Selling Gold Jewellery  

With gold prices still on the rise, people are looking to make a little extra cash by selling off their old gold jewelry, coins, bullion, and even fillings. Selling gold to refiners is a great way to get some cash to pay the bills or just save up for a rainy day. In the following article I will explain how you can sell gold for cash with out getting ripped off by all the scam artists that have popped up recently.

The first thing you need to know if you want to sell gold without getting ripped is that you must thoroughly check out any companies you want to deal with. Find out how long they have been buying gold. If it's not at least 5 years or more that should be a warning sign. Not all new gold refiners are scam artists but it is generally a safe bet that a company that has been in business for more than five years probably doesn't make a habit of disappointing their customers. And if they do, a quick Google search of the company or a visit to complaints board or a similar site will tell you if any of their customers were dissatisfied.

You should also understand their buying and selling gold policies before doing any business with them. Unless they offer you 80% or more of the spot value for gold, look somewhere else. Check and make sure that they will insure your gold both ways if you send them any for a estimate. You don't want to be out hundreds of dollars if there is a shipping error.

Always check out the company's address before sending anything to them. Make sure that it is an actual physical address at a brick and mortar site. A post office box is more than likely a sign of a illegitimate business. If they are a local company, go check them out before you decide anything.

If they have a phone number call them up and see what their customer service is like. Don't let them hard sell you here until you have finished the research process. It is also a great time to see how much they will offer you.

Find out the current price of gold before you send in anything or accept any offers. You can find it on many financial sites like Money.CNN.com or Goldprice.org. The spot price of gold changes daily so check right before you call a company up, it only takes a few seconds. This way you have a number to work with when you get an offer from a refiner.

Don't deal with the middlemen gold dealers. They have to offer you less than what your gold is worth to a gold refiner in order to turn a profit. Go directly to a gold refiner that will offer you more than 80% of the spot gold price. If you can get an offer of over 85% you should probably take it.

Finally you need to realize that even once you send your gold into a refiner you don't have to take their offer until you cash the check. Be aware that some companies offer a direct deposit offer but it's generally not recommended because you won't know the amount until it gets deposited into your account. Some companies do have a time limit though and if you don't reject the offer in time they will smelt your scrap gold down before you have the chance to tell them that you don't accept.