Unless you’ve been living under a rock for the past year, chances are you’ve seen the non-stop ads on TV, or in your local paper, or in national magazine, or on billboards and park benches, or…well, you get the idea.  Since the U.S. economic downturn, the companies that buy your old gold jewelry have been cranking up their advertising and raking in some seriously big bucks.  In this bad economy, many people are really hurting for money and selling old gold jewelry for cash is an easy way to get a quick cash injection.

It’s important to understand the process of how this all works, so this article hopes to educate you and help you about how to get cash for gold.  There are many, many different companies offering to buy your “old, unwanted jewelry” for cold, hard cash, so I won’t even try to list them here, there are just too many.

Most of the online sites work something like this:

1. You give them your contact information
2. They mail you an information kit
3. You mail them your gold, usually in an envelope they provide
4. They assess the quality of your items and weigh it and mail you a check
5. Once you receive the check, you have a certain period of time to reject their offer and get your items back

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In a nutshell, that’s how the transaction works when you are dealing with an online gold buying company.  But there’s another way to get cash for gold that doesn’t involve the back and forth mailing process.  Many local jewelry stores have begun offering this service.  You bring the gold into the store, they assess and weigh it and make you an offer.  It may be done on the spot, while you wait or you may have to leave it with them and come back in a few days.  Either way, it’s a little more personal and less scary to do this process locally, but the local stores may not be able to offer you as much money as the popular online sites.

When you are selling your gold, you should always be careful to read the fine print and make sure you know exactly how the transaction is going to take place.  If you miss the deadline for rejecting their offer you may not be able to get your old gold jewelry back because it has already been melted down!  Look for future articles on this site for more information about using these cash for gold services.

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