Selling Your Gold

So, you have seen all of the commercials about companies buying back gold. They want your gold and they are claiming that they will pay you well for it. With budgets tight this Christmas, you might be considering selling your gold. Here are a few things to think about before you do.

Why would these companies want your gold? Because gold is valuable even when dollar bills aren't. Gold always has value and that is why the U.S. dollar used to be fully backed by it (the U.S. no longer has enough gold to back all of the bills circulating). With the worries about a recession and possibly a depression, gold would be a currency that everyone would look for.

Gold does not lose its value, so how likely is it that these companies will really give you what your gold is worth? Remember that old saying that says "If it sounds too good to be true, it probably is." Keep that in mind when considering selling your gold. Many jewelers could take a look at your jewelry and tell you an estimate of what it is worth. This could help you compare to what other companies are offering you.

Another problem is that the gold buying companies ask for you to mail them the gold and then you receive a check. You do not buy things on Amazon and pay for it after you receive the product. This makes some companies a little sketchy. It also makes it much easier for you to get ripped off. And I don't know about you but I am completely uncomfortable with mailing gold in a marked envelope that has the company's logos all over it. It basically screams, "Steal me!"

I do not know anyone who has actually sold gold to these companies. There might be a good reason for this. But before you make any decision about selling your gold, please do some research on the Internet about the company. Do not just take their testimonials on their website, but look for other sites that have information about the company. Do not trust the company's website for face value.

If you would like to still sell your gold to a company make sure you ship it well. You may consider not sending the gold in one of their designated envelopes, send it in an unmarked package. Get Delivery Confirmation from the post office when you send it and if you are sending a good bit of gold you might want to consider the insurance option. Good luck with your gold!