One of the easiest ways to avoid cash for gold scams is to not use middlemen gold dealers. Middlemen gold dealers that don't have their own refiners sell to business that do and for more than what they paid you in the first place. They have to do this to turn a profit. Also gold dealers are more likely to be con artists because they don't actually have to have any kind of store at all. They can just use a PO box and take your gold and run. There are all kinds of these "companies" popping up lately so you really have to do your research into a company before you commit to anything.
Gold refiners really are the best option but even then there are scammers in the bunch. Make sure that you always look for complaints against the company and see how they handled it. If they satisfied the customer by providing a refund or their gold back, then great it might just have been a difficult customer. As long as they give you a decent offer and have good customer service you should go with them to sell your gold for cash.
Thursday, July 23, 2009
Where To Sell Gold Coins
You do not have to gather gold coins or invest in them to have them. Many people get gold coins regularly without having any interest in them, beside a question they keep asking themselves : how to realize a profit gold coins.
There are many options that you can choose from. Besides online sites you can also explore the offline means. Here we explore the other ways of selling gold coins.
Pawn / shipment Shops
These have been the preferred medium of trade in gold since the olden days. Go to any city and you will be in a position to spot them. Though you may get a smaller amount for your gold, you may be assured that you will get the money instantly.
Online Auctions
You can visit any one of the many sites for your purpose. But you have got to identify the right sort of buyer. You will get a good price here.
Gold Refiners
They are definitely the most suitable choice. You can deal with them from the comfort of your own residence. Here, you've got to ship your jewellery to the refiner in a safe and secure way. Once the refiner receives the jewelry, he'll rate it and make an offer, which you can accept or refuse. At times , some negotiating is also concerned. Once the price is agreed on, you get the check.
Any gold coin or any coin made of any dear metal has two parts of its worth : the gold price and the numismatic value ( for bullion gold coins it can be just a premium on the gold price in percents ).
The numismatic value of a coin can notice the effects of many factors : its grade ( condition ), its mintage ( the amount of coins issued ), and its year of issue ( how old it is ). So clearly, an older gold coin in perfect condition minted in very small number will worth a lot more than some modern gold coin in poor condition minted in great number - that easy.
Before you hand your coin to any of the places discussed above, you should find out the right value for your gold coin. The simplest way to do it is to have a coin catalog and having the ability to grade your coin suitably, and if you had one and were capable of doing coin grading, you most likely would not be reading this article.
You can start with asking your local coin dealers, they may not give you the right price, but at least you'll get some idea of what your coin is, what grade it is in, and what it's worth. Going to a jewelry shop can be justified only if you do not have any coin dealers around - they may know about numismatic price of coins, but generally, they just give you their gold worth, which can be relatively little compared to their numismatic value. Going to a pawnshop can hardly be justified at all, but I assumed I would mention this place anyhow, at least in the sake of fairness of the subject.
After you were given some idea of what your coin is worth, you can make a bit more research to find about the price of your coin. You can naturally just Google it, which is an wonderful good start, but an alternate way of doing it is using eBay. Go to eBay, find the coins and paper money category, and search for your coin ( you should know that much after you have seen your coin dealer ). Looking among current lists won't be enough - so click sophisticated search, tick completed listings only and do search again. That should give you a better concept of what similar coins are getting sold for.
You can consider using help of coin forums as well . There're plenty online ( as an example CoinForum ), and folks on those forums can be awfully professional and useful.
keep in mind that coin grading may have an effect on the price seriously and if the coin dealer you saw related that your coin is in the fine grade ( VF ) and worth around $100 and you discovered that an identical coin in the additional fine grade ( XF ) was sold for $300, you could have had your coin priced in the right way.
After you've got a better concept how much your coin is worth, you can start seriously considering selling it. They're obviously 2 ways to go : if your coin dealer offered you more than you found you can get on eBay, than go to your coin dealer. Otherwise, sell it online ( eBay or other online auctions ) - you even can consider selling it for $1 no reserve ( eBay only ) - there's a whole lot of people who made their business to watch gold coins auctions continually, so your coin will get sold for a reasonable price anyway ( do not do it if you don't feel adventurous ).
Just remember one other thing : some of the coins have varieties, which are miniscule distinguished features of a coin that will make it worth a ton more than its usual opposite numbers, for example : one number in the coin year is longer than other number, or space between two letters isn't the same as between other letters.
There are many options that you can choose from. Besides online sites you can also explore the offline means. Here we explore the other ways of selling gold coins.
Pawn / shipment Shops
These have been the preferred medium of trade in gold since the olden days. Go to any city and you will be in a position to spot them. Though you may get a smaller amount for your gold, you may be assured that you will get the money instantly.
Online Auctions
You can visit any one of the many sites for your purpose. But you have got to identify the right sort of buyer. You will get a good price here.
Gold Refiners
They are definitely the most suitable choice. You can deal with them from the comfort of your own residence. Here, you've got to ship your jewellery to the refiner in a safe and secure way. Once the refiner receives the jewelry, he'll rate it and make an offer, which you can accept or refuse. At times , some negotiating is also concerned. Once the price is agreed on, you get the check.
Any gold coin or any coin made of any dear metal has two parts of its worth : the gold price and the numismatic value ( for bullion gold coins it can be just a premium on the gold price in percents ).
The numismatic value of a coin can notice the effects of many factors : its grade ( condition ), its mintage ( the amount of coins issued ), and its year of issue ( how old it is ). So clearly, an older gold coin in perfect condition minted in very small number will worth a lot more than some modern gold coin in poor condition minted in great number - that easy.
Before you hand your coin to any of the places discussed above, you should find out the right value for your gold coin. The simplest way to do it is to have a coin catalog and having the ability to grade your coin suitably, and if you had one and were capable of doing coin grading, you most likely would not be reading this article.
You can start with asking your local coin dealers, they may not give you the right price, but at least you'll get some idea of what your coin is, what grade it is in, and what it's worth. Going to a jewelry shop can be justified only if you do not have any coin dealers around - they may know about numismatic price of coins, but generally, they just give you their gold worth, which can be relatively little compared to their numismatic value. Going to a pawnshop can hardly be justified at all, but I assumed I would mention this place anyhow, at least in the sake of fairness of the subject.
After you were given some idea of what your coin is worth, you can make a bit more research to find about the price of your coin. You can naturally just Google it, which is an wonderful good start, but an alternate way of doing it is using eBay. Go to eBay, find the coins and paper money category, and search for your coin ( you should know that much after you have seen your coin dealer ). Looking among current lists won't be enough - so click sophisticated search, tick completed listings only and do search again. That should give you a better concept of what similar coins are getting sold for.
You can consider using help of coin forums as well . There're plenty online ( as an example CoinForum ), and folks on those forums can be awfully professional and useful.
keep in mind that coin grading may have an effect on the price seriously and if the coin dealer you saw related that your coin is in the fine grade ( VF ) and worth around $100 and you discovered that an identical coin in the additional fine grade ( XF ) was sold for $300, you could have had your coin priced in the right way.
After you've got a better concept how much your coin is worth, you can start seriously considering selling it. They're obviously 2 ways to go : if your coin dealer offered you more than you found you can get on eBay, than go to your coin dealer. Otherwise, sell it online ( eBay or other online auctions ) - you even can consider selling it for $1 no reserve ( eBay only ) - there's a whole lot of people who made their business to watch gold coins auctions continually, so your coin will get sold for a reasonable price anyway ( do not do it if you don't feel adventurous ).
Just remember one other thing : some of the coins have varieties, which are miniscule distinguished features of a coin that will make it worth a ton more than its usual opposite numbers, for example : one number in the coin year is longer than other number, or space between two letters isn't the same as between other letters.
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.
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.
Subscribe to:
Posts (Atom)