Sell Your Gold For Lots of Cash — Best Tips
ince the price of gold has skyrocketed over the past several years, the television and internet has been deluged with offers to buy your gold jewelry and old coins for hard, cold cash. The offer might seem enticing, especially when you think about the items in your jewelry box just sitting there gathering dust — and you happen to need the money.
The question then becomes, is cash for gold a scam?
It is true that many of the companies have been around for a long time and have decent reputations. Although some that have popped up overnight may be fraudulent. The most important thing you can do if following my tips below.
How to Sell Gold For Lots of Money
1. Know the true value of your gold jewelry or coins. Look at the spot price of gold (www.kitco.com) and estimate how many ounces you have in your possession only then go to a cash for gold company. Multiply this by the spot price per ounce. (Keep in mind that these are Troy ounces, not the kind you use for cooking.)
2. Locate a dealer that has an established reputation. Oftentime jewelry store owners buy gold, so check around your town first.
3. Get several bids on the jewelry before making a deal. Sell to the dealer who has the closest bid to the spot price you think it’s worth.
Check back for more great tips!