Trading gold for cash seems like a good idea. After all who, woman or man, doesn’t have a piece or two of worn-out or ugly jewelry that they never wear? Trading it for cash certainly seems like a better idea than leaving it to sit in a box to get tangled or broken.
Unfortunately, with the sudden popularity of investing in gold, and selling off old gold pieces, a lot of shady, fly-by-night businesses have opened up to help unwitting patrons unload their unwanted gold… without getting anything in return. Like any other business transaction, it’s important to protect yourself when selling gold.
For starters, find customer testimonials on a third-party website or publication about the company you’re selling to. If a website offering to buy gold doesn’t have any reviews, avoid it. Some gold sellers have been suckered by unscrupulous places, mailing in their gold only to be told it was “lost” in the mail, and receiving no payment for it. If possible, sell your old jewelry to a brick-and-mortar business, like a jewelry store.
Secondly, have your jewelry assessed for purity before selling. Testing it yourself is well and good, but having results from a certified laboratory can help if a dealer tries to claim your gold is worth less than it is.
Thirdly, keep up-to-date on fluctuating stock prices for gold. Knowing the state of the market can help you recognize what is and isn’t a fair price.
Knowledge is power, and being savvy about selling your old gold can go a long way toward protecting you and your money.
Almost, everyone has some old gold items or jewelry that is not in use. This old gold items can be replaced or trade for cash too. As the prices of gold are very high these days so it is a good time to cash your gold. But the most important thing to consider in this regard is sell your gold wisely because there are many gold dealers that can deceive you in case of your pure gold. You can trade your old gold for cash safely by keeping these instructions in mind.
1. First of all, you need to decide which of the gold item you are intending to sell. Pick out all those gifts that are now out dated and boring. You may regret to sell those gifts with whom you have special association, so put them back into the jewelry box and sell only those items that have not so much value in eyes of you.
2. Next step is to look for the honest buyer. You can search for the potential buyer on internet and also in newspaper too. Keep it in mind that not all local stores buy gold so you have to find out those gold dealers that have very good repute in this case. You can check these gold brokers in the ads given in the newspaper. Internet can also help you in this regard.
3. Next is to have a full knowledge of current price of gold before selling your gold item. You can check the cable financial news shows and newspaper financial section in this matter.
4. It is highly recommended to check the purity of gold by you. If you have your own gold test kits then it will be good for you. This is because of the security of your highly valued gold. Many gold dealers can cheat you by telling that your gold is not pure and they can offer you low price of your pure gold. So, you can test the purity of gold by the gold testing needles or acids.
Also visit: Diamond Testers, Gold Test kit