Gold jewelry is fashionable and pretty. Even gold on its own is beautiful with its shine. The best attribute of gold however, is that if you are in a financial pinch you can sell it.
Selling your gold may not be your first thought. It took time and a lot of effort to acquire what you have after all. If you need cash though, then its your best option. If you really think about it; you don’t wear your gold jewelry everyday but you do need to eat everyday. Priorities first.
Just because you need cash doesn’t mean you deserve to be swindled. Read on for some things to watch out for so you can get the most for your gold valuables.
Spot Offers – Blessing or Curse?
Spot offers can be tricky. Never rush for on-spot exchange offers, especially if the place you are selling to is offering you cash without any bill or receipt. No matter how great the deal may look; it is essential to have the proof of payment in hand. If they are willing to provide you a bill, then the spot-offer can be a good thing.
Gold Loan or Exchange for Cash?
Only opt for cash if you are 100% sure you are okay parting with your gold valuables. Once the deal is done, then your gold valuables are gone forever. If you have any hesitation, or if the items have a great deal of sentimental value, then go for the gold loan instead.
Free Evaluation
Gold dealers offering you ‘cash for gold’ should be offering you a free evaluation of all the precious items you bring. This is necessary because it is the first step towards a mutually beneficial exchange.
Transparent Transaction
Transparency and accuracy are necessary for any legitimate exchange. Gold dealers offering you cash or a loan for your valuables are doing so with a profit in mind, but that doesn’t give them the right to fleece you. Avoid this by asking questions about the current gold rate and contrast that with your own research. Also, ask about how much they are offering for your valuables. The more transparent they are, the more questions they will answer.
Have Realistic Expectations
Don’t expect any dealer to provide you with the selling price of the precious metal. It will be less than what you paid for it, so be ready and have realistic expectations.
If you are selling your gold valuables, then it is likely you are in a time of need. You need to get the best value for your gold valuables. You can’t afford to be taken advantage of. That’s why it is important to carefully evaluate your situation, do your research, and set realistic expectations about what you will get in return. Only by doing this can you lessen the stress that you are already under.