You can walk into gold buyers and jewelry stores and sell your gold, but I have found that there is a higher profit to be made  selling your gold online . I am not sure why, maybe because the physical stores have such high overheads, or they just want to see a bigger profit, but why line their pockets?. Check out the gold scrap online.

This can be broken jewelry as well as wearable gold. Don’t throw it away because the chain is broken. You could be sitting on some extra cash.

So, go through your jewelry boxes, or through your house, or your dresser, where you threw that broken gold chain. Then take a look online and see what you can get for  selling your scrap gold .

You could also consider buying and selling gold scrap for extra cash. Get yourself familiar with the online prices of gold and and you will be able to spot a deal right away.

This is a great way to make money on the internet without having a website, ads, or affiliates, with no cost to you, other than a listing fee.

Scour the estate sales, bazaars, garage sales, and you will be amazed how many people will have broken gold jewelry for sale for quite cheap, since it will need repairing, and they don’t always realize that there is value in the gold chain itself.

So, get out there and turn your new hobby into a business and buy and  sell your gold scrap .

Cash for Gold USA Insures Packages

Cash for Gold USA, the leading online gold-buying service, has announced a partnership with FedEx that will double the speed at which it puts money in the hands of its customers.

Gold-Buyback Company Partners with FedEx

Cash for Gold USA, another company that offers consumers the chance to mail in unwanted gold jewelry for money, has entered into a partnership with FedEx in an effort to improve customer service.

Medical Uses of Silver in Ancient Times

Silver is probably the most versatile metal in the world. It’s hard to think of another metal which can be used in so many ways.

Cash for Gold USA Gives Breast Cancer a Walk for its Money

Cash for Gold USA is a safe, reliable site for sellers looking to turn their broken and unwanted gold jewelry into cash - without long delays or slow payments. Cash for Gold USA (As Seen On TV) is endorsed by the Better Business Bureau.

Author: Diane Palmer

http://www.make-crafts-for-cash.com/goldscrap.html buy and sell your scrap gold jewelry or pieces online and make money. Click on the link to see the activity with scrap gold right now. This is a great hobby or small business to start. Article and website by Diane Palmer

Article Source: http://EzineArticles.com/?expert=Diane_Palmer

Technorati Tags: how sell gold, sell and buy gold, selling gold coins

You know the items I’m talking about; that broken chain you intended to fix, or the ring that got squashed and you never got around to taking it to the jewelers. Now that you have that new ring, it really seems pointless to spend money to fix it.

Whether you decide to repair it or not, one thing is certain. You’re quite likely sitting on a gold-mine (pun intended).

Rather than let all of those old discarded gold items sit, while you procrastinate, why not take that old jewelry and turn it into cold hard cash. There are many types of scrap gold that can be sold to buyers, and it is very likely that those old earrings, those two broken watches, and that broken chain are worth more than you think.

In this article we will look at scrap gold, and how you can cash in on it!

10 Scrap Gold Ideas That You Can Cash-In On

To begin, let’s look at what types of gold the scrap gold buyer wants. The truth is that buyers will be interested in anything that is made of 9kt - 24kt gold. But simply knowing that isn’t enough. Scrap gold tends to turn up in the oddest places. Having a few ideas of where to look is a great way to get started.

To help you in your quest for the gold, here are ten ideas that can line your pockets with some extra cash:

1. Broken gold jewelry: That squashed ring, that old tie clip, or that broken bracelet can be sold as scrap gold. Even though you intended to fix it, most people never do.
2. Tangled / damaged gold chains: We’ve all had twisted chains that we couldn’t untangle, or the one with the missing clip. They can be sold to gold buyers.
3. Unwanted wedding / engagement rings: He cheated on you, the weddings off! Don’t just pawn that ring. Turn it into scrap, and then tell him about it!
4. Gold jewelry with missing stones: With the diamond missing, are you really likely to wear that old ring?
5. Unmatched gold earrings: Very often found lurking at the bottom of jewelry boxes.
6. Gold coins / sovereigns: That old gold coin, if in mint condition is worth money by itself. Poorer examples however are best sold as scrap.
7. Gold bullion: Some people really do have gold bullion lying around. With gold topping record prices, there has never been a better time to sell.
8. Dental gold scrap: At 14.8kt minimum (62% gold), those gold fillings you had removed are valuable. Why keep them when you can turn them into cash?
9. Gold Pins/Brooches: That old brooch that you never wear, or that memorial pin that has sat there for years are both worth money.
10. Gold Wire/Screen or Mesh: A common product used in jewelry making. Those odd scraps soon mount up!

How do I go about it?

After you’ve sorted through those old jewelry boxes, and found your scrap gold stash, turning them into cash isn’t difficult at all. Most scrap gold buyers will purchase your gold by the gram. That small handful of unwanted jewelry can really add up.
You can sell your gold to your local scrap gold dealer, or choose one of the online buyers. You will want to take the time to research pricing. There can be a wide variance in the amount buyers are willing to pay. With the local dealer, especially, their higher overhead may lead them to give you less for your gold.

However you choose to sell your scrap gold, one thing is certain, that old jewelry you thought was junk will be much more useful as a wad of cash in your wallet!

Cash For Gold

But the good thing about selling in town is that you can decide on the spot if you’re being offered enough… you can shop your gold around… and you can haggle. If you don’t want to deal with that, online places like "Cash 4 Gold" …   

Instant Money for Broken Gold

Meanwhile, other skittish investors got in when gold was high, and are also selling. Therefore, more are selling than buying, causing the price to drop.

Selling Gold, Silver, Diamonds & Jewelry

Have you seen those commercials for Cash 4 Gold and wonder what it was all about? Cash 4 Gold allows you to turn scrap gold, silver and platinum into money.

Author: Philip J Williams

Gold-Traders (UK) Ltd is a leading purchaser of scrap gold and gold coins. Instant valuations are available via the online calculator and payments are normally issued within 24 hours of receipt

Article Source: http://EzineArticles.com/?expert=Philip_J_Williams

Technorati Tags: sell gold jewellery, where to sell gold coins

You can walk into gold buyers and jewelry stores and sell your gold, but I have found that there is a higher profit to be made selling online. I am not sure why, maybe because the physical stores have such high overheads, or they just want to see a bigger profit, but why line their pockets?. Check out the gold scrap online.

This can be broken jewelry as well as wearable gold. Don’t throw it away because the chain is broken. You could be sitting on some extra cash.

So, go through your jewelry boxes, or through your house, or your dresser, where you threw that broken gold chain. Then take a look online and see what you can get.

You could also consider buying and selling gold scrap for extra cash. Get yourself familiar with the online prices of gold and and you will be able to spot a deal right away.

This is a great way to make money on the internet without having a website, ads, or affiliates, with no cost to you, other than a listing fee.

Scour the estate sales, bazaars, garage sales, and you will be amazed how many people will have broken gold jewelry for sale for quite cheap, since it will need repairing, and they don’t always realize that there is value in the gold chain itself.

So, get out there and turn your new hobby into a business and buy and sell gold scrap.

Instant Money for Broken Gold at Cash 4 Gold

For the most part, gold was flat today, and has been recently. Gold rose to $910.70 last Wednesday after falling below $900 an ounce, and has spent the past week navigating around the current figure.

Selling Unwanted Gold Jewelry For Cash

Record high precious metal prices are attracting buyers and sellers of old gold jewelry. With the economy in near-ruin and slumping home values, old gold has become the new standard once again.

Putting Money-for-Gold Offers to the Test

With gold trading around $1000 an ounce these days, are you looking into your jewelry box wondering if you see some fast cash - maybe even a lot of cash?

Author: Diane Palmer

http://www.make-crafts-for-cash.com/goldscrap.html buy and sell your scrap gold jewelry or pieces online and make money. Click on the link to see the activity with scrap gold right now. This is a great hobby or small business to start. Article and website by Diane Palmer

Article Source: http://EzineArticles.com/?expert=Diane_Palmer

Technorati Tags: gold refiners, scrap gold buyer

The price of gold is at record highs, going for $31.52 per gram and seems to be rising. Recently I have seen many commercials on television and advertisements on the internet saying you can send in your unwanted gold jewelry for cash. I was a little curious and also skeptical on this concept, so I decided to research this way of getting some quick cash.

In order to sell your gold jewelry for cash, you normally need to follow three steps:

1.Request your gold jewelry return kit by completing a form online or calling the company’s toll free number.

2.Place your gold jewelry in the pre-paid envelope they provide and mail it back to the company.

3.After your material is processed, the company will either send you a check or deposit your money into your checking account within 24 hours.

These "mail in your gold jewelry for cash" companies usually will guaranty against loss of the total contents properly shipped to them, but of course certain conditions apply. If you are dissatisfied with the amount you received, or if you change your mind about selling your jewelry, some companies will return your jewelry within 10 days of the date on the check they sent you. Some companies allow you to track the status of your order by using an online feature, which provides you instant access to their database.

Of course there are other ways to receive cash for your gold material. Pawnshops and jewelers will buy your gold for resale, but the value for your gold can vary from store to store. Since some companies buy gold jewelry for refining and not for resale, their prices are based solely on the weight and karat grade contained in the gold, not on its potential value if resold intact. Overall, using a "mail in your gold jewelry for cash" service appears to be a good choice in turning your gold jewelry in for cash, both for convenience and cash amount received back.

Instant Money for Broken Gold at Cash 4 Gold

That game is over. So now people have to go inside their home and find things to subsidize their income, i. e., cash for gold." The reason for gold’s rise is that several factors came together in favor of the metal.

Money for Broken Gold

It would not be at all surprising to see markets open next week with a new upward trend for gold, reflecting investors taking advantage of a quick dip.

Gold at Cash 4 Gold

With unemployment up, the price of gold hitting $1000 an ounce in the last thirty days, and many people outright “spooked” by the economy, you may be thinking it’s a good time to unload some gold jewelry.

Author: Tracy K. Matthews

Information source: Cash4Gold

Article Source: http://EzineArticles.com/?expert=Tracy_K._Matthews

Technorati Tags: 14k scrap gold, where to sell gold

As certain as the flight to gold is, however, equally certain is that there will be plenty of unscrupulous buyers waiting to take advantage of the explosion in gold’s popularity. So if you are considering selling your gold, you need to do your homework. Don’t fall for those late-night TV or online ads by companies who promise to pay you "top dollar" for your gold simply because they make it very easy for you to execute the sale. With a little more time and effort, you may find that selling gold for cash can be far more lucrative if you decide to work with a reputable gold broker in your area.

Why is it that so many people have rushed into selling gold for cash from online entrepreneurs? Because those buyers have gone out of their way to make the selling of gold as hassle-free as possible, and because they have made it very appealing for people in an extreme cash crunch to collect the proceeds of their sales in next to no time. They simply provide you with a "sales kit," which is simply a secure pre-paid mailing envelope into which you place the gold you want to sell, and ship it to them.

Once they receive your gold, they will use their "state-of the art x-ray technology" (or something similar) to examine your gold for purity, and will offer you a price based on their findings. This offer may come in the form of a check which you have up to 10 days to cash. If you don’t cash your check the gold will be returned to you. Just be aware that it can take as long as a month before your gold is returned, and you can’t sell it to someone else until it is!

Some of these sites also give you the option of having your proceeds deposited directly in your checking account for a small fee just 24 hours after they test your gold for "purity."

For anyone who is being financially squeezed, however, sitting on a check for ten days can be very difficult. Even more difficult is the prospect of saying no to having cash deposited in a checking account in just 24 hours. There is a significant amount of psychological pressure at play here. If selling gold for cash is something you want to do, you deserve to know what your other alternatives are.

It won’t take long for you to approach a local gold dealer. Estate appraisers will usually be willing to give a few gold items a quick look at no charge. If you’re trying to sell gold jewelry, it might not be in good enough condition to get a premium offer, but could still earn you some money as scrap metal. Just be sure to remove any gemstones from it first, because there is also a market for them.

Don’t be embarrassed to turn down the first offer you get. Most gold dealers will lowball you with their first offer, and if the demand for gold continues to rise, they’re going to lose out if you take your business elsewhere.

Finally, if selling gold for cash is something you absolutely have to do, here are a few tips to help you weed out the shady buyers:

• Run a Google search with the name of the companies you’re looking at and add the word "complaint" or "scam." It’s the quickest way to find the bad guys.
• Visit the website of the Better Business Bureau, enter your zip code, and the name of the gold buying company you are considering. If no one in your area has filed a complaint against them, you can follow a link to a page with complaints from other areas.
• Find out if the gold dealer will offer the same price per ounce for small amounts of gold as they do for large ones. Many of them don’t, but will only advertise the higher prices offered for large amounts.
• Find out if you’ll be charged a fee to have your gold returned. Also make sure that your items will be insured both ways.
• Make sure that the company has a record of guaranteeing that they will accept returned checks from customers who are unhappy with their prices. Make sure that they also have a proven record of making cash deposits to their customer’s checking accounts in the advertised time.

None of us wants to be in the position where selling gold for cash is critical for financial survival. If you are, however, you deserve to protect yourself!

Gold News

Back then, the Gold Price had been tumbling for the best part of two decades – thanks first to those double-digit US rates, and then to the fast-growing number of high-return alternatives for investment cash that sprouted worldwide.

Gold About to Burst Out of Its Recent Trading Range

The U.S. Mint sold four times as many American Gold Eagle coins in January 2009 as it did in the same month a year ago. This is following the trend established last year when sales of the Mint’s one-ounce American Eagle gold bullion coins rocket… 

The First US Silver Dollars

After the Coinage Act of 1792 was passed, the United States Mint started to produce the first US silver dollars from 1794 up to 1803.

Author: Benjamin King

To get the best payout for your gold, diamonds, silver, watches, or other jewelry, the author recommends Jewelry2Cash, a mail-in firm that helps customers get cash for gold in San Diego and nationwide. Jewelry2Cash also offers a comprehensive gold selling guide

Article Source: http://EzineArticles.com/?expert=Benjamin_King

Technorati Tags: how to sell gold, scrap gold prices

"People are looking for the best places to get cash for gold jewelry" says Warren Price of a Seattle’s North pawn industry. "The dollar is down. Stocks are down. People need cash and you can safely sell your old jewelry for 3 times more now than just five years ago." Sellers may get only $130 for a 10-gr .35 ounce 14-karat necklace but it is at the highest price than ever before. This is the right time to sell. Pawn brokers report people are raiding their jewelry boxes and bringing in old scrap jewelry. People of all walks of life are taking advantage of this opportune time. The selling of gold is up 50% from last year.

"A young woman walked in and said she couldn’t pay her rent," Price said. "So she sold an old gold coin her grandmother had given her." She pocketed $984 and walked out relieved having had the option to get a good price for her gold coin.

It is no surprise that sellers are taking advantage of the record high. Since interest rate cuts by the Federal Reserve could send the dollar yet lower. As the dollar falls, precious metal prices typically rise. Gold sales volume has shot up 8 times in recent weeks. The larger trend is the peak in interest from refiners who are buyers.

So where is the best place to sell gold jewelry? Many online refiners have sprouted up making the decision more difficult. A recent Fox News investigation put some of the better known "sell cash for gold" companies to the test.  But the decision should be yours.  Do research and find the best company for you.  Clearly that company will be best place to sell gold jewelry and scrap precious metal.

1804 US Silver Dollar

The 1804 US Silver Dollar is much storied coin. One of the rarest coins in the world, there’s much that fascinates the numismatists, as well the others. 

Yesterday’s Jewelry is Now Your Ticket

The price of gold was significantly lower when most old jewelry was manufactured and sold. Now, with gold prices skyrocketing toward an all-time high…

Fed Destroys the U.S. Dollar, Gold and Euro Soar

Recycled metal – originating from gold-jewelry owners taking profits to raise cash – began pouring onto the international market in mid-2008 as prices rose amid the global economic slowdown.

Jon Nadler who is an analyst at Kitco Bullion Dealers in Montreal expects by summer that the dollar will begin to recover and gold will return to stabilized level of $650 - $750 an ounce. This will make the window of opportunity for people to get the best cash when they sell unwanted gold jewelry and coins. It may not bring riches but it could bring financial stability to those who need money quickly.

If one is looking to sell broken gold jewelry and make some cash in the process, they would be best served using a trusted service.

Author: JM Williams

JM Williams http://www.cashforgoldus.net

Article Source: http://EzineArticles.com/?expert=JM_Williams

Technorati Tags: scrap gold buyers, where to sell gold jewelry

A few weeks ago, a friend asked me how he could make some money to buy himself a new shining hi-def 50" lcd without giving up on anything and keeping his wife. After I did some thinking, I came up with this wonderful idea. I told him: "hey Jeff, you can sell your old unused jewelry for big bucks online"!

But than came the long exhausting process of choosing the right company for this. Since there are about 50 cash4gold and money4gold programs online and surprise, surprise, they all claim to have the best service and quickest and highest payouts in the market.

After reading some reviews, forums, checking their websites and talking to some friends, we found the best one and tried it out. But before filling the online form we’ve also called their support number which is an 888 (free) to confirm they’re real, read their "about us" page that claims they have been around since 1985 and read their users testimonials. The other part that we liked was that it is one of the "as seen on tv" lineup that never lets me down.

This got our attention and after a few days, we received big big bucks for the old dusty gold we didn’t need anymore and bought Jeff the tv he always wanted.

Beware of scams, always be informed.

Gold Price and Currency

Democratic leaders to introduce legislation to tax bonuses from companies getting $5 billion or more in government bailout funds. House Democratic leaders. 

Guests Swap Old Jewelry for Cash

The guests at Cheryle Podgorski’s "gold party" were there to trade in their old jewelry for cash. Gold parties - the recession answer to Tupperware parties - are popping up around the country as people cast about for ways to raise money.

Cash-for-Gold Businesses Become More Popular

Many are hitting up ‘cash for gold’ businesses and pawn shops over the last few months as the economy sours and the price of gold remains high. 

Author: Mike Jacob

Anti Scams Info is your guide to educated purchases. Daily product review about anything you like that will help you avoid scams and keep you Anti Scammed - Click Here For More About Making Money Selling Gold

Article Source: http://EzineArticles.com/?expert=Mike_Jacob

Technorati Tags: buy scrap gold, how to sell gold jewelry

While, as far as your fashion sense is concerned, that old jewelry might have lost its luster, it may be more dazzling than ever as far as its monetary value is concerned. Collapsing stock markets always mean soaring gold prices, and today’s struggling market is no different. While deciding to raise cash with your old jewelry may not make much sense in some economic climates, this most definitely is not one of them! The price of gold and other precious metals has risen so much, in fact, that continuing to hang on to your old jewelry in anticipation of further price increases really doesn’t make much sense - especially if you need cash urgently.

The only negative aspect of selling old jewelry for cash in such an economic environment is that whenever the price of precious metals rises as much as it has in recent months, many unscrupulous entrepreneurs use the higher prices to take advantage of people’s need for money. They make offers for old jewelry which are far less than what it is actually worth. If you have decided that selling old jewelry for cash is one way to help yourself out of your financial difficulties, you may benefit from some advice on how to go about doing it.

Begin by listening to what the Better Business Bureau has to say about selling old jewelry for cash. They claim that, as far as gold purchasers go, you’d be wise to avoid any company which puts a lot of effort into advertising their gold buying services in late-night infomercials. Almost all of those companies have websites where you can make arrangements to sell your old jewelry, and those websites have received more complaints in the past 18 months than any other companies which purchase jewelry.

Most of these online companies, however, appeal to those who are the most desperate need of cash. They offer, for a small fee, to deposit the amount they’re willing to pay for the old jewelry directly into the seller’s checking account within 24 hours of receiving and examining the jewelry. They also will offer to pay by check, and allow the seller 10 days to decide whether or not to cash the check. If the seller decides the price isn’t good enough, he or she can simply return the check and hope that the jewelry will likewise be returned. It may take as long as 30 days for the jury to be mailed back, and that’s 30 days during which it can’t be sold to someone else.

Another way of selling jewelry for cash which is rapidly gaining popularity is the gold selling party. New twists on the Tupperware party concept, gold selling parties are ideal for anyone selling old jewelry for cash, but they are even more lucrative for the people who hold them. You can bring your old jewelry, or anything else you have with gold content, to a gold selling party where it will be evaluated by either a professional gold buyer or by a host who has purchased a gold selling party kit. A gold selling party kit contains a scale for weighing the different items, a device which will enable you to determine the percentage of gold in each item, a list of how much you should pay for different items, and an assessment of how much you can reasonably expect to profit. If you decide to act as the buyer your own party, however, keep in mind that the party kit will usually cost in excess of $500.

If you decide to simply host the party and invite a gold buying professional, you’ll get a commission (about 10%) off the top of whatever your guests make by selling their old jewelry, and you may also be a reimbursed for the cost of any refreshments you have provided. If you’re not interested in hosting a party, but intend to try selling your old jewelry for cash at one, remember that you’ll be paying the commission.

The easiest and safest way to sell old jewelry for cash, however, is to simply call around to the professional jewelers in your area and ask them if they buy old jewelry. Simply collect all the jewelry you intend to sell and take it to each of the jewelers interested in purchasing it. They’ll run it through a few basic tests before making their offers. Shop it around until you find it offer you like, and don’t be afraid to negotiate because the first offer is almost certainly going to be a rock-bottom price!

The Cash For Gold Test

You’ve seen the ads - cold hard cash promised for your old jewelry. With so many Clevelanders looking for extra money these days, more and more people are sending old wedding rings, necklaces and earrings.

Broken Gold

For the most part, gold was flat today, and has been recently. Gold rose to $910.70 last Wednesday after falling below $900 an ounce, and has spent the past week navigating around the current figure. 

Cash For Gold

You’ve seen the commercials and billboards. Sell your old broken gold jewelry for big bucks. There are even traveling gold buyers in town right now. So what’s the deal? 

Author: Benjamin King

If you want to sell your old or unused jewelry, the author highly recommends Jewelry2Cash, a San Diego based scrap gold and estate jewelry buyer. Jewelry2Cash also offers an informative guide to selling gold and jewelry for cash

Article Source: http://EzineArticles.com/?expert=Benjamin_King

Technorati Tags: scrap gold recovery, scrap gold value

Gold prices are very high and this can be an excellent time to cash in. If you have any gold rings, pins, chains, jewelry, or any kind of gold jewelry that you haven’t worn in years, has a broken clasp, whatever, you can sell it for cash.

Gold prices are at or near all time highs, demand is still rising, for industry and as a haven for wealth. Now you can benefit from all the buyers looking for scrap gold. Online, offline, storefront, gold parties, there a re an unprecedented number of eager buyers looking for your old broken jewelry, silverware etc.

Almost everyone has some old cufflinks or broken earrings collecting dust somewhere. Turning those into cash is easy. Last year it’s estimated over 1,000 metric tons of scrap gold was sold to the refiners. This year might be even more.

Online buyers will send you S.A.S.E for you to send in your gold. They will evaluate it and send you a check. Easy right? Well it may be easy but how do you know if it was a fair price?

Jewelers and Pawn shops usually buy gold and silver, check out the one’s near you and see what they offer. Be careful, many will make you buy something or offer you a credit instead of cash.

Gold parties are springing up all across the country and provide a fun interesting way to sell unwanted gold, silver and other precious metals.

Most gold parties are an open house type event. People just drop by between say 12 and 4 on a Saturday afternoon. They bring their items for a free no obligation offer. They have some snacks and talk with the hostess and are free to decide if they want to sell for cash on the spot.

Hosting a gold party will usually get you about 10% of the total amount purchased. If your party has $2,576 of purchased goods, you make a cool $257.60. Not bad, for a few hours of chatting with your friends and neighbors.

Cash For Gold

Selling cash for gold is an emerging trend in Milwaukee and across the nation. Recently Kessler Diamonds and Robert Haack Diamonds have advertised to purchase gold. 

Cash-for-Gold Businesses Become More Popular

Ohar is among those hitting up cash-for-gold businesses and pawn shops over the last few months as the economy sours and the price of gold remains high.

Selling Unwanted Gold Jewelry For Cash

Record high precious metal prices are attracting buyers and sellers of old gold jewelry. With the economy in near-ruin and slumping home values, old gold has become the new standard once again.  

Author: Tim McGovern

For more information on how home gold parties can make you hundreds of dollars in a single afternoon, go to http://MetalMoney.com

Article Source: http://EzineArticles.com/?expert=Tim_McGovern

Technorati Tags: gold kits, recycle gold

Preparing To Sell My Scrap Gold

I chose a small 10 karat ring to send in to company X. In a worst case scenario, I might never see my items again. So this was a way to limit my losses in case that happened.

How did I know the ring was 10 karats? These items will have the content marked or stamped on the item. This is usually expressed in karats but sometimes is expressed in parts per thousand. For instance, if you see 500 stamped on your jewelry, it is an alloy containing 50% gold.

You can find a basic definition of the Karatage system in my Weights & Measures article elsewhere on my site. There you will see that a pure gold item is expressed as 24karats (24K). Anything less and the item is an alloy with some other metal(s). My ring has 10K stamped on the inside so the gold content is 41.66%.

I requested my mail-in kit online and waited for it to arrive. Before sending the ring off, I weighed it to get a precious metals weight of either Troy ounces, pennyweights or grams. Since I didn’t know which of the various weights Company X would use to base their offer on, I wanted to be prepared regardless of what weight system they based their payout on.

Using my handy multi-weight pocket scale (less than $25.00), my ring weighed in at 8.2 grams. Using information in the Weights & Measures article, I calculated that 8.2 grams = .265 Troy ounces = 5.3 pennyweights. Now I was ready: 1) to see if Company X matched one of these readings after weighing my ring; and 2) to convert that weight (if necessary) to Troy ounces to figure out what percent of the ring’s value they paid out.

Results Of My Sale

On Day 1, I mailed the packet they provided back to them with the ring enclosed. After about seven days, I started checking the progress using their online tracking system. On Day 12, after getting messages they still hadn’t received it, I sent them an E-mail asking "where is my ring"? They quickly responded, apologizing for the delay and said my check would be mailed on Day 14 via 1st Class Mail. I received their check on Day 18 for a whopping $12.72. That was with a 20% special bonus.

There must be some mistake!!!!

So I started examining Company X’s figures to try to make sense of it. First of all, did their weight match any of my weights?

Their payment was based on the ring’s pennyweight which was stated as 5.3. So far, so good - it matched my pennyweight result. With 20 pennyweights in a Troy ounce, 5.3 pennyweights equals .265 Troy ounces.

Second, what was the price of spot gold when they "locked in" my price?

They didn’t provide that but checking the price from Day 1 to Day 13, the price averaged about $800 per ounce.

Third, what percent of the ring’s worth did they actually pay me?

By multiplying $800 by .265 percent, I came up with $212.00. If the ring were 24K, this would be the actual value. Since the ring is only 10K (41.66 % purity), the value is .4166 times $212 or $88.32.

The $12.72 check Company X sent me was approximately 14.4% of the ring’s value. They kept 85.6% as their processing and refining fee.

Understanding Company X’s "Logic"

Company X’s return policy states they will return a customer’s jewelry if their check is returned within 10 days. I took them up on their return policy by mailing the check the next day (Day 19). Notifying them in an E-mail that their check was being returned, I told them of my calculations. I wanted to know how accurate my calculations were and what was missing in understanding this tiny check.

Their response was my calculations were "almost accurate". Because my ring required refining, payment was based on a sliding scale. Also, because my total shipment was less than one ounce (20 pennyweight), my payment was in their lowest payout category.

It was then they made a surprise offer…

After checking with management, they offered a price based on the five ounces and higher category. They were willing to send me a check for $28.49 for the ring. That brought the percentage of the ring’s value ($88.20) to 32%. I was hoping for 50% so I thanked them for the offer but asked for the ring back. It was returned on Day 44.

Lessons Learned

If you decide to sell your scrap gold to one of the big companies advertising on TV, or to one of the local jewelry stores now accepting these items, or even attend a "precious metals party" that a friend or acquaintance is holding, consider these steps:

* Get the weight of each piece in Troy ounces, pennyweights, grams or grains.

* Get the purity of each piece which is usually expressed in karats or parts per thousand.

* Find out the current price of spot gold.

* For each piece, get the value by multiplying the weight of the piece (in Troy ounces) by the spot price. Then multiply that result by the purity of the piece.

* You are now better prepared to approach these buyers, understand their offer and negotiate the best possible deal.

Keep in mind that these companies are performing a service and deserve a fair processing fee - especially if the pieces are 24 karat and requires refining. You have to decide what is fair and if you want to part with your scrap gold based on their offer.

Gold News

New CEO Mark Cutifani oversaw gold production of 4.982m ounces for the year; total cash costs for the year were $444/oz, and the irritating hedge book was partially attacked.

Singapore Has A Lot Of Cash On The Sidelines

Cash-on-the-sidelines remains exceptionally high and free liquidity is accelerating. Singapore is a growth-oriented market, while value is a runner-up. Still, the financial crisis of the past year has put a premium on low risk and high stability.

Cash4Gold

"Gold appears to be benefiting both from being the traditional hedge for inflation hawks (some of whom are now beginning to worry about the risk of hyperinflation) and from the mistrust of some investors towards cash assets.

Author: John Ausiman

John Ausiman was a salesman of gold and silver for one of the oldest, most reputable precious metals dealers inthe U.S. He no longer is actively selling precious metals but wants to share his expertise with would-be gold and silver investors. You will find a number of useful articles on gold at his web site http://goldinvestingsimplified.com

Article Source: http://EzineArticles.com/?expert=John_Ausiman

Technorati Tags: gold jewelry buyers, sell gold jewellery