Tags: Money | sell | gold | cash

5 Reasons You Should Sell Your Gold for Cash

By    |   Thursday, 20 August 2015 02:29 PM

Selling gold jewelry can provide quick cash for people who aren't too attached to the memorabilia. Here are five reasons to consider cash for gold transactions.

1. It can be money in a pinch. Especially when economic times are tough and gold prices are climbing on the open market, having some backup funds may provide reassurance.

2. It can be easy. With a mail-in service such as Cash 4 Gold, sellers put scrap jewelry in a prepaid envelope and receive a check in the mail. However, Consumer Reports cautioned that convenience isn't always the most cost-effective, since mail-in companies offered as little as 11 percent of the gold's value.

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3. It can be lucrative. When gold prices climb on the open market, the value of scrap gold increases. The spot price of gold in U.S. dollars per ounce has nearly quadrupled between 2001 and 2015, according to GoldPrice.

4. You have choices. "Consumers have lots of options for selling gold," the Better Business Bureau reports, "including local jewelers and pawn shops, gold parties in friends' homes, pop-up events by traveling dealers, and mail-away gold buying services."

An online sale or auction may the best way, if not the fastest, to sell scrap gold. "By observing comparable auctions on eBay, you can get a good idea of how much your jewelry is worth, as well as the best way to sell it," said AOL Daily Finance.

5. It's environmental. "Gold has been recycled since ancient times," Cecilia Gardner, president and CEO of the Jewelers Vigilance Committee, told BankRate. "Once gold comes out of the ground, it never goes back in. It's used over and over again."

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Selling gold jewelry can provide quick cash for people who aren't too attached to the memorabilia. Here are five reasons to consider cash for gold transactions.
sell, gold, cash
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2015-29-20
Thursday, 20 August 2015 02:29 PM
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