If you have been gathering or collecting a bunch of old jewellery or trinkets that contain gold in them and if you are not entirely sure on how you can get rid of it and at the same time make some money from it you have come to the right place. Here are the top 10 methods to get some good cash for gold.
- Gather the entire gold collection and place everything in a big plastic container filled with water and a hand full of tamarind (YES TAMARIND). Let all the items soak for an hour (you will be able to demand more money from the scarp gold buyers) and then use a soft sponge to clean them one by one under running tap water
- Catalogue all the items by number and description of what it is and note the weight of each item in a book. (E.g. brooch â broken pin â 2.8 grams)
- Dab the entire collection dry and spread them out on a clean sheet and inspect them for debris or unwanted lint and plastic wrap them tight to protect them.
- After doing the Cataloguing and weighing and wrapping, comes the hunt for the gold buyers, you would be able to find gold buyers or dealers anyway in the world and most easily on the internet. To avoid being ripped off, look for reputable gold buyers and dealers. One way to gauge this is to see how long have they been in the precious metal trade. Another is to do some homework on the company background.
- Make the call, call a few and tell them that you want an estimate from the list you have (include as much as possible in the description field of your items) tell them you will email it or fax the list to them. If any of the precious metal traders call back â they are interested â donât get excited, act like a pro and tell them if they would like to see what you have (here they might tell you to bring it to their office) make an appointment, do not display eagerness whatever you do, these guys are vultures!
- Once you are in the lionâs den (their office), they will inspect and probably test the items for the gold content. After they have done their own testing and cataloguing they will make you an offer at which point you ask for 10% more (e.g. if they say 300 dollars ask them for 330). Eventually the price would land at 310 dollars. Grab the money and leave. Your first conversion of cash for gold would have been a successful venture.