Know the Terms and Conditions
Always read the terms and conditions before you send your
gold off to be weighed and valued. A reputable gold buyer will tell you how
long it will take them to make you an offer, how long you have to accept it and
how long it will be before you get your check. Some, like GoldFellow, offer
instant payment options like wire transfers and Paypal eChecks. Others will
only send you a paper check.
Photograph Your Items Before Sending Them
Accurate records are important for many reasons, including
your own tax records. Make a list of the items you’re sending and photograph
them before you pack them up.
Insure Your Items
Unless the company provides you with an insured shipping
envelope, make sure you send your items via an insured method. Some companies,
like GoldFellow, will send you a shipping envelope and pay the cost of
insurance so you don’t have to.
Look for Transparency in Pricing
Most cash for gold buyers make a big secret of how they
determine the price they offer you. The more trustworthy ones have a
transparent pricing policy. GoldFellow, for example, states on its website that
gold prices are based on the price of gold as quoted by London on the day of
settlement.
You should also look for transparency in the company’s other
dealings with you as well. If the company ships via FedEx, for example, will
they provide you with a tracking number so you can follow your package? Do they
record the delivery and weighing of your items? Are they accredited by the
Better Business Bureau?
When you’re selling gold online, it’s important to protect
yourself from scam artists and fraudsters. Following these tips can help you
track your gold shipment and ensure that you are dealing with an honest online
buyer.
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