5 Tips For Finding A Trustworthy Gold Buyer

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Investing in gold has long been a reliable way of protecting the value of your assets against inflation. If you’re thinking of investing in gold, you may want to check out this money metals exchange review to understand more about which precious metals are worth investing in. It’s worth keeping in mind that selling gold also gives good returns, especially when the value is high. However, people often have a negative depiction of the local pawnshops and cash-for-gold dealers in their area without ever having stepped foot in the store. It is true that some of these places may not conduct business in the most upstanding manner, luckily there are probably many gold buyers to choose from in your city that are reputable. Finding a trustworthy gold buyer is easy by simply using the tips below:

Understanding Gold Buyers and Their Offers

By having knowledge on how a gold buyer comes up with their offer can be a big help in determining whether you are getting a fair deal or not. The price of gold is always changing depending on the economy and selling when the price is high could earn you more money. The gold buyer may advertise their current offers with a percentage. What this means is that if gold is currently prices at $1,200/oz and the gold buyer was offering 75%, you would receive $900 for bringing in an ounce of gold. So why not the full $1,200? This is because in order for the gold buyer to stay in business, they need to make a profit when they go and sell what you gave them, and refiners are making a profit too (the person buying your gold isn’t even getting close to 100%). Sometimes an offer or percentage is not advertised, but by checking the price of gold and weighing your items beforehand, you can still have an idea if you are dealing with a trustworthy buyer.

Check Out Your Options

As it was mentioned above, there are probably a good amount of gold buyers in your area. There are websites available to help you find cash for gold nearby and that is a good place to start seeing what options are available. See what gold buyers are close to your home and check out their website. The business’ websites may advertise their current deal and offers along with provide you with insight on how long they have been in business as well as give you a general idea of the place.

See What Others Had To Say

Sometimes people have an unrealistic expectation of what their item is worth and this can lead to unwarranted negative reviews. It is a good idea to focus on what people had to say about the customer service they received, rather than the price of their item because we all want more money. Another good thing to look for is someone who had received more money than they were asking. While gold is generally straightforward, some businesses buy a variety of items and not taking advantage of someone who didn’t know the value of what they had is an excellent sign of a trustworthy gold buyer.

Ask Friends & Family

The people closest to you can likely give you an honest review if they have used the services of a local gold buyer before. You will be able to have questions answered that the reviews could not, and a conversation should provide more insight that a short paragraph and rating. So, if you do intend to sell your gold and silver, you’d want to discuss with your family as they help you find the best deal. If the person you were speaking with visited multiple businesses, they could tell you which ones not to bother with and save you some time.

Shop Around

There is nothing wrong with taking your gold to different buyers and seeing what they each have to offer. If you are planning to sell this precious metal, you may want to find a buyer who will offer you the most reasonable price. Moreover, you can also take advantage of exchange options that most buyers usually provide. With the exchange process, you can swap gold for gold in another form in the same quantity. But you would be best advised to follow some form of gold testing at home to ensure that you have not squandered your money on ‘below par’ precious metal.

Following these tips will allow you to find the mist trustworthy buyers in your area. Finding a trustworthy buyer is important to ensure that you are getting a fair deal every time you have something to sell, but most importantly is that a trustworthy buyer will likely offer the most money.


About Author

Fiona is a stay at home mum of 3 and a wife to a city banker. In her spare time (when not looking after the kids) she enjoys running, blogging and taking the digs for long walks.