How to Sell Scrap Gold Easily

Seeing as how the economy is today many people are looking for alternative ways to make extra money. And one way that is gaining popularity quickly is selling gold for cash. People think that they can just take their old gold jewelry and turn it into a big pile of cash but unfortunately it is not that easy to get the actual value of your gold items or even close to retail value. Companies will either offer you much less than what your gold is really worth or just rip you off entirely but “losing your shipment”. And that is just two quick examples, there are many more where they came from. If you want to learn how you can sell scrap gold safely to a real gold and reputable gold refiner keep on reading.

If you actually want to make some extra moolah using this method, there is some must know pointers that will help you sell gold and avoid con artists and rip offs. What you need to know to protect your gold investment and sell for top dollar is to thoroughly check out the dealers you will be dealing with.

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.

Check the companies’ website, their policies for buying and selling of gold and their address. Is it an actual physical address? Post office boxes should throw up the red flag to you. You want a real brick and mortar site if possible. If the company is nearby see if you can visit the refinery or business office.

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.

After checking out the company, you need to find out how much your gold is worth. Since the price changes daily you will have to get the price from a popular financial site like CNN or Goldprice.org. Some gold refiners will let you enter a contract and lock in that day’s price and some others will just deal with the current day’s price. 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.

One you have your company that you want to sell to and the price of your gold, you need to understand that you don’t have to take the refiner’s first offer. In fact many times you can get a better price by declining and contacting them. Just make sure that you do contact them though if you don’t like their offer because some will smelt down your items after a certain time period.

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.

A good tip for avoiding con artists is making a point of avoiding gold refiners that don’t own their own refinery. Not only is it a good way to avoid scammers, but you can also get a lot more cash for you gold this way. The alternative is selling to gold dealers which in turn sell to gold refiners but they have to turn a profit so you make less on your sale.

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.

If you follow these pointers in the selling of your scrap gold jewelry by dealing with reputable dealers and refiners, researching different companies, and accepting only the best offers, you should be well on your way to getting a nice lump sum of cash for your gold. It should also save you headaches in the future as well as lead you to making wise decisions.

Jack writes articles on a website where he teaches people how to sell gold for cash and about the top gold buyers.