Friday, December 10, 2010

How To Not Get Ripped Off Selling Your Gold

Many different companies claim that they will give you the best price for your gold. It has been proven by mainstream news that they actually give you pennies on the dollar. They bank on you not knowing the real value of your gold. If you do not want to get ripped off by companies of this type, then here are a few tips that may help you get the best price.

  • Know the retail value of your gold items.
  • Know the melt value of your gold (changes based on the karat)
  • If it has personal value to you, you will never get the price you want.

The Better Business Bureau has recommended some companies that they feel are your safest bet. However, the Better Business Bureau has also been in the news for giving companies a higher rating, if they "pay their fee". This is a shady business practice in itself, and goes against everything the BBB is about. They are supposed to grade or rate a business based on the complaints they have received about them. At any rate, here are the companies that they recommend...

  • Empire Gold Buyers
  • Gold Fellow
  • Pro Gold Network

It is also a good thing to remember that your local pawn shop, and jeweler will also buy your gold at 45-80% its retail value. Which is a really good thing. In any case you should have them check out your gold to get a price of reference before giving your gold to anyone for a price. Luckily most places that will have you send off your gold for money, will ask you if you accept before actually giving you a check. Some of the companies give you pennies on the dollar and wait for you to complain. Be informed. Get the best overall price for your gold, no matter who you sell it to.

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