Selling Gold For Cash

This is the big question! There are a few choices available to those that want to sell their gold. For those that own scrap gold, the refineries or pawn shops are the first two choices. On the other hand, if you have old jewelry made of gold, you can also try at jewelry stores, collectors, refineries etc. First decide what you are going to sell and afterwards decide which buyer might pay more.

This is one of the options. There are a lot of sites (eBay for example) that can allow you to show your metals to the world. Of course, this is not the most common place when it comes to selling worthy metals, but it works, because there are a lot of interested people.

This is the greatest thing about displaying your stuff online. Some might not pay the price you want, but this does not mean that you have no chances in getting the price you had in mind. A good tip is to do some research and discover the price that people are willing to pay. Either way, be prepared to get a different offer from what you had in mind.

It is important to know that the majority of buyers might not offer you the price of your dreams. So try to have realistic expectations on the price that you will have to receive for your gold. Prices that vary between five and ten percent less than what gold is really worth are quite common. This happens because the person buying needs the chance to get a profit when they are reselling your gold.

For instance, think about a scrap jewelry where you want to sell for the price of $100, because this is how much the market says it is worth. The person buying this will not be able to offer you this price because they will not manage to sell the piece for a profitable deal. Buyers seldom pay more than the price offered by the market.

The place of the transaction is not the only one that is important in this situation. You also have to be careful on the manner of payment. Cash or certified checks are the only methods which you should accept. This way you will avoid getting scammed. The most usual scam is the one with the credit card. Buyers who purchase with their credit cards can easily reverse all the charges and get all their money back. Losing your gold and your money does not sound like a good deal to anyone.