Due to historically high gold prices, buyers of gold have rapidly multiplied. Selling one’s gold can be a great way of earning extra cash. However, several scams have surfaced in the industry that make some weary of attempting this type of business transaction. When searching for reputable buyers of gold, several factors should considered. Oftentimes, many people make the mistake of choosing companies that promise quick payouts and easy delivery of one’s gold, such as mail-in and online gold companies. The excitement of getting quick cash for one’s gold then overrides the logical verification process every gold company should have to undergo. Abiding by the following suggestions will ensure that one receives a fair amount of compensation for one’s gold.
The first step in selecting gold buyers is to establish reputation and credibility. A quick look in the local Yellow Pages should harbor good results. An internet search for gold buyers in Chicago area can also be performed. Once a list has been formed, recommendations and referrals should be sought. Asking local residents and businesses for their company of choice will give a better idea of professional service and customer care for each. Certain watchdog organizations, such as the Better Business Bureau, can also help the seller make an informed decision. Selecting several businesses to analyze one’s gold is always a good idea. This method will allow the seller to compare prices and select the best one. It is also possible that some businesses might match or beat the price of another if a legitimately lower price is encountered.
Before trips to receive quotes are undertaken, however, some research must be done on the gold itself. The owner should always know what is in his or her possession. The gold should be weighed on an accurate scale. It should also be determined how many karats are in the gold. This can be done by purchasing an assay test. These simple chemical tests can easily reveal how much actual gold is in an object. When visiting different Gold Buyers in Chicago, one should ensure the gold is weighed and tested in one’s presence. Doing this will eliminate malpractice and swindling.
For more information, contact Clark Pawners & Jewelers
