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Because gold is over $900 an ounce again many are considering once again to sell off their scrap gold for cash. They are drawn in by the commercials that everyone has seen by now on TV offering a big lump sum of cash for you gold. But in reality, it is not possible to get full value for your gold and many companies won't even offer close to retail value. This is due to many reasons but one of the main reasons is that many people do not even know how much their gold is worth. In the following article I will explain how you can find out the value of you gold and how you can sell your scrap gold safely and easily.
Before you do anything you need to understand a few key points that will allow you to sell your gold without getting ripped off. Some of the best advice that I can give to you is to make sure that you research the companies that you will be dealing with. You have to do this if you want any chance at working with a legitimate refiner that will actually give you top dollar for your gold.
When looking into a company you should always see how long they have been in business. Ten years or more is a good sign since companies that have been in business for many years have a reputation to uphold. Also check and see if they have any complaints against them at the BBB's (Better Business Bureau) website while you're at it.
The next vital step is to find the companies website and check out their buying gold policies and how much they pay. Find out their address while your there and check to make sure that it actually exists. You want the company to own their own refinery and not just be a middleman gold dealer.
Look for a telephone number for the company and call them with any questions you might have. Check their customer service and how they treat you but make sure not to give into any pre-sale pressure they might put on you. This is the perfect time to see what they might offer you for your gold.
One of the most important things you have to know is what your gold is actually worth. The price changes every day so you will have to find a financial site that lists the current spot price of gold like CNN money. The formula for figuring out how much different karat's of gold is worth can be found all over the internet and there are even some calculator's available.
After finding your company and your gold's value, the next step is to find out what they will offer you. Some times you can get an offer over the phone but most of the time you will have to actually send in your gold first. This is because they have to check the karats and weight of your items before you can get an accurate price.
Ninety percent of the actual value is a good selling price for you if you can manage to find a refiner that offers a price as good as that. Really anything above eighty percent is a decent offer and you should take it if you don't find any higher than that.
Try to avoid any companies that do not refine their own gold because companies that are middle men have to buy at a lower price to be able to resell at a profit. This is also another way to avoid scammers. Most scammers do not have a refinery themselves but sell to someone else. This is also the only way to get top dollar for your gold.
Finally, make sure your gold is insured while in transit to the company and that they return it insured, if their quote is not accepted by you. If you do not buy insurance you can lose everything either by accident or by purposeful fraud. It's worth it to spend the extra couple bucks to make sure that everything goes as planned rather than be out hundreds if your gold scrap goes missing.
Follow this advice and you will be well on your way to selling scrap gold safely and easily. Just make sure that you do your due diligence and research thoroughly and you can avoid getting ripped off by one of the many con artists out there.
Before you do anything you need to understand a few key points that will allow you to sell your gold without getting ripped off. Some of the best advice that I can give to you is to make sure that you research the companies that you will be dealing with. You have to do this if you want any chance at working with a legitimate refiner that will actually give you top dollar for your gold.
When looking into a company you should always see how long they have been in business. Ten years or more is a good sign since companies that have been in business for many years have a reputation to uphold. Also check and see if they have any complaints against them at the BBB's (Better Business Bureau) website while you're at it.
The next vital step is to find the companies website and check out their buying gold policies and how much they pay. Find out their address while your there and check to make sure that it actually exists. You want the company to own their own refinery and not just be a middleman gold dealer.
Look for a telephone number for the company and call them with any questions you might have. Check their customer service and how they treat you but make sure not to give into any pre-sale pressure they might put on you. This is the perfect time to see what they might offer you for your gold.
One of the most important things you have to know is what your gold is actually worth. The price changes every day so you will have to find a financial site that lists the current spot price of gold like CNN money. The formula for figuring out how much different karat's of gold is worth can be found all over the internet and there are even some calculator's available.
After finding your company and your gold's value, the next step is to find out what they will offer you. Some times you can get an offer over the phone but most of the time you will have to actually send in your gold first. This is because they have to check the karats and weight of your items before you can get an accurate price.
Ninety percent of the actual value is a good selling price for you if you can manage to find a refiner that offers a price as good as that. Really anything above eighty percent is a decent offer and you should take it if you don't find any higher than that.
Try to avoid any companies that do not refine their own gold because companies that are middle men have to buy at a lower price to be able to resell at a profit. This is also another way to avoid scammers. Most scammers do not have a refinery themselves but sell to someone else. This is also the only way to get top dollar for your gold.
Finally, make sure your gold is insured while in transit to the company and that they return it insured, if their quote is not accepted by you. If you do not buy insurance you can lose everything either by accident or by purposeful fraud. It's worth it to spend the extra couple bucks to make sure that everything goes as planned rather than be out hundreds if your gold scrap goes missing.
Follow this advice and you will be well on your way to selling scrap gold safely and easily. Just make sure that you do your due diligence and research thoroughly and you can avoid getting ripped off by one of the many con artists out there.
About the Author:
Jack writes articles on a website where he teaches people how to sell gold for cash and how to avoid cash for gold scams.
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