What To Look For When Selling Gold Online

With the economy currently in a serious recession, there are many people out there looking to make a few extra dollars wherever they can. And many are looking no further than their jewelry box. Gold has maintained a high value, and there is a thriving business in selling unwanted gold online. There are a countless number of gold sites out there, so how do you get the best deal?

Calculating the Value of Your Gold

-Take your jewelry to a local dealer to get an appraisal. While this won’t give you an exact price of what you will get when you sell it online, it will give you an estimation of what the jewelry is worth.

You can also search for similar items on eBay to see what others are paying for like jewelry items.

-Separate your gold into carat value (14k, 24k, etc) and then weigh it in grams. Some gold refiners weigh in pennyweights, a European metric system, but you can find conversion tables online. Then, find out the current dollar value for gold. There is a formula that takes into account the carat, weight, and current price of gold that will tell you how much per gram your gold is currently worth.

Advice for Choosing a Company

As we mentioned before, when you type “sell my gold online” into any search engine, you are going to get more companies than you can count. You want to make sure that you are working with a dependable company. Here are a few things to take into consideration.

-Check if the company is registered with the Better Business Bureau. The BBB has strict guidelines for their accredited business, and companies must have continued compliance with them in order to keep their accreditation.

-Check to see if the company has a Trust-E seal. A Trust E seal is a certification that lets you know that the business complies with guidelines in order to protect your privacy.

-Make sure that you read and understand the company’s terms and conditions. Most companies will have you send your unwanted jewelry to them, and upon receiving it they will make you an offer. But what happens if you don’t like their offer? Can you get your jewelry back? How long do you have in order to refuse an offer? These are all things that you want to know before you make a commitment to a company.

-Do your research on the company. Search to see if any previous customers have written reviews on any forums or blogs. Previous customers have no reason to be dishonest about their experience with a company, so if you find that the company you are thinking about using has many negative reviews from people who previously used the service, you can rest assured you are most likely to have a negative experience as well.

-Before committing to a company, check out their customer service. Many sites SAY that they offer stellar customer service, but give the customer service number a call. Can you actually speak to a representative? Are you kept on hold for an extensive period of time? These are not issues you are going to deal with should you have a problem when selling your gold.

When looking to make a few extra dollars selling your unwanted gold online, putting in the extra effort to make sure you are getting the best deal with the best company will definitely pay off in the end. To help you out a little further, we at Gold4Bank.com have put together a comparison chart of some of the top online “cash for gold” companies.