This is the worst recession for over 60 years and as we have all had to cut corners, tighten our belts and look for ways to save cash, many people have been taking a good, hard look at where they can make extra money. Many of us have old jewelry which is simply wasting away in a drawer or a box somewhere - it is unlikely to be ever used again and it is in every sense of the word, dead weight.
Selling gold and especially old jewelry has become a boom industry in the US and around the world.
Why?
The answer is simple - in times of recession, investors look to buy gold because it is considered a stable, secure investment - gold is what backs the currency reserves of the US dollar and currencies all around the world. When economic times get rough, gold is where the smart money invests and in turn, this drives up the price of gold while stocks and shares fall in value.
Because top dollar is now being offered for gold, it makes a good proposition for gold refiners to buy in the relatively small quantities of gold and precious metals included in your jewelry collection. The issue for you is how to get the best price for the collection you are looking to sell and how not to get scammed in the process!
First of all, deal with a gold buyer who is prepared to offer you a published price for the precious metal involved - not just gold, but also platinum and silver - reputable dealers will publish a daily buy-price for metals so you can easily see what you will get for your metal and be able to compare prices with other dealers. If you cannot see a published price or the dealer is not ready to come forward with a price when you ask, avoid doing business with them - this is something which is basic and fundamental.
In addition, when you are dealing with a dealer using the internet (or indeed in any advertizing medium) you should take some basic precautions to make sure you are dealing with who they say they are! Remember, you are trusting a substantial amount of money to their gold buying process and you want to be sure you are going to receive payment from the person you are sending the precious cargo to. If they have an internet site, check the contact information and make sure you are dealing with a real company at the end of the telephone number. If you call the company and you only get a call-center or customer service staff who do not appear willing to discuss your potential sale, then quite simply, don't deal with them. You should also make sure that the address they give is a physical mailing address for their business and that it can be verified.
When you have decided who you are going to transact the business with, make sure that they provide you with secure and insured courier or mailing services so you can be assured that the jewelry makes it to their refinery and if there is a claim, you are going to be fully compensated for any loss or mistake.
Selling gold and especially old jewelry has become a boom industry in the US and around the world.
Why?
The answer is simple - in times of recession, investors look to buy gold because it is considered a stable, secure investment - gold is what backs the currency reserves of the US dollar and currencies all around the world. When economic times get rough, gold is where the smart money invests and in turn, this drives up the price of gold while stocks and shares fall in value.
Because top dollar is now being offered for gold, it makes a good proposition for gold refiners to buy in the relatively small quantities of gold and precious metals included in your jewelry collection. The issue for you is how to get the best price for the collection you are looking to sell and how not to get scammed in the process!
First of all, deal with a gold buyer who is prepared to offer you a published price for the precious metal involved - not just gold, but also platinum and silver - reputable dealers will publish a daily buy-price for metals so you can easily see what you will get for your metal and be able to compare prices with other dealers. If you cannot see a published price or the dealer is not ready to come forward with a price when you ask, avoid doing business with them - this is something which is basic and fundamental.
In addition, when you are dealing with a dealer using the internet (or indeed in any advertizing medium) you should take some basic precautions to make sure you are dealing with who they say they are! Remember, you are trusting a substantial amount of money to their gold buying process and you want to be sure you are going to receive payment from the person you are sending the precious cargo to. If they have an internet site, check the contact information and make sure you are dealing with a real company at the end of the telephone number. If you call the company and you only get a call-center or customer service staff who do not appear willing to discuss your potential sale, then quite simply, don't deal with them. You should also make sure that the address they give is a physical mailing address for their business and that it can be verified.
When you have decided who you are going to transact the business with, make sure that they provide you with secure and insured courier or mailing services so you can be assured that the jewelry makes it to their refinery and if there is a claim, you are going to be fully compensated for any loss or mistake.
About the Author:
The best online resource to sell gold or sell silver can be found at www.refinity.com
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