Selling your gold or jewellery? Don’t fall victim to a scam

(NC) Selling gold or jewellery can be a great way to unlock value from items you no longer wear or need. However, the process can be confusing, and if not approached carefully, risky. Here’s what you need to know to make safe and informed decisions when selling your precious items.

Where to buy and sell. Gold and jewellery can be sold at various places, including pawn shops, online marketplaces, local gold buyers and specialized retailers. Some things to keep in mind:

• Pawn shops offer quick cash, but often at lower prices.
• Online marketplaces provide direct access to buyers, but carry a higher risk of scams.
• Gold buyers and jewellers are professionals who offer fair market value, but be sure to look for reputable dealers.

The most common mistakes when buying and selling gold or jewellery:

• Accepting the first offer
• Not knowing the current market price of gold
• Dealing with unverified buyers 

Always do your research and know the current market value before negotiating.

Verifying buyers and avoiding scams. Safety is extremely important when dealing with valuables. Before doing business with a person or place, verify their credentials. This includes checking for business licences, as well as reading reviews and ratings on trusted platforms. Steer clear of anyone requesting upfront fees—legitimate buyers won’t require you to pay for appraisals or shipping before a sale. Arrange meetings in public places or at retail locations, and bring a friend if possible. Finally, ask for a written offer that includes weight, purity and price per gram.

For a safe and straightforward selling experience, consider established retailers, such as Canada Gold, that provide a transparent transaction process and make sure you understand the value of your items before making a decision. 

Learn more about buying and selling gold and jewellery at canadagold.ca. 

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