Gold sellers need to be educated and aware: A little homework can help avoid a lot of heartache.

Have you been scouring the Internet or leafing through newspapers looking for the best place to sell your gold? Like most people, you probably have many concerns about how to get the most when selling your gold jewellery and avoiding gold buying scams. The following 5 tips will help you locate the best gold buyer and sell your gold for the most cash possible.

1) Finding a reputable gold buyer.

Finding a reputable gold buyer is key to being offered fair, top cash for your gold. Although the Internet gives you access to search engines, forums, blogs, and cash for gold review sites, you must be careful. A lot of the information in these venues is placed by online gold buyers themselves to positively influence their own profile, and to tarnish the reputations of their competitors. To be safe, you should only trust the information presented by known media and review sites, the recommendations of friends and associates, or call (or email) the buyers directly to find out how accessible they are and talk to them about their policies.

2) The different kinds of gold buyers.

Almost everybody is buying gold these days, from cheque-cashing outlets to pawn shops, shopping mall kiosks, jewelry stores and online gold buyers. They are differentiated by their expertise, their location and accessibility, and by the amount of money they are capable of paying for your gold. Pawn shops and secondary outlets are likely to give you the least return. Jewellery stores may give you more, but have overhead costs. Selling gold online is worrying but can potentially have the highest payout due to low overhead.

3) What type of buyer should I use?

As mentioned above, an online gold buyer will potentially give the highest payout. They are not burdened with the high operating expenses that exclusively physical locations have to bear. This means that they should be able to offer higher quotes with a reasonably quick turnaround time and convenient service. If you do sell online, try to find a buyer who is backed by a public brick-and-mortor office (even if far from you) and who is responsive to phone calls or emails.

4) How do I know that they are reputable?

A visit to the Better Business Bureau website is one way to investigate the trustworthiness and reliability of a buyer. The BBB will disclose unresolved complaints, a bad agency rating and other pertinent data. Businesses with an BBB accredited status are an ideal choice due to the standards they must maintain to keep their accreditation. Similar trust can be placed in buyers who are active members of the Jewelers Vigilance Committee (JVC), which commits member jewellers to comply with very high ethical trade standards.

5) Is there a “best time” to sell my gold?

Now is the best time to sell your gold items. Gold is commanding record high prices, and the best places to sell your gold will give you quotes based on the day’s trading value.

Avoiding the Cash for Gold Scam

Sadly, scammers abound in the online cash for gold business, but you can avoid being taken by taking a little time to educate yourself about the gold industry in general, and by investigating the buyers you are considering. Don’t trust what they say about themselves. Trust the agencies they belong to (BBB, JVC), what the press has to say about them, the amount of information they give about themselves (physical address, executives names, etc.), their accessibility by phone or email, and how they treat others (client recommendations, fundraising with reputable charities, etc.)

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