Is it possible to sell your scrap gold for cash Business Реклама Recent Posts « » Is it possible to sell your scrap gold for cash February 21st, 2012 | Author: admin Is it Possible to Sell Your Scrap Gold For Cash?

The stock market continues to rise while the U.S. dollar continues to fall. Meanwhile, the price of gold has reached heights that have not been seen for decades. A lot of people are wondering if now is the time to sell.

If you own scrap gold, you can easily turn it into cash. Millions of people have items tucked away deep within their attics and garages that can be sold for a quick infusion of needed funds. From long-forgotten necklaces to dusty coin collections, your gold belongings may now be worth more than ever. It may be possible to turn them into a check for hundreds, even thousands, of dollars.

Below, we’ll clarify how “scrap gold” is defined and why there is a good chance you own more than you realize. We’ll also explain how you can sell it online. Lastly, we’ll describe an expensive pitfall you would do well to avoid.

What Is Defined As “Scrap?”

Scrap gold represents any item that contains gold that you no longer use, but can be reprocessed. For example, do you own a bracelet that has broken or become damaged? Do you own necklaces for which you no longer have a need? Do you own rings with missing gems? Even the filings from a goldsmith are considered scrap that can be reprocessed. Each of these items (and hundreds more) can be sold for a competitive price to online gold buyers.

How To Sell Your Scrap Online

Finding a buyer is easy; there are hundreds online. The challenge is to find a buyer who is willing to pay a competitive price per troy ounce. Once you find a trustworthy company to which you’ll sell your scrap gold, you’ll create an account on their website and print a processing form. The purpose of the form is to list each item you plan to sell. After completing it, simply mail the form along with your items to the buyer. You’ll receive an email from the company with their offer. Reputable companies will always let you choose whether to accept or decline their offer.

Many buyers will also be happy to send a postage-paid kit to your home in which you can mail your items. The kit will be have a tracking code and be insured through the post office up to a predefined dollar amount.

A Potentially Expensive Pitfall

One of the most common pitfalls that entrap a lot of people is to sell their scrap gold to a middle man. Middle men simply broker transactions between you and a refinery. They profit on the spread – the price they receive from the refinery less the price they pay you for your items. Fortunately, you can sell your scrap gold directly to a buyer that operates their own refinery. Doing so allows you to eliminate the middle man and enjoy a higher price since the buyer does not need to pay someone else to broker the deal.

When selling your gold jewelry, coins, casts, pendants, and other items, it is critical that you work with a reputable company. There are far too many inexperienced buyers online; many of them are less than trustworthy. However, with a little due diligence, you’ll find that your experience is smoother than you might have imagined.

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