Express cash for gold has really hit the market by storm in recent years. It seems like everyone wants to buy your gold. And who could blame them with the market value of gold right now running at $1,700 per ounce? But today we’re going to sort through all the glitz and glamour of the propaganda and see who really has the best deals. There are generally 3 reputable ways to sell your gold. You can go through the online dealers who are very popular these days. You can sell to a local pawnshop or jeweler. Or you can go direct to a refinery. So let’s find out which of these paths is the best for your gold selling needs.
Online Gold Buyers and Dealers
One great way to get express cash for gold is by using an online dealer. Their system is quite user friendly. You call their toll free number, or contact them online. They send you a postage paid envelope for your gold. You send the gold to them and they appraise it for you. If you agree on the price, they will keep the gold and send your money in the mail.
The main drawback with online dealers for people looking to sell their gold is the timeframe. The usual turn around for the entire process is 3 weeks. If you’re in a bind and you can’t wait three weeks, then this probably isn’t the best bet for you. However, if you can wait, online dealers tend to give higher percentage rates for their appraisals. Most will pay up to 80% of what your gold is worth.
Also, there are sometimes snags that can’t be avoided. Your gold can get lost in the mail on the way to the dealer. The postage paid envelopes are traceable, so you will know that the company isn’t scamming you. However, if they don’t receive it, they can’t appraise it. One upside to this is that a reputable dealer will fully insure their envelopes so you’re not completely at a loss.
Many people looking for express cash for gold will fall for scams. There’s no easier place for this than the internet. You aren’t face to face with the broker and you’re still relying on their word. To make sure you have one of the good guys, read independent reviews of their company. Don’t settle for the reviews on their websites, or on other sites that link back to their website. Most online directories or scam busting websites will have honest reviews. Check them out on the Better Business Bureau website to be completely sure of their standing. Also, there’s a growing trend of gold buyers to hold online teleconferences with buyers so they can see the process at work.
Your Local Pawnshops and Jewelers
People have been bringing their gold to pawnshops and jewelers for appraisals for decades. There’s a reason for that, too. The local dealers know the current fair market value better than anyone. They’re in the middle of it and they know it will be their responsibility to sell the pieces you bring in. If you’re looking for express cash for gold, maybe you should look no further than your local dealer.
If you’re in need of some fast cash, then this is really the way to go. They can appraise while you wait and tell you exactly what you’ll get for your gold. They can also pay you in cash, which we all love. Many of these retail establishments have loyal customers who continue to buy and sell with them because relationships are forged. You may also get better pricing after a while of this reciprocity.
The main ‘con’ on the side of local dealers is pricing. Many times your local jeweler can’t give you the high price that the online gold buyer can pay. This is because he does still have to make a profit. He’ll most likely be putting your piece out for sale instead of melting it down like the others. So he has to work his profit margin in there. But, if you’re in dire straits, that 65-70% is still a sweet deal.
Gold and Metal Refineries
People don’t automatically think of gold refineries when searching for express cash for gold. That’s because we assume we have to work with large truckloads of gold in order for them to see us. However, that’s just not the case. In fact they will see anyone with gold, silver, platinum, and any other precious metal.
Also, there are more of these refineries around than you might thing. So if you’re trying to get express cash for gold, you may actually find one of these guys in your back yard. Many of your usual scrap metal suspects either appraise gold on site, or are affiliated with a refinery.
I saved the bit of news for last when it comes to selling your gold! If you can find a local refinery to bring your gold and jewelry to, you will get the best prices on the market. Since you’re basically going right to the source, you don’t have to waste money on the middle man. Most gold refineries will pay up to 95% of your gold’s fair market value. You won’t have to pay refinery fees or troy ounce weight charges. That could really add up if you’re holding onto a lot of gold.
Now that I’ve given you some things to think about regarding express cash for gold, you have some homework to do. Assess your needs regarding speed and rate of return. Then find the dealer that fits in the best with your situation. Most people opt for the three main ways of selling gold, online, local dealers, and refineries. As the price of gold and platinum is on the rise, now is a perfect time to clean out those old closets. Just be sure that you’re dealing with a reputable business, and not a fly by night scammer. Check the BBB before dealing with anyone.