The recent boom of the cash for gold business has caused a lot of people to wonder if they can really get cash for their gold and if what they get is a fair price. If you are looking to sell your gold jewelry or any other pieces, you need to first educate yourself and make a plan.
First, figure out if any of the jewelry you plan on selling has value beyond gold itself. Is it antique? Does it feature a rare or limited design? Don’t rush into sending it in, no matter how much you think you need the money.
Next, price your jewelry. You will need to visit a couple of jewelry stores and ask the clerks for their professional opinion. If you can pay an appraiser – do so and ask for a note detailing his findings.
Your next step is to find a “cash for gold” company. When you find a few of them, check with the Better Business Bureau, search the Rip-Off Report website and ask people you know if they’ve ever done business with them. Visit the website and check for an address, customer service number and live chat. If the company “checks out”, you can mail your gold. Take a picture of each item you are mailing and be sure to mail in plain packaging. This ensures that thieves don’t get to your gold before the company does.
When you get the offer, compare it to the assessed value of your treasure. More than likely, you will be offered a lot less for it that you expect. That is normal because “cash for gold companies’” main aim is to provide a service to customers by offering a quick cash turnaround. If this is not what you’re after – you should look for a different option. Also, you may refuse the first offer in hopes to get a higher one. See if the company comes back to you with a better option. Whether they do or not, you can either accept the money you are offered or ask for your gold back. Be sure to stay on top of things: when they turn your gold into “soup” – it’s too late to ask to have it back.
There is also a new breed of cash for gold companies out there – “cash for gold parties”. The basic premise is that you throw a party and invite your friends. The company party planner plans everything and provides snacks. Your friends tote their gold in, and the company rep weighs it and pays them on the spot. These companies are still relatively rare. For example, there is only one in Atlanta – Premiere Gold Parties.