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Why Selling Gold to Online Companies is Such a Bad Idea

Updated: Mar 4, 2022

In recent years there has been an increase in the number of companies appearing online that will buy gold from you and give you cash in return. This is something that has certainly grown in popularity thanks to two things. First, the price of gold has gone up by a considerable percentage in the last decade and secondly people are struggling with bills and need that little cash boost in order to make ends meet.

These companies online promise you all sorts of things and flash big sums of money in front of you, but in actual fact you are best to take it to a local company and allow them to make you an offer. Why? Because to use these online companies you need to contact them, get their details, post your gold off, wait, wait some more, they make an offer, you decide if you are going to accept, then you wait for the money to arrive. This is not fast cash as time will drag on to a point where you really do wonder if it has all been worth it.

There are also a number of horror stories where people have had their gold lost in transit or where the companies they have sent it to have melted it down before an agreement has been made. Obviously there is also the fact that you have sent them the gold and the prices they offer tend to be among the lowest in the industry, so the ball is firmly in their side of the court and you are left with nothing.

All of this sounds like so much hassle that you wonder why it is worth putting yourself through it all. Does it not sound much better to take it to a local person who will appraise it there and then and also offer you a price for it at that very moment? Why wait days or weeks when you have an option where you can be walking out with cash in your pocket that very same day to then pay those bills?

Selling gold to companies online is a bad idea due to the increased risk of them ripping you off or simply losing your gold before you have agreed to anything. If you live in the San Diego area, then do yourself a favor and bring your gold to us to allow us to appraise it in front of you and make you an offer straight away because with us you really could be walking away with cash the very same day. We’re a small family business, not some faceless website, and we want you as a customer for life.


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