Selling Gold Online: 3 Ways To Protect Your Assets When Selling To An Online Company
Posted on: 19 April 2017
Gold is a valuable asset to have around, as it retains its value quite well. According to Bank of America Merrill Lynch, gold prices can reach as much as $1,400 by the end of the year. It's also fairly easy to liquefy gold. Nowadays, you can easily sell any gold you have lying around in your home to online buyers. All you have to do is mail the gold to the company, and they'll cut you a check. Although the process is relatively straightforward, you should still consider implementing the following 3 methods to protect your asset.
Get the Gold Appraised By a Professional
Confirm the value of the gold that you possess, as well as the weight and carat of the gold, by getting it appraised by a professional. The appraiser will usually provide a certificate that specifies the properties of the gold. You can use this information to calculate how much your gold is currently worth on the market. Keep in mind that the buyers will pay less than market value for the gold. The appraisal will give you a good idea as to whether you are getting a reasonable and fair deal.
Insure the Package for Its Appraised Value
To protect yourself in the event that your package ends up missing or misplaced, you should consider insuring the package for its appraised value. The insurance will cover the total value of the gold should any mishaps occur. When you insure a package, you will also usually get tracking with the shipping. This means that your package will be accounted for throughout the entire delivery process, and you can easily track where the package is online.
Research the Company You're Selling the Gold To
Before you mail your gold out to the company, it's a good idea to research the company online just to confirm that the company is reputable and that other sellers have not run into any issues with them. You want to check to see whether other sellers have reported that they received their payments quickly and whether the entire process was transparent and straightforward.
Conclusion
Watch the market and sell gold when its value inflates. The benefit of holding gold as an asset is that gold is always in demand. This makes it easy for you to liquefy and sell the gold at all times. In addition, you'll usually get a reasonable and fair return from the sale.
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