Top Alternatives To Cash For Gold Programs

Do you have a pile of old jewelry hanging around your home that you don't wear anymore

? Whether you find yourself in an unexpected cash bind or are just looking to get rid of some items you no longer value, you'll likely find yourself eager to get rid of dated gold jewelry at some point in your life. With the amount of marketing that goes behind those "Cash for Gold" programs, it's no surprise that this is often the first service we think of when wanting to sell off some old jewelry, but you may want to strongly consider your options before going this route. Cash for Gold companies will often award sellers only a fraction of what their gold is worth, so consider these alternatives next time you have gold jewelry to sell.

eBay - Launched in 1995, eBay is the internet's top auction website and a terrific resource for individuals looking to buy or sell privately online. Just about any adult with an active PayPal account can use the site and the company has many regulations in place to protect both buyers and sellers from fraudulent or misleading transactions. The downside to selling your jewelry on eBay is the overwhelming number of other users selling their own gold jewelry at the same time - it'd be very easy for your jewelry to get lost in the large selection of competing gold items. You can, however, give yourself an advantage by investing some extra time and attention into your listing (images, custom auction design, etc.) and by listing your item from an already-trusted eBay account. And the upside to eBay, assuming your item sells, is that you could have payment for your gold jewelry sent to your PayPal account within three to four days, especially if you've chosen to offer a "Buy it Now" option for your listing.

Classified Ad - When people wanted to sell their unwanted items before the days of the internet, they would often take classified ads out in their local paper. While newspaper classifieds often cost significantly more than an eBay listing and only reach subscribers in your area, many buyers will prefer to meet with a seller before making a purchase. Other times the knowledge that a seller is located in the same area gives the buyer that extra peace of mind needed to make the purchase. If you'd prefer to skip the hassle and cost of dealing with your local newspaper altogether, remember that Craigslist will usually allow you to list your items free of charge with less restrictions on your listing.

Pawn Shop - While a majority of pawn shops will be more than happy to take your gold or silver jewelry off your hands, there's a reason this alternative appears last on the list. Like Cash for Gold companies, pawn shops serve as a middle man between you and the customer and are out to make a profit off of each transaction they make. As a result, you'll often find that pawn shops won't offer you much more than a Cash for Gold company and will many times offer even less. But if you're anxious to get rid of your gold jewelry and have exhausted all other options, at least get an appraisal from your local pawn shops before sending your items anywhere else.

Trading in your gold for some quick cash may seem tempting when you find yourself strapped for cash, but take the time to consider all of your options before getting rid of your unused jewelry. And remember that no one else is going to take your jewelry's sentimental value into account, so think long and hard before selling off any items passed down to you from friends or family members. Cash can be spent pretty quickly but memories surrounding your cherished rings and necklaces have the potential to last many generations.

by: Greg McGavock

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