Be Careful When you Sell your Cash for Gold

There has been a lot of news coverage lately on people that are using the cash for gold services (you know the ones that are advertised all over on television). They are sometimes giving you a ridiculously low price for your gold. Sometimes you are getting pennies on the dollar for your hard earned trinkets. We’ll give you some links later on to find some further information. Here are some things to keep in mind.

1. Try local dealers first - believe it or not pawn shops will give you a good rate for your gold. The benefit of doing things local is that you will not have to send your gold in an envelope and find out what they will offer you for it. You will immediately find out what they will give for your gold.

2. Don’t accept the first offer, just like you should do when your buying a car, shop around for the best deal. It also doesn’t hurt to pit the potential gold buyers against each other. You could say, “Well that’s a pretty good offer but the shop down the road offered me this much for it… can you beat that price.”

3. Gold prices aren’t steady but they fluctuate. The price you’ll get for your gold is based on that price. You can find the latest gold prices here. If things are trending down, then it may be a good idea to wait until they are starting to trend up. The trick of course is to sell it when it is at a peak.

Here are some links to the news coverage we were talking about.

http://consumerist.com/cgi-bin/mt/mt-search.cgi?blog_id=1&tag=cash4gold&limit=20

Enjoy your day.