First of all, realize that I know selling online to one of the many places that accept gold online is my competition. So I am some what biased to start. But I am going to stay objective with this post – pointing out some very real and clear reasons that selling online may not be a good idea.
1. Knowing what you have. Unless you work in the jewelry industry or have taken it upon yourself to educate yourself on jewelry and precious metals, you may not know really what you have in terms of actual gold content. All gold karats (10k, 14k, etc) should be sorted and weighed separately to determine total gold content. Unmarked or faded marked items need to be tested (is the item 10k or 14k, payout can vary a LOT with this mistake). Another great example of this is gold filled jewelry. These are marked 14k 1/20 GF or a variation of this – this will also cause questions of value because gold filled has almost no gold content vs. true 14k being 58.5% gold. The Local Difference: When bringing your items in local to my store, you set them in front of me and they never leave your sight. All items are tested in front of you, and the results are discussed with you. We will show you the marks as well. Selling by mail cannot provide the same information – they will just make an offer based on what they think you will accept.
2. Questioning an items content. In this case, they may say that one of your items is 10k when you truly believe its 14k. So, you can either believe this and accept what they say, or have the item shipped back to you at your expense – hoping it is the same thing you sent them. Not to call them dis-honest – but it is a risk never the less whenever talking about the items leaving your possession. The Local Difference: The items never leave your site, there is nothing to question – if you do not wish to sell, you just take the items with you. Testing will be done in front of you, with evidence of gold content acid test right before your eyes.
3. Shipping Loss. Now admittedly, I am a big customer of shipping services, and this really is rare these days. But depending on the amount you are shipping, the risk can out weigh the reward with just the risk of potential loss. Items can be insured, but collecting on this insurance can be a hassle. And if you do not know how much to properly insure in the first place, you could be losing out more. The Local Difference: No shipping is involved.
4. Required Regulations. Required Laws and Regulations do not apply when sending items across state lines. Scales have to be calibrated by the state in many cases and the scales have to be legal for trade, these regulations are designed to protect you. The Local Difference: Gold buyers are required by law to follow all precious metal buying guide lines and to have their scales calibrated yearly, on top of following all local laws surrounding the gold buying process.
So in summary, these are real considerations that should be going through your mind if you are considering selling your jewelry via mail. We do pay the most here at Beach Gold Assay, we want to be your premier spot for selling any gold, silver and platinum jewelry, bullion, flatware or other items you may have.