Saturday, 2 January 2010

Cash for gold scams.

This subject makes me laugh. People bleating on about the prices of gold and how they were duped into selling it for lower than its worth... Well unfortunately ladies and gents, THATS BUSINESS! There is no business in the world that is going to buy something for its exact worth. Maybe antiques dealers, but even then they are going to ask for the best price.

Yes, selling gold for cash is probably going to leave you with less cash than your gold is worth but this is no different to any other business policy. Let’s take a UK supermarket. They sell a 500ml bottle of pop for £0.80 but have only bought it for £0.10p / £0.12p (BIG PROFIT!). What about a DVD/Music high street giant selling a DVD for £14.99 but the supermarket is selling it for £7.99 (BIG CONTRAST!)? A furniture store will produce a sofa for about £100 and then sell it to us for about £1200. The furniture store then try to make us feel grateful that they have slashed the price in their “SALE” from £1200 to £800 (THAT’S STILL A £700 PROFIT).

The point is, don’t get your knickers in a twist about profit margin and what you should be entitled to. No business on earth is going to give you the worth of your gold jewellery. The only thing you can do is shop about for the best deal.

Finally... their is no SCAM, just people in business who want to make more money from you than they should. If people are prepared to carry on using them... they will continue to do business. Thats not their fault but yours for not shopping about. DO YOUR RESEARCH!

Friday, 1 January 2010

More cash for a higher grade carat.

There is no gold which is 100% pure. The closest for common jewellery is 99.90% or 999 fineness. Obviously the higher percentage of gold the more money your gold jewellery is going to be worth.

CaratFinenessPercentage of pure gold


How can I tell if my jewellery is real?

High grade gold, silver and platinum do not contain enough metal in their alloy for them to stick to a magnet. Before sending your jewellery to a gold to cash converter, simply run a fridge (or any other) magnet across the item. If the jewellery sticks then it’s probably not real gold and should not be sent.

Some jewellery will contain a hallmark. Even though this is an official stamp, it can be forged. Quickly run the magnet check as explained above before sending any jewellery or gold items away for gold to cash conversion.

Thursday, 31 December 2009

Post your gold or High street retailer ???

When it comes to selling your gold for cash, you can either pop into your local shop or send it away in a freepost envelope. Before you do either, make sure you compare the market for the best prices for gold. Most high street retailers who buy gold will have a website online to check out. The internet is the place to do all your gold price comparisons. To date, I have not found a legitimate website which compares many gold buyers and shows the best rate. The only chance you have is to use each websites online gold carat calculator to estimate your best options. Yesterday, one website told me that 1 gram of 9 carat gold would fetch £8.23. Today, another website said the same weight and carat would fetch £6.60. The key here is to spend a little time making sure that you find the best retailer to sell your gold to. This could be the difference between a win fall and a rip off.

Don’t worry if one retailer will not buy your old platinum or silver. If they do the best price for gold, still send it to them for cash. Find a different website who will take you platinum or silver remembering not to jump at the first buyer you laid eyes on.

Wednesday, 30 December 2009

Britain's teeth brace for investment.

There are hundreds of people in Britain getting fitted with gold braces. The reason... as gold prices climb they are left with a small investment. Once the braces come off... KERR CHING!

Although profitable, please don’t start removing gold teeth or braces manually. Get a professional so you can keep on smiling whilst spending your dosh!

Cash for your old gold

Dont worry if your scrap gold does not have a hallmark. Most companies  are experienced buyers and will determine the carat for you and contact you with the exact value.

Make sure when selling your gold that you compare the market for the best deal available. Dont rush into a quick sale.