The high price of gold is creating a situation where a number of individuals are considering sending in their old jewelry for cash. The weakness in the economy has made things even worse. Seeing an opportunity, folks in the gold refining business are reaching out to get their share as well. I cannot remember any previous time in my life when I have seen refiners openly advertising on television, but in recent months, there they are, urging folks to send in their jewelry and gold for cash. It hasn’t even been a one time occurrence – I have seen many such ads, and from several different refiners. You may well have seen some of the same ads.
To help you select a reliable gold purchaser, you should also visit the Better Business Bureau website. The best gold buyer will be accredited, as they have passed strict requirements based on honesty and trustworthiness. There are different types of gold buyer that include pawn shops, jewelry stores and online buy used gold. The best option is an online gold buyer because they have a quick turnaround time and they provide the highest quotes. A pawn shop or jewelry store offer less money and require a lot of driving time, which cuts into your profit.
Selling Gold Coins: Gold coins act as one of the methods of investment. When the gold prices are high, selling it at the right place is not that easy. All the paper work should be in good condition. You should know the gold content in your coin. Finding the right dealer can be tricky; you can go online and find the local dealers in your area and compare the price. You can also visit cash for gold websites that give you best value for the coins.
If you take a gold mining stock’s total market capitalization (how much you can buy the company for) and divide it by how many ounces of gold it has in the ground (both proven and probable), you can see just how big a discount to gold prices some of these gold miners represent right now.
I want to discuss the gold party idea as a way to make extra money. There are countless websites that can teach you how to sell gold. A gold party is an event where friends and family bring their unwanted gold jewelry, and you buy it from them. You can then take this gold to your local gold exchange, or sell it on the Internet and turn a profit. There is always a market to sell your gold. Whether you are selling gold coins, or are just getting rid of ugly jewelry, there are lots of websites out there ready and willing to buy your gold.
If your not getting these prices, you will need to keep looking for a buyer that is willing to pay you a fair price. Many of the popular Internet gold buying sites try to buy at 20% or more below the market price, making huge profits at the expense of the gold seller. Pawn shops and local jewelers can be just as bad, so make sure you do the homework when selling to them as well. You will need to ask what they pay based on the pure gold that is contained in your gold jewelry items for sale. If the number is 8% or lower, then you need to keep looking for better gold buyers.
Getting rid of unused and unwanted gold is a great way to raise extra cash. The best way to sell a gold ring is to use a reliable buyer that will treat you fairly. But this takes tact and effort on your part to go with the company that you trust. Take those unwanted gold rings and necklaces and turn them into cash today!