With the ever increasing stream of news reports and magazine articles telling us how the gold price is reaching new record levels virtually every day, it comes as no surprise that so many people around the world have decided to finally cash in their gold this season in exchange for some fast money.
Many factors are believed to have contributed to the soaring gold prices, including the global economic crisis, falling interest rates and the rapid depreciation of the U.S. dollar. The awareness about the fact that the gold production is declining has also contributed to the fact that a growing numbers of investors are looking into gold to improve profits.
If you decided that you want to sell your gold for cash there are a number of different ways to do it. If you want to sell a piece of jewellery that is in good condition or that has a historical value, your best option is usually to sell it to a consumer, collector or jewellery store rather than a csah 4 gold company as they look at the gold value rather than the aesthetic value of the jewellery. Almost all cash 4 gold companies have a business model that is built around melting the gold down and selling it and they therefore do not care about the history or aesthetic value of the item.
Low quality jewellery, scrap gold, broken and torn jewellery etc can however on the other side be very suitable to be sold to a csah for gold company as it is an easy effortless way to raise money from your junk gold. Csah 4 gold companies can also be a very good option if you need money quickly and don't have the luxury of time needed to find the right buyer.
It can be a good idea to shop around before you make a decision because there are a number of different cash for gold companies out there who all want to buy your gold. Cash 4 Gold, Midwestgold, Cash for Gold USA, Gold Stash for Cash and Speedy Cash for Gold are all examples of major gold buyer competing or you gold. Some cash 4 gold companies require you to send you the gold to get a valuation while other companies will offer you a estimate over the phone before you send them the gold. Always read the fine print before relinquishing any gold. What will happen if you find their offer to low? Within how many days do you have to challenge the offer and demand your gold back? Which party is responsible for the gold, I.e. if it gets lost in the mail?
There is one more thing you should know before you sell your jewellery to a cash 4 gold company or anyone else for that matter and that is the difference between scrap metal value and fair market value. Scrap metal value or scrap gold value is the price you get for gold that is likely to be recycled, e.g. broken and dental jewellery. When you sell your gold as scrap to csah for gold companies you usually recieve a precentage of the daily spot value, the percentage usually range between 40-80%. The daily spot value of gold is the value of gold traded on the global gold market. Gems and precious stones usually do not increase the value of scarp gold items unless they are really large or of very good quality but even than they normally do not increase value by more than 50%.
Fair market value is the price you would pay for your jewellery in a store and is usually based on what similar jewellery are currently selling for. The market value is affected by a number of different factors and not just the gold spot price that day. The market value is affected by a long row if different factors such as the presence of precious stones, how trendy it is at that time in what condition it is. It goes without saying that the market value of a piece of jewellery often is significantly higher than the scarp value of the metal they are made from, but if you want to sell it to market value rather than the scarp value you will have to wait to find the right buyer.