Surely you've seen the TV ads or the signs around your town where various companies are lining up to have you sell gold jewelry to them. The promise to pay fast cash and assure us that their particular outfit will give us the most cash if we'd just pick them when we decide to sell gold jewelry for profit.
I have a small shiny collection of used gold jewelry so I decided to ask a goldsmith I know what the real deal is with these cash for gold guys. Here are is an excerpt from that interview done last month:
Question: Are these cash for gold guys for real?
Goldsmith: The companies are legitimate - meaning that most of them will actually pay you something for your gold but all gold buyers are not created equally.
Q: IS this really a good way to sell gold jewelry?
A: Well most people who have old or broken gold jewelry really have no use for it. It does nothing for them sitting around in an old coffee can or whatever so you could make the argument that getting any money for this old gold stuff is better than getting nothing.
Q; You seem to indicate that you don't get the same price for your gold at every place.
A: That's very right. Where you sell your gold jewelry is really the most important factor in how much you will get. For example a retail jewelry store or pawn show simply cannot pay you top dollar for your old jewelry. They have overhead costs and have to make money, plus once they buy it they have to send it off in order to get their money for it. They have to low ball you on price just to make a profit on it.
Q: Wow. So where is the best place to sell gold jewelry?
A: A gold and stone exchange would be the best. They are the guys who actually melt the gold down and sell it on the open market. They also process gem stones and diamonds and pay for those too. Their customers are usually the pawn shops and the jewelry stores who buy gold from the public and need to turn the gold into cash. A real gold exchange is where the industry insiders sell their gold for the most cash
Q; Where do I find one of these gold and stone exchanges?
A: Until recently most of them were not open to the public, but these days I see several of them which have web sites where you can request a mail-in security kit (usually called an exchange kit). I won't endorse on here but you can easily just Google for a "gold and stone exchange" and find several reputable places. Then just request the kit and use it to send you items in. Normally the exchange will pay for postage and insurance - and they don't play games with the gold recycle value. You'll get them most by far from a direct exchange.
Q: Thanks you for your time.
A: My pleasure.
No comments:
Post a Comment