When you start looking around for a gold buyer, one item you are sure to notice is that every company in the business of buying gold promises to pay you a better price that its competitors. A little logical thought quickly tells you that it is impossible for every buyer to pay the best price and that most are either using hype instead of facts, not exactly telling the truth, or in most cases probably do not believe you will check out the competition.
It is a bit too much work to check out every gold buying company and there really is no reason to. A few features of the right kind of gold buyer and the points that show the wrong kind of buyer will quickly allow you to pick the right place to sell your gold.
- Do not send your gold to a business that only works over the Internet. The new stories about gold buyers paying far below market rates for gold almost always are about companies that only work over the Net. These outfits ask you to send in your gold by mail and send you a low value check for your gold. Only do business with a gold buyer that has a physical location. You can still use alternate delivery methods to send your gold, but always use a buyer with a location you could also drive to.
- Work with a gold buyer where buying gold is their only line of business. For a pawn shop, buying gold is just an extra profit line, and the shop may try to maximize those profits by offering you a low price for your gold. For the dedicated gold buyer, paying the best prices is the only way to get referral and repeat customers, which is how this type of company stays in business.
- Work with a gold buyer that will give you a written value for your gold and will match or beat any other written price that you bring in. You will find that this final point quickly narrows down the list to the best and best paying gold buying company.