When the economy is low, many people turn to “cash for gold” businesses in the hopes of getting some cash for their old jewelry or coin collections. It’s easy to find a buyer; just look for the “We Buy Gold” signs held up by employees on the side of the road. Many pawn shops buy gold, along with traveling businesses that set up shop in a hotel for a few days. The internet, of course, is full of buyers eager for your product. But before you try to get Cash For Gold Coins or jewelry, make sure to prepare yourself and get the best price possible.
The first thing you want to do before you sell any of your belongings is to find out how much they are actually worth. A reputable coin dealer can give you an honest estimate of the value that you can use as a baseline for comparing offers. There are also websites that can give you similar, if less accurate, information (since a website can’t assess quality the way an experienced coin dealer can). However, be aware that no dealer will offer you full value for your gold. The amount will vary, but it will depend on how much profit an individual dealer needs to make.
The next thing you should do is research the places where you’re consider trying to sell. Some you should avoid without looking any further, like the “We Buy Gold” shops – these shops are likely to give you 40% to 60% less than what a reputable dealer will pay you. Rogue buyers, who set up in hotels temporarily, are even worse. They have been known to take gold for examination and disappear before ever returning it. Another very risky practice is sending your coins or jewelry to someone by mail before receiving payment. Your Better Business Bureau can help you make a reasonable decision regarding whom to trust.
A local dealer with a good reputation is one of the best places to get Cash For Gold Coins or jewelry. An established business needs to maintain a good relationship for honest dealing in the community in order to stay in business. One reputable local company that deals in gold is Palisade Jewelers. They are a jewelry store that offers high-end watches; gold, platinum, and diamond jewelry; and jewelry pawn loans. You can also connect them on Facebook for more updates.
