Tips To Keep In Mind When About To Sell Used Gold For Cash

The current time is a boom time for somebody wishing to sell gold for cash

. The gold prices are ruling at an all time high and gold refineries are hungry for scrap gold and wish to garner as much of the yellow metal as possible. However, if you are one of those sitting on unused gold and wish to dispose of your old gold, hold on and consider the following suggestions before taking the decision to sell them. These tips will protect you from getting ripped off by unscrupulous companies, and you might get a far better return on your gold sale.

1. Take the trouble to find out information about the company you wish to sell your gold to. Many companies will claim that they have enough experience but on closer scrutiny, you will pick up that they have not long been into the buying and selling of gold. You must not deal with companies who do not show an experience of at least ten years in the business of gold trading. It is a fact that the transaction will go smoothly if the company in question is a highly experienced one, and you will also get fair value for your gold.

2. Take a close look at the website of the company. What does it say about the company's policies on gold trading and do they have an office at a physical location? Be wary of companies displaying only post box addresses. They spell trouble and are not likely to be long-term players.

3. Check if the company allows for a number of communication options. It then becomes easier for you to reach somebody if you have a problem. Companies with an email address and a toll free number are good options to consider. If a company also has live chat options, then you must short list it definitely to do business with, as it shows the companys commitment to some level of customer service.

4. Do not commit to a transaction too quickly and without knowing about the fine print when you sell gold for cash. Make sure you know exactly what you are going to receive before making the commitment to sell the gold. Do not get bulldozed into the sale through high-pressure tactics employed by the company. Good companies will give you time to consider their offer and will not rush you into anything.

5. Keep away from middlemen, and companies that have them as fronts. It is always better to deal with the companies directly - and also with companies that have their own gold refinery. These companies have the capacity to buy gold and process it on their own and are thus more likely to give you a fair price, much closer to the market value.

6. Make sure you are aware of the existing gold price and compare the quote that you get from a company with the prevailing market rate. It is a good deal if you get at least 90 percent of the value existing currently, and that should be your objective.

7. Ensure that the company buying the gold gives you in-transit insurance.

The above tips should help you sell gold for cash without any hassles and get the best deal.

by: Lawrence White

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