How To Avoid Cash For Gold Scams

With gold at a record high now's the time to sell off some of that old gold jewelry you never wear. Wouldn't it be great to pay off some of that overpowering debt or put some money away in savings as an emergency fund in this trying industrial time? In the following article I am going to explain the simplest way to accomplish this as well as how you can avoid getting ripped off by middlemen and gold refiners.

If you have an interest in the possibility of making some additional cash, there are some must know some pointers in the selling of gold if you want to avoid trick artists and rip offs. What you want to grasp to guard your gold investment and sell for top buck is to entirely take a look at the firms you'll be working with.

How long have they been purchasing gold? It should be at least ten years or more. It isn't that all new gold refiners are scam artists but it is a lot safer to presume that a corporation that has been in business for 10 years doesn't make a habit out of ripping off their clients. If that were the case there would be plenty of complaints built up that you could find with a straightforward search of the company name in Google.

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

Do they offer a phonephone number to respond to your questions? Give them a call and see how they treat their clients. Use caution not to give into any high pressure sales pitch before knowing what you will actually be getting for your gold. This is a fun time to see what their first offer might be.

You must know that you are not being responsible to take what any gold refiner or gold dealer offers you when you send in your gold. And be advised that you'll be able to get it back if you don't agree with their price and still be ready to sell your gold jewelry to some other person. Some firms do have cut offs though that after a certain date if you do not contact them they will smelt the scrap down anyhow so always stay in touch with the company.

Ensure you know the actual current value of gold on the open market ( CNN's web site has current dear metal values or you can Goldprice.org for the current spot price of gold ). The cost of gold changes daily so you may not have the present price on the day that you contact the gold refiner but that is okay the price often does not change that much day by day.

ninety percent of the price is a good selling price for you if you can manage to get a refiner that offers a price as good as that. Really anything above eighty % is a decent offer and you need to take it if you do not find any higher than that.

Try and avoid any corporations 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 con artists. Most fraudsters do not have a refinery themselves but sell to some other person. This is also the only possible 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 isn't accepted by you. If you do not buy insurance you can lose everything either by accident or by purposeful fraud. It's worthwhile to spend the additional couple greenbacks to make sure that everything goes as planned instead of being out hundreds if anything were to go missing and would leave you unable to sell your gold.

If you follow these pointers that help you sell gold for money by dealing with reputable dealers and refiners, researching different firms, and accepting only the best offers, you should be well on the way to getting a nice one-off sum of cash for your gold. It should also save you headaches in the future as well as lead you to making sensible choices.