If you are considering selling your old gold jewelry for some quick cash, there are some things that you should definitely keep in mind.  This post will point out some of them so that you can protect yourself and have a safe and happy transaction.

The first thing that I would like to point out is that you should always get as much information as you can about how the deal is going to work.  If you’re dealing with an online site make sure you read every page, especially their Frequently Asked Questions page.  You may even want to print them out in case the pages get changed at a later date.  These sites are very active and may change their website frequently.

One you receive the information and mailing packet from the site, make sure you read all of the documentation there too.  This is especially important because there will usually be a form that you need to fill out and sign, thus creating a legally binding contract.  Sometimes the terms of the deal are on the back of the form, so make sure you check out all of the pages, front and back.

If there is anything that is unclear or you don’t understand something, make sure you ask them to clarify it for you.  You can either email or call (if they provide a phone number), but I recommend email so that you get a response back “in writing” from the company.  Don’t send them your gold items until you are sure that you understand all of the terms of the deal and you are comfortable with them.

When you try to get cash for gold one of the most important things that you need to understand is the timeline of events.  Most sites will say that you have “x number of days” to reject their offer and get your items back.  What they may not tell you is that they start counting on the day when they receive your items.  If they take 2 or 3 days to process your items and mail you a check, you may only have 1 or 2 days to reject that check once you receive it.  And once that time limit is gone by, don’t expect them to still have your items.  They have probably already sent them to the refinery to be melted down.  The cash for gold phenomenon has taken the country by storm and the really popular sites and super busy and work like clockwork, so don’t expect them to give you special treatment.

Something that you can do to protect yourself from being ripped off is to photograph each piece that you are mailing in and you may even want to weigh it.  You can then compare your weight to theirs to see if they are on the up-and-up.

I don’t want to alarm you and make you think that all of these gold-buying companies are trying to rip you off.  Thousands of people have done business with them and had no problems at all, and they are happy to have gotten some easy money.  I just wanted to make sure that you don’t go into this type of deal blindly and take some steps to protect yourself.  If you do sell some gold for cash, chances are that your deal will go just fine and I hope that you have no problems at all.  In fact, if you have done business with one of the online sites please leave a comment and let me know!