Cash For Gold: Don't Be Skeptical

The history behind the rush for golden pieces is a varied one. For years the United States fixed the value of the popular yellow metal. It remained a certain price per ounce and did not fluctuate. When the United States decided to put the metal on the free market to be bought, sold and traded, the price started to rise and fall according to demand and the value of the U.S. dollar.

The price of that age-old yellow metal continues to change and fluctuate. However, in the last several years it has remained fairly high. This means per ounce it is worth quite a bit of money, making cash for gold a lucrative business.

If you have old 14K chains, broken pendants or brooches, worn-out wedding bands or even coins, it is possible for you to make a few quick dollars. When you take these items to a cash for gold party or business, you wilal in a sense sell them to a buyer who is willing to pay top price for your pieces that may otherwise be discarded or unused.

These items will likely be melted down and turned into bars, which are then able to bought and sold on the international market. These bars are worth a lot of money to the right investor and are often sold for hundreds of thousands of dollars. Which means that every little piece of jewelry that is melted to produce an ounce is worth money to these investors.

When deciding where to sell your items, it is best to choose cash for gold businesses that are either locally owned or nationally very well known. A smaller investor may not be able to give you the best price for your items. Do some research and find out if there is a business in your area that purchases discarded golden jewelry.

Once you find someone that you feel is trustworthy and willing to give you the best price, search through your belongings to start a collection of things to take in. Often the businesses will take yellow or white metal products so do not skip over some of your white 14K pieces.

An easy place to start the search is in your own jewelry drawer. You may think that earrings are too small to add up to much. However, if you have several earrings that have no match or are outdated they can be worth something when combined with coins, chains or heavier products.

So, if you have items that you have considered selling to a cash for gold business, but have always been too skeptical to do so, feel confident in your knowledge. These businesses are not a scam, but a reaction to the current market price for the precious metal. Investors need your unwanted, golden jewelry to melt down and turn into high dollar bars for trading.