Reliable Sources to Buy Gold for Cash

How to Avoid a Bad Buyer

Selling your gold to a reliable source is the best way to get the most cash. A legitimate seller will always ask you for your name, address, phone number, identification and driver's license, because, by law, they have to record your information. The authorities need this information to track down stolen items and for filing criminal reports. According to allthatisgold.com, " If a gold buyer does NOT collect this information from you, run far and run fast away from that gold buyer... ." Remember, the gold-buyer that doesn't record this information is buying gold illegally.

Any reputable buyer will keep gold evaluation devices up front in view of the store's customers. Jewelry and coins don't need to be taken into a back room to be weighed. The size of modern weighing instruments is very small, so a good buyer will always weigh your gold in front of you. If you don't trust the scale, take a nickel out and weigh it. U.S. nickels always weigh 5 grams, anything less than 4.9 grams should raise a red flag in your head. If you are unsure of the purity of your gold, a substance called aqua regia can be used to test the purity of your gold items.

You should always take your gold jewelry to a jeweler first to assess the value of the craftsmanship and to determine if your items have any antique value. If a buyer gives you cash based on the weight and purity of the gold, these two factors (which can drastically raise the value of your items) might not be taken into account. Lastly, determine if the item has any sentimental value attached to it. Obviously, the buyer won't take that value into account.

For a satisfactory result to your gold-selling transaction, keep a few things in mind. Have a good idea of the value of gold at the time you decide to sell. Only deal with legitimate gold buyers. If you have to, ask around to see which seller has a good reputation, or get a referral from someone who has had dealings with that gold buyer. Be aware that you won't get retail for your gold. The buyer has to resell your gold for a profit, so go into the transaction with realistic expectations.