How to Turn Your Unwanted Gold into Paper Money
Gold has recently sold for as much as $1400/ounce; the price has never been so high. More people than ever are looking to turn their unworn gold jewelry and old gold coins into cash. There are many online and brick-and-mortar stores who are willing to buy you gold items. If you use an internet gold buyer, it is important to educate yourself about the process and take some reasonable precautions. There are many factors to consider before you sell to anyone.
Step 1
Weigh your gold items.
Step 2
Consider the composition of your gold items, if you remember.
Tips:
Special tests and tools are required to accurately determine the content of a gold item. But it is important to consider the composition, as you understand it, of what you are sending so you are not surprised by the gold buyer’s offer. Is it 8 carat (k) or 24k? Is it solid gold or gold-plated jewelry? 24k or pure gold will earn you a higher payout. Solid gold jewelry will pay you substantially more than gold plate. Solid gold will pay substantially more as most gold plated jewelry might only have a few atoms thickness of gold coating the surface. Gold is non-ferrous and does not draw to a magnet, however most plated jewelry is magnetic, so this is one very easy test you could do yourself to determine if you have plated gold or solid gold. While heavier jewelry will pay you more, you must also consider what the jewelry is. Is it a watch, which will have a large amount of non-gold weight? Are there jewels? Jewels will reduce the weight of the gold and you may not be paid for the jewels you send.
Step 3
Look for a gold buyer that uses transparent practices and explains the processes clearly: the tracking process, how they will evaluate your gold items and how they will compensate you. Select a gold buyer that records the intake of your mailer and makes the recording available to you. It is important to choose a gold buyer that lets you reject their offer and will return your gold items if you are dissatisfied with their cash offer. Be sure they follow these practices and you can feel more confident about sending your gold.
Step 4
Choose a reliable company who has a good reputation for honest behavior. Though there is no specific industry regulation by the government, look for companies that belong to business organizations such as the Better Business Bureau (BBB). Proper accreditation will reassure you are dealing with a gold buyer and refiner who follows industry best practices and who does not have a reputation for dishonest practice.
Step 5
Order a gold return pack with an inventory description card, prepaid and secure mailer. When it arrives, follow the instructions provided and fill out a detailed description of each item on the inventory card. Retain a copy of all documents and photographic record of all items sent.
Step 6
Enclose your items in the mailer, secure the closure and mail the return pack to the gold buyer.
Step 7
Accept or reject the offer from the gold buyer. Reputable gold dealers will give you the chance to refuse their offer and return your items before they irreparably transform your gold product.
Step 8
Select you payment option and receive payment from the gold buyer. Quality gold buyers will offer different methods of payment, including checks and PayPal direct transfers.
Once payment has been made, sit back an revel in a job well done. You’ve been able to transform your unwanted gold, coins and jewelry into cash-money. Enjoy the money feeling confident that by following these steps you’ve chosen a quality gold buyer and been treated fairly.
Buynsellgold.com is a great source to buy and sell gold, silver, jewelry and other precious metals online.
Contact us with any questions: info@buynsellgold.com or (877) GOLD 717
Christian K is the VP of Market Research and Product Development for Buy N Sell Gold. Check out the Buy N Sell Gold Blog and Buy N Sell Gold.. Free reprint available from: How to turn your unwanted gold jewelry in money.
Related posts:
- Where To Sell Jewelry – How To Get The Most Money For Your Jewelry
- Do You Have Unwanted or Broken Jewelry?
- Sell Gold Jewelry
- Get Cash For Your Gold Jewelry
- Searching for the Top Method to Sell Your Gold Jewelry
- How Do I Sell My Gold For A Great Vacation
- How to Determine the Most Profitable Time To Sell Gold Jewelry
- Do I Have False Gold Jewelry?
- Sell Your Old Jewelry
- Get Cash For My Gold?
Tags: Bankruptcy, business, Cash For Gold, Divorce, finance, gold price, money for gold, pawn, payday loans, personal finance, Sell Gold, sell jewelry, vacation