Thursday, February 02, 2012

Cash For Gold.....

I know there is a mixed opinion about cash for gold. I can see where it could be useful for people who really need some money, but I also know that it is well worth getting a selection of valuations before you should sell anything. I was walking past one of the many cash for gold shops in town with my six year old boys today. I didn't even notice we had walked past one until one son said 'it would be really good if you found lots of jewellery as you could take it in to that shop and get lots of money for it'. I know he is only six and so I can understand why he said this, but it did make me start to worry whether there are people out there, who have not been lucky enough to be taught anything about money, who would think this sort of place will be the best place to go if they need money. There must be people who think like this or else there would not be so many shops like this opening everywhere. It is so important to make sure you are getting the best deal, often these places just pay you for the value in gold, minus some profit for themselves. However, you may find a jewellers or antique dealer may pay you more as they will see the value in the item as well as the value of the gold it is made of. However desperate you are, you surely can spare a bit of time, even to visit several different place sin the town where you live.

1 comment:

The East Ender Himself said...

You are better to sell gold at auction (online or offline) as you will get best price there (and ok the auction house take 10%)but some of those cash for gold places pay 30-50% below spot price, so you are basically swapping something of real tangible value for a lot less devaluing fiat paper.......