Online Metal Trading Guide A guide about trading precious metals online plus tips & tricks

Gold Scams

Cash for gold scams. Tricks to protect yourself against online scams

For someone who hasn’t sold gold before it will not be so easy to find a reputable gold buyer. If you never sold gold online before you can easily fall in a gold scam trap. Because there are so many sites offering you cash for your gold, it can be hard to decide which one to choose.

First of all you need to be very careful at every step and do researches before you get involved in any kind of transaction. If at any moment something will sound like it’s too good to be true it is best if you don’t go any further.

Tricks to protect yourself against online gold scams and find a reputable online gold buyer

If you don't want to get ripped off by a gold scam you should read the following tips. This can help you decide over a buyer.

Most of the reputable online gold companies have an online gold calculator which helps you to get an idea about how much your gold worth’s. You must always make an evaluation before you send the gold to anyone. A gold scam will never offer you a gold calculator because they don’t want you to now how much you’re gold worth’s, that way they will pay you a price below its actual value.

Make sure that the online gold company is offering you insurance! This is important because you have to send the gold item through the post. If the company won’t offer you any kind of insurance this can end up bad. Just imagine what will happen if the gold will get lost in the shipping? You will be left with nothing at all. A gold scam will never offer you insurance, or if it does it is a very small amount. A reputable company can offer up to $5000 worth of insurance, which will cover you in case of anything happens with the shipping.

Always check the reputation of the online gold company! An easy way is to use the internet where you can find many reviews just by doing an online search. You can also surf the forums because you can get good reviews from people who already experienced the online gold dealing.

Make sure that the online gold company will offer you a guarantee in case you are not satisfied about their service. This means that after you send the gold to them in a prepaid envelope they send you a check based of the gold evaluation. If they offer you a guarantee, you have a time of period in which you can change your mind in case you are not satisfied about the received amount of money. A scam company will never do this.

Pay attention to how much are they willing to pay! After you made your own evaluation based on the weight, karats and the current gold price, compare it to the price offered by the online gold company. A scam gold company will try to confuse you complicating pricing structures. A reputable company has nothing to hide about their price which it should be set according to the official weight measurement system and the official spot gold price.