Protecting Yourself From Scams When Selling Your Gold

More and more people are selling their gold jewelry to get by during these difficult times. But as more people are growing desperate to get extra cash these days, the number of gold buyers wanting to exploit the situation is also growing.

That’s why you need to take extra precautions when you look for a buyer for your gold if you plan to sell gold in Syosset, NY and elsewhere. There’s no guarantee that you will get the price you want for your gold, but at least it won’t be as low as some exploitative gold buyers will offer you. 

The first thing you should consider when you are looking for gold buyers is the legitimacy of the gold company you are dealing with. There are several ways to do this. One way is to know if they have an office and where it is located. Look for a contact number and call the company to make inquiries. If the office is near your place, it is better if you drive by and see for yourself if the company really exists.

Or if it is impossible for you to do a physical inspection, research about your gold buyer in the Internet. A dependable gold buyer is he who has a website, or at least a blog, where clients like you can visit and get important information from.

Another precaution to take is to know how you will get your gold to the buyer. Envelopes that are insured and prepaid must be used, without you having to pay for the insurance or the shipping. The packaging must also include a jewelry pouch that is sealable and a tear-proof and padded outer packaging. The packaging must not be see-through. Otherwise, people from the postal office will know what’s inside. Even if postal theft is rare, you cannot take chances.

The next thing to prepare for when you are selling gold is when you are not satisfied with the buyer’s offer. It must be clear from the start that there should be a period where your gold will be returned if you are not happy with the deal. Understand carefully the terms and conditions.

The best way to look for a gold buyer that you can trust is through asking for referrals from your close friends and relatives who have experienced selling their gold. You can be sure their recommendations can be trusted because people close to you have no reason to dupe you. If they were able to get a good deal for their gold with a particular buyer, there’s no reason you will not get your own excellent deal too.