How to Cash in your Scrap Gold

Gold has gone up in price tremendously in recent years.  Many people are having financial difficulty in these tough times, and cashing in your unwanted gold can be a way that you might be able to make some money.  There are different people who will buy your gold, however you will want to be careful when choosing a person to whom to sell it because you want to get a reasonable deal.  The following are steps to take in order to cash in your scrap gold.


A lot of jewelers will actually buy gold.  This can be good in that you can actually see the person and hold someone accountable.  You are not just sending it off to somebody random that you do not know.  You can talk to the jewelers to find out how much money they will give you for the gold.  It might be a good idea to go to several different jewelers to compare the prices that they are willing to give you.  Obviously you will want to go with the best price (as long as you trust the person).  Another smart thing to do before you go in to cash in your gold is to weigh it yourself.  Unfortunately, there are those who would cheat by saying that you have less gold than you actually do.  Thus by weighing it yourself you will help solve that.  If possible, have them weigh it again in front of you so that you can see that the amount matches.

Cash for gold kiosk in the mall

There are now kiosks popping up in malls that will cash in your gold.  You might want to see if you can find someone who used them before.  You will have some accountability with this too since they work in the mall, but you never know where those who are trying to run a scam go.

Television/online ad

You will see many television ads and online ads for cashing in gold.  The television ads might have a little more credibility than the online ads since anyone with a computer can easily put up an online ad.  Some of them require you to send in your gold before they even tell you the rate of money they will give you back.  Be careful with these places, but you still might be able to find a reputable place.  Just make sure that you trust them. 

Cashing in your scrap gold is a great way to earn some extra money.  Do be careful, because there are many swindlers that will not give you a fair price for the gold.  Obviously, they have to take a cut to earn money but some take far more than others.  If possible, you might want to see if you can get a recommendation from someone who has cashed in their gold and had a good experience with someone.