Turn Gold Into Cash Online
Selling gold online can be challenging for those who are unfamiliar in the ways that gold is sold. There are numerous factors to consider when trying to sell gold to online buyers. There are many sites that will buy your gold, but it is do your due dilligence to make sure that they are legitimate and not looking to scam customers out of money.
There are several ways to sell your gold online. If you are planning on selling jewelry, there are sites that will appraise your jewelry for you and other sites that will actually buy the gold jewelry from you. However, some sites are only interested in providing you one or the other, and the results can be skewered at times.
In one example, a few months ago a man tested the results for a site that will not be named that had the premise of cutting a check for the amount of gold jewelry and other items sent in via envelope. The man decided to have the jewelry appraised beforehand by several people and then noticed that there was a significant difference from the company he was mailing the gold to. The company was blatantly ripping him off!
To avoid situations where you might get short changed on your gold's true worth, you should research the company you are interested in sending your gold to prior to actual shipping. With some sites, you will be sent a special envelope that you can place the gold items into and then mail back to the company. These companies will likely both appraise and repay you for the gold.
In most cases you should obtain an outside appraisal for your gold items and compare it with the price being offered by the online buyer. Sites that offer you straight cash for your gold exchanges may be avoiding a paper trail, or are renowned for trying to rip off customers, so they try to avoid setting up meets.
To alleviate your concern about who is buying your gold and if they are legitimate, follow these simple steps:
*Sell to sites that have good reviews or that friends personally recommend and trust.
*Do not sign any agreements with sites that have to do with return business or long term commitments.
*Don't take the company at face value. Check the Better Business Bureau's Web site for consumer complaints against a company. A quick check will show what online sites have been attributed with, for instance, another online gold buyer, Cash4gold.com, had 282 complaints filed against it.
*When checking gold prices online, remember that gold is weighed as gold price per troy ounce. This unit of measurement is for how high of a percentage the gold is in your actual jewelry that you intend to sell, as not all jewelry is pure gold.
To better understand how the gold market currently is working, it is best to stay up to date with the commodity market price for pure gold. Many sites will claim prices, but will sometimes have their prices gauged for their own benefit, rather than those looking to sell gold in the first place.
A good tip for looking for online customers with gold is to first check with jewelers to have your gold appraised. The jewelers will give you a rough estimate of how much the gold is worth and will sometimes allow you to actually sell to them. Depending on the jeweler, their experience, and your local market they may price the gold differently, so it is best to visit multiple jewelers.
To find a jeweler's location, check your local phone book for precious metal buyers and sellers, as that will lead you to those who will be able to simultaneously buy and appraise your collection. After receiving appraisals, search online for various sites to receive estimated gold sales prices from and then pick which one you have reviewed and found to be the best.
While its diificult to time the market you should ideally sell gold online is to wait to sell your gold until prices have reached a high fetching price, like now. Although gold is currently at an all time record high there is always room for more appreciation in the precious metals market. To review the current prices of precious metals, search sites such as the Better Business Bureau's for the jeweler or online company you plan on trying to sell to.
There are several ways to sell your gold online. If you are planning on selling jewelry, there are sites that will appraise your jewelry for you and other sites that will actually buy the gold jewelry from you. However, some sites are only interested in providing you one or the other, and the results can be skewered at times.
In one example, a few months ago a man tested the results for a site that will not be named that had the premise of cutting a check for the amount of gold jewelry and other items sent in via envelope. The man decided to have the jewelry appraised beforehand by several people and then noticed that there was a significant difference from the company he was mailing the gold to. The company was blatantly ripping him off!
To avoid situations where you might get short changed on your gold's true worth, you should research the company you are interested in sending your gold to prior to actual shipping. With some sites, you will be sent a special envelope that you can place the gold items into and then mail back to the company. These companies will likely both appraise and repay you for the gold.
In most cases you should obtain an outside appraisal for your gold items and compare it with the price being offered by the online buyer. Sites that offer you straight cash for your gold exchanges may be avoiding a paper trail, or are renowned for trying to rip off customers, so they try to avoid setting up meets.
To alleviate your concern about who is buying your gold and if they are legitimate, follow these simple steps:
*Sell to sites that have good reviews or that friends personally recommend and trust.
*Do not sign any agreements with sites that have to do with return business or long term commitments.
*Don't take the company at face value. Check the Better Business Bureau's Web site for consumer complaints against a company. A quick check will show what online sites have been attributed with, for instance, another online gold buyer, Cash4gold.com, had 282 complaints filed against it.
*When checking gold prices online, remember that gold is weighed as gold price per troy ounce. This unit of measurement is for how high of a percentage the gold is in your actual jewelry that you intend to sell, as not all jewelry is pure gold.
To better understand how the gold market currently is working, it is best to stay up to date with the commodity market price for pure gold. Many sites will claim prices, but will sometimes have their prices gauged for their own benefit, rather than those looking to sell gold in the first place.
A good tip for looking for online customers with gold is to first check with jewelers to have your gold appraised. The jewelers will give you a rough estimate of how much the gold is worth and will sometimes allow you to actually sell to them. Depending on the jeweler, their experience, and your local market they may price the gold differently, so it is best to visit multiple jewelers.
To find a jeweler's location, check your local phone book for precious metal buyers and sellers, as that will lead you to those who will be able to simultaneously buy and appraise your collection. After receiving appraisals, search online for various sites to receive estimated gold sales prices from and then pick which one you have reviewed and found to be the best.
While its diificult to time the market you should ideally sell gold online is to wait to sell your gold until prices have reached a high fetching price, like now. Although gold is currently at an all time record high there is always room for more appreciation in the precious metals market. To review the current prices of precious metals, search sites such as the Better Business Bureau's for the jeweler or online company you plan on trying to sell to.
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