Protect Yourself When Selling Gold to Internet Buyers

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Los Angeles, CA, June 11, 2010 — The Internet is rapidly becoming the place of choice for people who wish to sell their broken or unwanted precious metal jewelry for fast cash. Nevertheless, it also has risks that you can avoid by being careful of which buyer you sell to and if you avoid the multitude of scams that exist online.

According to Joe Montes, president, “When we look at the market objectively, Cash for Gold Co can easily understand why so many buyers have become ‘gunshy’ about sending-in their valuable gold, platinum and Sterling silver property to Internet buyers. Our company, along with a few others, has made strides to alleviate any concerns that sellers have. However, we still get emails from prospective sellers clearly expressing their concerns. As a result, we have decided to publish a series of steps that any seller can take to protect themselves in an Internet transaction:

(1)- Before deciding which buyer to sell to, check them out thoroughly. This is best accomplished by going to the Better Business Bureau website at: http://www.bbb.com and looking up the buyer’s rating and record of complaints from past customers. Also, check the buyer out on complaint sites such as: http://www.ripoffreport.com . Finally, it is a good idea to use a buyer that exhibits the BBB Accredited logo on their website pages.

(2)- There are some Internet buyers who seem to ‘lose’ or ‘never receive a seller’s property despite the fact that it was mailed in that company’s own mailing envelope. Then, the seller comes to find out that the mailer they used is only insured for $100, hardly enough to cover the loss of their property. Always check to be sure that a buyer’s mailing envelope is pre-insured for up to $1,000. Anything less won’t offer you adequate protection in the event it never arrives at the buyer’s facility. Also, be certain to purchase inexpensive ‘proof of delivery’ from the USPS that means the buyers MUST sign for the package when it arrives.

(3)-Make sure the Internet buyer you select offers a 100% satisfaction guaranteed. Simply stated, this means that if, for any reason, you are not completely satisfied with the payout you receive, you may return the company’s check within a specified number of days after receiving it and all your property will be returned at their expense.

(4)-Finally-and this is most important-be certain you understand What a buyer means when they advertise: “we pay more”; “we Pay 3X or 5X more” or any other open-ended claim that doesn’t tell you what it means. At Cash for Gold Co, we always define our terms by telling sellers “we pay the highest-possible percentage of actual value based upon an assay and the current spot market price of the metal at that time”. This means that once we have determined the total value of all a seller’s items, his payout will be that 100% figure LESS a modest deduction to cover our company overhead plus a reasonable profit. Just saying “we pay more” doesn’t tell you anything.

Follow these four steps in choosing an Internet precious metals buyer and you will minimize your risks”.

Other press releases from Cash For Gold Co

• Selling Precious Metal Jewelry Will Be a Real Problem Solver When Extra Cash is Badly Needed - August 1st, 2011
• High Insurance Coverage for Property in Transit is Important - July 27th, 2011
• Learn to Tell if Your Jewelry is White Gold or Platinum - July 25th, 2011
• Protect Yourself When Selling Precious Metals to Internet Buyers - July 25th, 2011
• Cash For Gold Customers Ask: What is ‘Black Hills’ Gold and is It Valued Differently? - February 4th, 2011