If you have gold to sell, take the time to find the right buyer. You can avoid a great many headaches by working with a reputable buyer each time you sell gold. This is particularly true when selling large quantities of gold. If you don't have experience selling gold, here are four questions that will help you choose the right gold buyer.
Are Referrals Available?
If you're going to sell your gold, always make sure that your buyer comes with solid referrals. Word of mouth is one of the best ways to sort out the good buyers from the questionable ones. Once you have a referral list, make contact with a few of the people on the list. Ask about their total experience with the gold buyer, including high and low points. The more information you know, the easier it will be for you to choose a reputable buyer for your gold.
Are Appraisals Considered?
When it comes to selling gold, you want to make sure that you get the best price possible. One way to ensure that is to seek out your own professional appraisal. Not only will an appraisal allow you to see how much your gold is worth, but it will also provide you with a starting point for negotiations. Before you choose a gold buyer, ask if they'll consider your professional appraisal during the price negotiations. If they won't, ask them how they determine the value of your gold pieces. If they can't provide you with a clear answer, consider finding a new buyer.
Are Rates Different for Buying and Selling?
If you want to sell your gold, and you've started contacting buyers, make sure you understand the rate scale - the rate they're willing to pay for gold. You also need to make sure that the rates they're quoting are the buying price. You may find that gold buyers have different rates when buying or selling gold. As soon as you're quoted a price, ask if that price is for the buying or selling of gold. That way, you're not frustrated when you find that the buying price isn't what you were quoted over the phone.
Are Payments Provided Immediately?
If you're going to sell your gold, determine how payment will be made to you. There may be times when payment will be mailed to you at a later date, such as with mail-order gold sales. If you're in a hurry to receive cash for your gold, choose a buyer who will provide you with immediate payment.