Advice on the New "Cash For Gold" Phenomenon

These days, everyone wants to trade their gold for cash and cash for gold, so is there really an easy and safe way to rummage through your jewelry box and make a little money? It is really as easy as you think - gold buyers will definitely take any authentic gold jewelry, whether it is broken or in pristine condition and pay you! This is a great way to make a little extra cash in today's tight economic times. To top it off, gold prices are at an all time high, so you can only benefit by trading gold for cash.

The amount of money you can get for your gold pieces will depend entirely on the type of gold you are trying to sell. As you may or may not already know, gold is valued by karat, and there are several types when it comes to gold. The varieties include 24k, 18k, 14k, and 10k gold. The purest gold is 24k, which means it is worth the most. Usually, the karat will be indicated on the clasp of a gold chain or on the inner band of a ring. If you aren't sure, simply have it tested.

In order to easily trade cash for gold, you'll need to deal with a reputable buyer. This will allow you a little protection from scams or theft. All too often people hoping to make a little extra cash will simply send their gold jewelry off to be appraised, never to see it or the cash they were promised again. Don't let that happen to you.

There are options out there when it comes to selling gold. A local jewelry is a great place to get your pieces appraised and tested, but it may not be ideal for actually making a buck. Remember, jewelers are used to paying wholesale prices, so they may not give you the best price. However, you may find that they are the easiest way of selling your old or unwanted gold. If you have a local pawn shop that specializes in jewelry, you may also want to stay away from there as well - they pay the least.

The Internet is also a great way to find places to sell your gold. There is a variety of legitimate online buyers that will send out free kits, instructions, and offer fair prices. Quite often, online buyers will have the best prices because they have less overhead than their brick-and-mortar counterparts. However, should you opt for an online buyer, be sure to do your research first. While there are plenty of legitimate gold buyers online, there are also quite a few scammers out there looking to take advantage of people looking to make a little extra money.

Another option, which has begun growing in popularity in recent years, is to sell your gold at a gold party. Gold parties are safe, fun, and pressure-free events in which you can make quite a bit of money for your unwanted gold pieces. These parties are unlike other home-based parties as there is no obligation to buy anything! Simply sit down with the gold broker, get your gold appraised, and get paid in cash.