Since gold is near record highs once again, it might be time for you to think about selling some of that scrap gold you have laying around the house. I'm sure you would love to make some extra cash in this trying economic time and be able to pay off your debts. If you want to learn how you can do this safely without getting ripped off by middlemen or not-so-honest gold refiners continue reading.
In order to avoid all the con artists and scammers out there today there are a few things that you must understand. And the first of these is that you have to check out each and every company thoroughly before even thinking about dealing with them. This way you will have a much better chance at finding the right dealer or refiner that wont rob or rip you off.
When looking into a company you should always see how long they have been in business. Ten years or more is a good sign since companies that have been in business for many years have a reputation to uphold. Also check and see if they have any complaints against them at the BBB's (Better Business Bureau) website while you're at it.
The next vital step is to find the companies website and check out their buying gold policies and how much they pay. Find out their address while your there and check to make sure that it actually exists. You want the company to own their own refinery and not just be a middleman gold dealer.
Look for a telephone number for the company and call them with any questions you might have. Check their customer service and how they treat you but make sure not to give into any pre-sale pressure they might put on you. This is the perfect time to see what they might offer you for your gold.
Once you check out the company, make sure you know the actual current value of gold on the open market. The price of gold changes daily so you may not have the current price on the day that you contact the gold refiner but that is ok the price usually doesn't fluctuate that much day to day. The formula for figuring out how much different karat's of gold is worth can be found all over the internet and there are even some calculator's available.
You need to know that you are not being obligated to take what any gold refiner or gold dealer offers you when you send in your gold. And be aware that you will be able to get it back if you're no agreeable to their price. Some companies do have deadlines though and after a certain date if you don't contact them they will smelt the scrap down anyway so always stay in touch with the company.
Any offer over eighty percent is a pretty good deal but you can get some up to ninety or ninety-five percent. Most scammers or con artists will only offer you around thirty to forty percent so be on the look out for any super low offers.
A good tip for avoiding con artists is making a point of avoiding gold refiners that don't own their own refinery. Not only is it a good way to avoid scammers, but you can also get a lot more cash for you gold this way. The alternative is selling to gold dealers which in turn sell to gold refiners but they have to turn a profit so you make less on your sale.
The final thing you have to do is to make sure that your package of gold is insured in route to the refiner. Most companies will do this themselves but it will probably be a small amount like $100 or 1/3 of your items value. Special deals can be made with many refiners for more valuable transactions.
Follow this advice and you will be well on your way to selling scrap gold safely and easily. Just make sure that you do your due diligence and research thoroughly and you can avoid getting ripped off by one of the many con artists out there. - 32532
In order to avoid all the con artists and scammers out there today there are a few things that you must understand. And the first of these is that you have to check out each and every company thoroughly before even thinking about dealing with them. This way you will have a much better chance at finding the right dealer or refiner that wont rob or rip you off.
When looking into a company you should always see how long they have been in business. Ten years or more is a good sign since companies that have been in business for many years have a reputation to uphold. Also check and see if they have any complaints against them at the BBB's (Better Business Bureau) website while you're at it.
The next vital step is to find the companies website and check out their buying gold policies and how much they pay. Find out their address while your there and check to make sure that it actually exists. You want the company to own their own refinery and not just be a middleman gold dealer.
Look for a telephone number for the company and call them with any questions you might have. Check their customer service and how they treat you but make sure not to give into any pre-sale pressure they might put on you. This is the perfect time to see what they might offer you for your gold.
Once you check out the company, make sure you know the actual current value of gold on the open market. The price of gold changes daily so you may not have the current price on the day that you contact the gold refiner but that is ok the price usually doesn't fluctuate that much day to day. The formula for figuring out how much different karat's of gold is worth can be found all over the internet and there are even some calculator's available.
You need to know that you are not being obligated to take what any gold refiner or gold dealer offers you when you send in your gold. And be aware that you will be able to get it back if you're no agreeable to their price. Some companies do have deadlines though and after a certain date if you don't contact them they will smelt the scrap down anyway so always stay in touch with the company.
Any offer over eighty percent is a pretty good deal but you can get some up to ninety or ninety-five percent. Most scammers or con artists will only offer you around thirty to forty percent so be on the look out for any super low offers.
A good tip for avoiding con artists is making a point of avoiding gold refiners that don't own their own refinery. Not only is it a good way to avoid scammers, but you can also get a lot more cash for you gold this way. The alternative is selling to gold dealers which in turn sell to gold refiners but they have to turn a profit so you make less on your sale.
The final thing you have to do is to make sure that your package of gold is insured in route to the refiner. Most companies will do this themselves but it will probably be a small amount like $100 or 1/3 of your items value. Special deals can be made with many refiners for more valuable transactions.
Follow this advice and you will be well on your way to selling scrap gold safely and easily. Just make sure that you do your due diligence and research thoroughly and you can avoid getting ripped off by one of the many con artists out there. - 32532
About the Author:
Jack writes articles on a website where he teaches people about selling gold for cash and about cash for gold scams.
