We live in an era where convenience is important. The internet offers this convenience by allowing you to buy, sell, research and do a slew of things without having to leave your home. You can even find gold buyers mail services that will pay you top dollar for your gold.
There are a few things you should consider before you mail your gold to a gold buyer:
- Selling gold via mail often does not involve middlemen. It’s just you and the buyer. When there are middle men in any transaction, it could affect the final price of your gold. The amount of money you should be getting is split between you and the middleman and you might end up getting less than what you should.
- If you decide to sell your gold to a mail order company, make sure you insure your package. Things have been known to get lost in the mail. It might be scrap gold but it is valuable.
- Get the best bang for your buck from gold buyers mail. You should do the following:
- Get your gold appraised. You need to know what your gold is worth before you attempt to sell it, otherwise how will you know if you are being low-balled or offered a price that is not on par with what the market price is.
- Most people will advise you to sell your gold to a refinery to cut out the middleman, however, if you’ve never dealt with a refinery or even know how refineries work, you could end up being lost in the process or misleading jargon.
- Heard of the gold index? Before you sell your gold to anyone, whether it is jewellery, coins or gold bullion you should be aware that they aren’t priced the same way. Scrap gold might be less complicated because the price is derived from the weight of the gold, the karatage and the day’s spot price. Bullion is valued diffently.
- Do not accept the first price that you are offered. Shop around for a better price. Find out which methods of selling will bring you the most money.
- Do some research on your buyer
Not all gold that is sold by the public is melted down. Think about the gold jewellery that is in great condition or world-renowned gold bullion coins. You can resell the former to second-hand jewellers or pawnshops and sell the latter to coin shops. You might get a higher price from a buyer who does not treat all used gold as scrap gold. Check out the business you are selling to. The internet has plenty of information including reviews and ratings for specific mail-in gold buyers. Just because a business accepts mailed in gold doesn’t mean it shouldn’t have a physical address. Find out where the company is actually located; do not settle for a mere post office box number. A simple Google Maps check will help you locate a physical address. Your shipped package has to go to an actual person that is also reachable by phone.
