What You Need To Know Before You Sell Gold Online
Friday, August 13, 2010 | 2:23 pmIf you want to sell gold, you will find no shortage of buyers. Unfortunately, as the price of gold has gone up, so have the number of unscrupulous buyers. Some of these dealers who want you to sell to them are operating full-blown scams. Many more are operating rip-offs, where you get only a fraction of your items’ value when you sell gold to them. They may use scales that are inaccurate (in their favor, of course) but most often it is the price that allows them to make huge profits at your expense when you sell your gold coins or jewelry to them.
You will seldom get a decent price when you sell your gold locally to a pawn shop or at the “parties” or “fairs” held in someone’s living room or a hotel conference room. The best places to sell are online dealers, but since you will also find the worst dealers online as well, you need a way to tell the difference. Here are some things to look for if you choose to sell gold online.
Check the company’s record with the Better Business Bureau and the Federal Trade Commission. You will find that some companies that want you to sell gold to them have dozens or hundreds of complaints that have been lodged against them. These may run the gamut from slow payments to payments not being made at the posted rate. Also, while some tell you that you have a set time period to change your mind, and that if you choose to not sell gold to them, your items will be returned if you send the check back. However, it is not uncommon for these items to never be received, usually because the company claims notice (in the form of the returned check) was not received during the time period. Therefore, look for a place to sell gold online that will notify you of what their offer is before the clock starts ticking. Then, if you decide to reject the offer, no other action is needed on your part to get your items returned.
Also, when you are looking to sell gold online, find a site that posts prices in real time. Some offer prices that have not been updated in days and therefore are not the prices you will receive. A handful of sites have “live” price lists that are updated continuously during market hours. The more current the quoted prices are, the easier it is for you to determine what you will receive when you sell gold online.
If you decide to sell gold online, look for a company that will pay all shipping charges for you to send your items and also have them returned if you decide not to sell to them. Also, check the insurance limitations. Many will only insure your items for a maximum of $100, and most people who sell gold online have items worth a lot more than that.
The carrier used by online dealers can also be a signal that there could potentially be something wrong. Those involved in “sell gold” scams will seldom use the postal service, since this can add mail fraud to their list of charges. While many legitimate dealers rely on other carriers, such as UPS or FedEx to handle their shipments, the choice of carrier, when coupled with other “red flags” can be an indication that you do not want to sell gold to a particular dealer.
Author: Sarah Harold
Article Source: EzineArticles.com
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—Sarah Harold
(posted in sell gold | tagged better business bureau, gold, gold coins, hotel conference room, online, pawn shop, price, price of gold, Sarah HaroldArticle, slow payments)
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sell gold in clearwater fl says:
Saturday, August 14, 2010 | 3:41 pm
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Certified jewelers should be able to give you market rates for your gold.