Everything You Need To Know To Sell Gold Online
My Gold Party Review
*These reviews are based on our personal experiences with the individual cash for gold companies and our rating reflects our feelings regarding our transactions with them. Your experience with the gold refiner/dealer may fare better or worse. But we always try to give the most accurate representation of what you are likely to find.
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It is always a good idea to do your own research and find the company that works for you. We do these reviews because it is important for anyone looking to sell their gold to understand that very few online gold buyers will actually give you what your gold is worth. You would be surprised how many cash for gold businesses payout less than half the current price of gold. And not everyone has the time to properly look through and research the hundreds of gold buyers that are out there today. We hope these reviews will give you an idea of what to expect and will help you to make a wise decision.
MyGoldParty
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My Gold Party is a new kind of gold buyer that has become increasingly popular lately. Instead of the normal deal where you just send in your own gold to a gold refiner in exchange for cash, My Gold Party wants you to buy a gold testing kit from them for around $700 or have one of their representatives come out with a testing kit and then get your friends and acquaintances to sell their scrap gold to you for around 75% of the spot price of gold. Then you sell all that gold that you collected back to My Gold Party for about a 10% profit for you.
They do have an A- rating with the Better Business Bureau but have only been accredited since August 2009.
If you like the idea of hosting gold parties as an extra way to make some money, this may be the route for you to go but you have to understand that all the risk lies with you. They don’t accept returns and you have to provide all the cash to party members upfront so depending on how many people you can gather you may be looking at several thousand dollars that you have to payout before you ever see a dime. Also if you’re going to be buying from friends, 75% of the spot price of gold is not as much money as they could be getting from other refiners.
Now if you’re attending one of these gold parties on the other hand, you need to make sure you know how much your gold is worth beforehand. Otherwise you have to trust the word of someone trying to make money off you. We would advise avoiding one of these gold selling parties all together as you can get a much better rate by just mailing your gold to a gold refiner like Empire Gold Buyers.
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