How Does The Cash For Gold Thing Work?

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I keep hearing about these companies that want to buy unwanted or broken jewelry. The ads are all over the place. I see them advertising on TV, in magazines, in newspapers and even hear them on the radio. But how do they work?
asked 4 years ago by superjoe

1 Answer

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Well it’s actually a lot easier than you may think. In fact, a lot of these companies are sort of like online pawn shops. You start by going to one of these company’s web sites where they usually have you start off by filling out a confidential form. You give them you name, address and maybe a brief description of the gold or jewelry you want to sell. Then the company will send you a pre-paid and ensured envelope. The insurance part is very important; after all, you will be sending them gold and/or gold jewelry!

When they receive your old or broken gold jewelry, they basically do a quick appraisal to see which pieces are good or salvageable jewelry, and what ones are scrap gold. Then they send you money. Many of these companies even promise turn around times like 24 hours. So it really is very easy to get sell gold for cash which is probably why so many people are doing it to help work their way through these trouble economic times.

answered 4 years ago by superjoe

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