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Cash for gold: Is it really your best option? 

Surely you've seen the many television commercials that tout the money you can make by selling your old, unused, and even damaged jewelry to gold buyers. You may have even been tempted to send in that old necklace or ring you haven't worn in years with the thinking that you might as well get something for it since it's not of value anymore as an accessory to your wardrobe. There is nothing wrong with this sentiment; instead the question lies in if cash for gold companies will really give you what your jewelry is worth. 

The answer to this question is not as clear as cash for gold companies would have you think. Independent investigations have found that, while some companies will pay fair market value for your old jewelry, others will try to get away with giving you far less. The cash for gold scam relies upon the customer not knowing what the real value of their jewelry is. Realistically, this is often the case. If someone is thinking about selling a piece of jewelry, it is often one that hasn't been worn in some time. Thus, its original price may have been forgotten or so far outdated so as to be thought irrelevant.

Some cash for gold companies will bank on this lack of pricing knowledge, however, and attempt to pay amounts that are only a fraction of your jewelry's value. These companies are not interested in properly compensating customers for their gold, instead they attempt to capitalize on their customers' immediate need for money. This theme can be seen in many of their commercials, which emphasize the quickness and ease of receiving payment from them, instead of receiving the proper amount.

Cash for gold scams are common and often not easy to recognize without knowing the price of your jewelry. Customers should be aware of other options for selling their jewelry. If you do decide to go with a cash for gold company, shop around to be sure that you are being fairly paid for your goods.









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