With so many advertisements on television trying to cash in on gold, everyones wonders if it’s all worth it. Having studied this year’s data (2009), there is a big difference in how much gold cost the year before; the rate for selling gold changes daily so if you have decided to cash in on the unwanted gold, you have to keep an eye on the selling price daily.
What is cash for gold?
Cash for gold are companies which want to cash in on the dwindling financial market by selling scrap gold for cash. In recent years the price for gold has risen with many people looking to invest into it as the value for gold rarely hits rock bottom. Many companies claim to have their own refineries, therefore getting you the best deal possible. A lot of the companies that are advertising on TV send you an envelope where you fill it with your gold and they evaluate and send you the money. You can easily calculate the value of gold but remember the better the quality and carats the higher the value. There have been many cash for gold trading counters set up in shopping centres nationwide, the advantage of these are they can tell you on the spot how much your gold is worth and you can either accept or think about it.
Is cash for gold worth it?
With so many cash for gold companies out there, it’s very hard to distinguish which ones are legit; if you read all the terms carefully you might find that it isn’t as good a deal you may think it is. Cash for gold companies only want to pay the minimum so they can make a profit on the gold you send in. If you go direct to the refinery, you’ll get a much better deal but if you can’t, you’ll get a much better deal at your local pawn shop.