of all that old gold jewelry that you have lying around gathering dust in your jewelry box. Gold prices usually rise when the economy is in a decline. Gold prices have risen over 70% in the last two years and are still at an all time high. Gold is recyclable so that means you can make a little extra cash and also be helping the environment.

Gold is recyclable and has been recycled since ancient times. Once gold is mined and taken out of the ground it never goes back; it can be used over and over again. Most people are not aware that there is money to be made in selling scrap gold. Since the price of gold has risen you can sell your scrap gold and make a profit.

There are many reputable online companies that will give you top dollar for your unwanted gold jewelry. Things that can be turned in for money include; broken jewelry, tangled jewelry, broken and unwanted gold scrap and any other type of gold jewelry. You don’t have to worry about the condition of the jewelry. You will not get the face value of the item, but you will get the gold value minus a small percent from the dealer who is buying your jewelry. Selling your scrap gold is an easy way to get rid of jewelry that is just lying around and make some money in return.

There are plenty of buyers for scrap gold and you will have a wide choice to choose from. The reputable dealers will send you a complete package containing everything you need to sell your scrap gold. Usually the items included are a prepaid envelope and some type of forms to fill out describing the items you are sending and other various details.

You fill out the provided forms and enclose the items you are sending and mail it off. It is wise to make sure that you make a copy of the forms you fill out. You should also take a photo of the items you are sending in just in case there is a question or problem later on. The envelope is usually covered by insurance up to a certain amount by the company you are selling your scrap gold to. You can find out all of the details on the company’s website. If what you are sending is more than the insurance covers you can make arrangements with the dealer on how you should send the items.

The amount you will receive will vary depending on the price of gold when the dealer receives the items less the dealers handling fee. The price you receive will not be the retail price. It will be the value of the gold by weight and quantity only.

After the dealer has made an assessment, they will notify you of the amount they will pay. You can either accept or decline their offer. Selling scrap gold is an easy way to get rid of things you will never use and make a little spare cash at the same time.

Tags: Scrap Gold, Sell Gold, Selling Gold