Sunday, February 14, 2010

The Three Biggest Mistakes People Make When Selling Gold Jewelry

I have been studying this market for several years, and my experience has been that people who sell gold jewelry for quick cash get ripped off over 90% of the time! They are usually in situations where they have to have the money so badly that they are more concerned about what's going to happen if they don't get their hands on some cash than they are about the fact that if they had taken a little time to research the market, they could have come out winners, like those other 10%!

The first big mistake people make in selling gold jewelry is that they take the first offer someone gives them. The first time a jewelry store or pawn shop opens their cash drawer and pulls out some cash, they are willing to take it, walk out, and count it later. Not good business. Moreover, it should be noted that pawn shops are not the only ones who rip people off- even jewelers who are supposed to be well-respected seem to evaluate the wit of the seller rather than the weight and purity of their scrap gold. These dealers will usually lead with questions like, "Well, what'd you think it's worth?" or "How much were you hoping to get for it?" An honest dealer would tell you up front what he pays, before he even sees the material. A person could save a lot of time by just calling around and asking store owners what they pay. If the answer is "Well, you'll just have to bring it in so we can take a look at it..." then you should look somewhere else.

The second mistake people make when selling gold is that they just don't do the due diligence when getting ready to sell it. They should go read some FAQ's about how gold is evaluated so they have a rough estimate of what their items are worth to begin with. Several sites like the link above will tell you EXACTLY how to evaluate your items, and you can usually get a pretty good idea by following the simple steps. This is really not hard, but it is almost always skipped by someone who needs money badly.

And the third mistake people make when they decide to sell gold jewelry or gold coins is that they either wait 'till the last minute, when they absolutely have to have the money, or they never even consider how fast they can get their money if they use an online broker such as Augustus Gold and Silver. Augustus can receive your package within 3 business days, process it within 24hrs, and have your payment on the way by the 4th or 5th day from the time you drop it off at FedEx with their pre-paid Express shipping service. Payments are issued via PayPal, Direct Deposit, or a mailed check.

The jury has reached it's verdict... don't be guilty of making these same mistakes. Check around, calculate the values, and compare Augustus Gold. Call now 866-531-4440, or visit their website at