Times are tough, a lot of people will look for any chance they can to make a little bit of money. Cash-for-gold companies are all over. They are on TV commercials, on the internet, on social media boards, advertised on print media and plastered over billboards. Gold buyers mail offer the convenience of buying gold from sellers like you through the mail. That means that if you have gold items you would like to sell, you won’t even have to leave your home. Sounds quick and easy enough. They sound even more appealing when they offer a big risk, insurance and a promise to return your gold if you aren’t satisfied with their cash offer or you somehow change your money.
With the price of gold holding above $1,500 an ounce, it wouldn’t take a very large haul of gold jewellery to get a decent amount of cash for it- especially when you are experiencing hard financial times. People tend to be a little skeptical about gold buyers mail.
Is it really worth it to send your gold via mail? Will these companies that claim the best prices for gold actually live up to the promises they have made?
The internet is full of companies that offer to buy gold jewellery in any condition for cash, so finding one online should not be hard. However, you should make a list and research these companies one by one.
How do Mail-in gold buyers work?
These are often referred to as online gold buyers. These companies are more interested in the fact that you are interested in getting cash for gold but you don’t want to through the hassle of physically visiting different stores. They are looking for an immediate reaction – that is why they create these enticing TV commercials or fancy websites and make it sound more like they are doing you a favour, offering a service you need.
Don’t fall for the “best price anywhere”, “sell right now” routine. Remember, like stocks and bonds gold can be a form of investment. The best investment strategy is to try and hold your gold for as long as possible. Don’t fall for slick advertising but do your own research about the company and the kind of prices they offer for gold.
You need to know your gold and have an idea of how much you should expect to receive from a gold buyers mail. The higher the purity of the gold, the more money you will get. There are usually middle-men that will stand between you and actual gold buyers. You should make sure that whatever you decide to do. The more people that stand between you and the ultimate gold buyer, the less cash you stand to make. Middlemen undercut the amount you should be getting for your gold.
Word of caution: Insure your mail. If the contents are quite obvious to anyone handling your packages, there is a great chance that your package might end up being “lost” in the mail.
One other thing: Do not accept the first offer you get, you should get multiple quotes and choose the one that is best.
And one final tip: Be prepared to walk away and say “No thanks!”