So you’ve decided to sell gold online: How does it work?
Selling gold on the internet is a great way to turn gold coins, gold bricks, old jewelry or even dental items to cash, and the process is easier than it looks. That said, one must be extremely careful of scams, must research and learn who to trust, and must make wise, informed decisions about who to do business with and who to avoid when selling gold online.
The first thing to do to get started making online sales is to take an inventory.
The more you know about what you should be paid, the less likely you are to be scammed into receiving less.
What exactly do you have in your possession to sell?
You can figure out how much your item is worth with just a few easy steps:
• Find the Gram weight of your piece using a gram scale—(or an ounce scale, just multiply by 28.35 to concert to grams). While this seems tedious, it is extremely important to know exactly what you have before trying to sell your gold to a dealer or other party.
• Find the price of gold per troy ounce using Google or another online search engine. A troy ounce equals 31.1 grams, so divide gold price by 31.1 to get the gold price per gram
• Purity can be found by dividing the karat amount of your gold by 24 and then multiplying by today’s gold price per gram.
• Finally, you can multiply the gold price per gram by the actual weight in grams. If you have 10 grams of 10k gold and you calculated the price at $13.09 per gram, then gold is worth 10 x $13.09= $130.9
Keep in mind that though you’ve determined the estimated value of your item, there are other factors involved in the price of an item. Antiquity can increase the value of an item, while brokenness or out-of-fashion appearances can lower value. Bricks and coins are obviously not affected by these changes.
Begin checking prices of similar items
Once you think you have the right value of an item, begin research online gold buyers. The best way to do this is to start with a website that has already done much of the work for you. Find a website that will compare online sellers and offer fair reviews.
This TopOnlineGoldBuyers.com highlights the top 10 cash for gold buyers on the web today, with detailed, informative reviews. Each review has an overview of the company, information about price, description of customer support and a short summary. The websites are then linked to directly from the review and 1-5 stars are assigned based upon the expert knowledge of the author. Most importantly, there are multiple reviews attached to each review—from users who have experienced business with that company. These ratings and reviews are invaluable to the beginning online gold seller. Peruse them carefully.
Choose a Seller
As you research and consider who you would like to sell your item to, keep the following tips in mind:
• Always ask what you will be given for one gram of gold, then compare prices before selling.
• Ask if you will be notified of the value before being paid for the item.
• Never drop your item into a mailbox—insure the package by asking the buyer to recommend a secure way to deliver and send wisely.
• Look for buyers that offer full refunds or other benefits.
For most buyers, the sale process is the same:
1.) Fill out a form online or call the company.
2.) Print a USPS label and send gold OR receive a Gold Kit from the buyer Confirm that this is insured.
3.) Send your package or gold kit to the buyer.
4.) Accept payment (usually within 24 hours) from the buyer.
If you have decided to use TopOnlineGoldBuyers.com, why not log back in to the website to write your own review? A successful transaction with a buyer should leave you feeling richer, happy and ready to offer your feedback to help future sellers.