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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