In a time of economic recession, people are trying to find different ways to make some extra money. A quick and easy way to bring in a little additional finance is to sell your gold, but it’s worth doing some research first to make sure that you get the best price for your gold scrap metal.
As with all commodities, the price of gold fluctuates depending on a number of variables such as availability, demand and external market forces. These can include the political stability of gold producing countries (instability makes the metal harder to mine, causing its value to increase globally because of a perceived scarcity or limited availability), fashion trends or environmental factors. Consequently, scrap gold prices can vary dramatically from day to day, so the first thing to do is to take a look at the market data. This should be available on any financial website or news site where commodities are tracked for investors.
It’s then a matter of looking around and finding out which scrap gold buyers give the price closest to the market value. As they are in business to make a profit, it is unlikely that you will get the full market value for your gold. Each buyer has to make a profit on their scrap gold, so they pay below market value but then sell on for the full value of the gold. This does not mean that you are being ‘conned’ in any way – it’s just the way the market works. Gold prices on the global market can fluctuate but are usually around $920-980/oz but this is not the price guide you should be looking for. The guide prices that will give you the most accurate assessment of your scrap gold’s worth are the trade scrap values. These vary depending on the purity of the gold. 9ct gold is not as pure as 22ct, so will obviously have a lower scrap value. Take into account the quality of your scrap gold when looking at scrap prices.
The easiest way to sell scrap gold is online. The process is relatively simple and can convert unwanted gold jewellery and other items into a quick cash injection. Instead of taking your items to a high street jeweller, the easiest option is to contact companies that offer to buy gold online (but do compare their prices before you select one). You will then be sent a ‘kit’ including a pre-paid and insured envelope that you can use to send your scrap gold to them and full instructions on how to do it securely.
The kit will contain paperwork asking for a full description of the gold you are sending to the dealer. The ‘golden’ rule when using these kits to sell your scrap gold is to make copies of every piece of paperwork so that you have dated and signed proof that you have sent your scrap to the company. The pre-paid envelope will also have insurance to cover your scrap gold in transit. Make sure that the insurance provided matches the value of the contents and if you require a higher level of insurance contact the company direct to arrange alternative methods of transit or an increased insurance premium. Once the company has received your gold they will value it and send you a cheque.
Selling scrap gold is a good way to make a little extra money from unwanted or broken jewelery, but before you choose your dealer do your homework first. Make sure you are fully aware of the market price and use this as a baseline to judge which dealer gives you the best price for your scrap gold.
Source by A Hunter
Finding a Good Scrap Gold Buyer
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