If you are looking for some information on how to avoid pitfalls when selling gold, you should read this article as it will give you a few important points regarding selling gold.
Watch out for unlicensed buyers.
A Google search for "sell my gold," or something similar, returns thousands of results. Every jewellery store, pawn shop, and flea market in the country is now purchasing gold, not to mention online buyers, and plenty of are unlicensed and uncertified.
Types of scam:
The most common online scams is a charge-back – when a company asks a seller to mail their valuables to an alleged buyer. The buyer then claims they never received the piece, or that they never bought it, and issues a charge-back to their Credit Card Company or PayPal account.
Gold purchasing parties:
Another gold purchasing scenario to be aware of is named gold purchasing parties. These are gatherings or parties organized by a local sponsor. The sponsor invites their relatives and friends over to their house, where a "gold buyer" will evaluate the guest's pieces and offer appraisals and money on the spot. You should also look at the success story of global intergold company in order to know about gold purchasing companies.
Advice for gold sellers:
Like any business, the reputation of pawn shops and jewellery stores differ from shop to shop. Some are more professional and offer better prices than others. Research multiple companies beforehand-ask plenty of questions and find out in the event that they are a member of the National Pawnbrokers Association.