Gold has traditionally been a bellwether of volatility in financial markets. With financial markets faltering worldwide, chances of a double-dip recession in the US and fickle ratings for European debt-laden nations, gold prices have soared as investors flee rocky economies for safer havens. This is the time when a lot of investors would be thinking of cashing in on their long-held gold investments. However, it is essential that certain guidelines be followed scrupulously lest your exit strategy fail to reap the desired dividends.
Getting the right price for selling your gold is of paramount importance, but one should be careful to avoid getting scammed by an unscrupulous buyer. This is the time your investments mature and reach their peak values and therefore it would be prudent to exercise caution here.
While online trading of gold has reached an all-time high, it would still be advisable to get in touch with local dealers to sell your gold; those who would be able to arrange confidential, face to face meetings. Valuations would also be potentially more accurate for your scrap gold, jewelry and any other precious metal holdings. Local dealers can generally be found by searching for local businesses on Google, in Maps or scanning local advertisements.
Local companies that specialize in buying and selling gold and silver items are the best way to get the most for your goods while feeling comfortable that you are not being taken advantage of. It’s important for you to be able to not only get to know the person or people you are dealing with but also see the process of evaluating the gold and silver as they do it. This way, you as a seller can be informed that not only are you dealing with a reputable company who specializes in the gold and silver industry, but you can also learn about the process so that future sales are handled with ease.
These steps may be followed to ensure greater reliability when selling your gold:
Testimonials and personal referrals outweigh many other considerations. A happy, satisfied customer would automatically advise his/her friends and family to go for the same service.
Online review sites are a good source of information on trustworthy businesses and also give an indication of the fairness of prices offered by these dealers. A word of caution however; look for a fair number of reviews and the average rating and donâ€™t get swayed by scattered glowing reviews. Also it would be advisable to scour good sources through Google or Yelp.
Clarify beforehand if your dealer is calculating your gold weight in penny weights or grams. Be sure to insist on your right to know the value of your investment in grams, nothing else.
Another way of making sure of the reliability of your local dealer is looking for one who has a store front. The dealer should also be listed in all the usual locations such as Google Local Business(â„¢) and local super pages.
In this age of information overload on the internet and a vast number of people leveraging online forums for their views to be heard, it shouldnâ€™t be too difficult selecting an honest, fair trader for selling your gold that will give you good value for your investments.