How To Sell Gold Without Getting Ripped Off

With gold at a record high now could be the time to sell off some of that old gold jewelry you never wear. Would 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 economic time? In the following article I'm going to explain the best way to do this as well as how you can avoid getting ripped off by agents and gold refiners.

If you have an interest in the prospect of making some additional cash, there are some must know some pointers in the selling of gold if you'd like to avoid scammers, con artists, and rip offs. What you want to grasp to look after your gold investment and sell for top dollar is to completely try the companies you will be working with.

How long have they been buying gold? It should be at least 10 years or more. It is not that all new gold refiners are con artists but it is a lot safer to assume that an organization that has been in business for 10 years doesn't make a habit out of ripping off their customers. If that were the case there would be masses of grumbles built up that you could find with a simple search of the company name in Google.

Check the companies' web site, their policies for purchasing 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 bricks and mortar site if possible. If the company is nearby see if you can visit the refinery or business office.

Do they supply a telephone number to reply to your questions? Give them a call and see how they treat their clients. Be careful not to give into any high pressure sales pitch before knowing what you'll actually be getting for your gold. This is an excellent 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 remember that you will be in a position to get it back if you don't agree with their price and still be ready to sell your gold jewelry to someone else. Some companies do have cut offs though that after a certain date if you don't contact them they'll smelt the scrap down anyway so always stay in contact with the company.

Ensure you know the actual current value of gold on the markets ( CNN's website has current dear metal values or you can Goldprice.org for the current spot cost of gold ). The cost of gold changes daily so you may not have the current price on the day that you contact the gold refiner but that is okay the price sometimes does not fluctuate that much daily.

Ninety p.c of the actual price is a good point to consider selling scrap gold at, that is if you can manage to find a refiner that provides a price that good. Actually anything above eighty percent is a respectable offer and you should take it if you do not find any higher than that.

Try and avoid any firms that do not refine their own gold because corporations that are middle men have to buy at a lower price to be ready to resell at a profit. This is also another way to avoid trick artists. Most conmen don't have a refinery themselves but sell to somebody else. This is also the only real way to get top dollar for your gold.

Ultimately, confirm 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 crime. It's worth it to spend the additional couple dollars to make certain 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 cash by dealing with credible dealers and refiners, researching different firms, and accepting only the best offers, you should be well on your way to getting a pleasant lump sum of cash for your gold. It should also save you headaches in the future as well as point you to making wise decisions.