How To Choose Best Gold Buyer

Buying, selling and exchanging goods is a common activity these days. But when it comes to the buying and selling of old jewellery and gold coins, there are a few things which need to be taken care of. Selecting the right gold buyer is very important. The article includes tips for finding a genuine buyer who offers the best prices for your gold.

First of all it needs to be understood that gold and old jewellery should not be sold to any middle man. And the best way to check that is by asking whether the gold buyer’s company is an actual metals refinery or not. If it is not, then the buyer is definitely a middle man. The problem in selling your gold to a middle man is that he will buy your gold for a cheaper price than its actual worth. He offers low prices so that he keeps a mark-up for himself and sells the gold at a higher price to actual refineries, keeping a profit. So it is always preferred to sell gold directly to a metal refinery.

Secondly, it is very important to make sure that the package you send your gold in should be safe and secure. If the package is lost in the mail, the gold buyer ever takes the responsibility, even if he was not there to collect t at the right time. Plus, some buyers even claim that the package was never received, just as a method of fraud. S ensuring that the package is secure and will reach the buyer safely is very important.

Thirdly, making sure that your buyer is licensed and operating his company in accordance with the state law is also important. The gold buyers should have an AML program and should have the license to buy scrap gold. It is also good to check whether he is a member of Better Business-Bureau and how many complaints have been filed against him. All these things tell you whether the buyer is honest or not, and what is his repute in the market.

Last, but definitely not the least is to find out that when exactly will the buyer make his payment. Well reputed buyers make their payments the very day they receive the gold. They simply decide the price and send away your money. While there are some gold buyers in the market who deliberately delay the payments and if the buyer says that the payment will be sent in a few weeks, it definitely means that something is not right. The payment method is important too because reliable companies pay you through money gram, check, PayPal etc. but fraud companies will always say that the check will only be sent via mail.