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

Rules For Online Gold Selling

Selling gold and silver online can be a bad experience if you are new in this business. Some say that you can get a better price if you sell your precious metals online, others are convinced that you will get ripped off by online gold scams. The truth is there are both pros and cons.

It's true that the number of online gold scams is very high because of the high price and value of the gold. But there also are many reputable online gold companies.

By fallowing few simple rules you can avoid falling in a scam trap and the online gold selling can bring you nice profits. All this can be done from the comfort of your home.

1. Be patient. No matter how much you want to get rid of an unwanted jewelry and no matter how bad you need money, if you rush to sell it to the first spotted online company you risk to be left with nothing or you will get a price much under its real value

2. Find out the value of the gold you wish to sell. Verify the current market price of gold before you sell it. You can use and online source.

3. Find out the gold’s weight. The value of gold is determined by weight, karat and current market price. Jewelers use a standard measurement called troy ounce, gold is measured at 31.1 grams per troy ounce. Gold dealers also use the pennyweight measurement or grams. Get to understand the different scales because dealers can use one type of measurement to weight the gold and pay you by another.

4. Find out the karats of your gold. Usually you find it stamped on the gold item, if to take it to a jewelry store and get it tested.

5. If you have more the two gold items with different karats don’t put them all together. Depending on karat value the price you get for each its not the same.

6. Do more research before you decide to sell to an online gold company. To avoid online scam companies make sure the company you wish to sell to it’s reputable and trustworthy. One way is to read reviews.

7. If the piece of jewelry its an antique or has sentimental value don’t sell it as scrap gold. You may want and try selling it on eBay.

8. Compare the offers. Do not sell to the first buyer you find. Try out the other recommended online companies too, you can make an idea abut how much are they willing to offer before you decide on one.

9. Always ask for prepaid secure envelope and insurance.

10.  Pay attention if the online gold company offers you a gold calculator.

11. If the offered price is much more then you expected and it sounds like to good to be true don’t sell to them, it’s a scam!