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Since gold is near record highs once again, it might be time for you to think about selling some of that scrap gold you have laying around the house. I’m sure you would love to make some extra cash in this trying economic time and be able to pay off your debts. If you want to learn how you can do this safely without getting ripped off by middlemen or not-so-honest gold refiners continue reading.

In order to avoid all the con artists and scammers out there today there are a few things that you must understand. And the first of these is that you have to check out each and every company thoroughly before even thinking about dealing with them. This way you will have a much better chance at finding the right dealer or refiner that wont rob or rip you off.

One of the first things that you should check is to see how long the have been in the gold buying business. Anything under 5 years should be reason to check deeper. Check Google or some other search engine for information about the company and see if they have any complaints built about against them. A good place to check also is the Better Business Bureau’s website where you can see their accreditation rating.

The next vital step is to find the companies website and check out their buying gold policies and how much they pay. Find out their address while your there and check to make sure that it actually exists. You want the company to own their own refinery and not just be a middleman gold dealer.

Do they offer a telephone number to answer your questions? Give them a call and see how they treat their customers. Be careful not to give into any high pressure sales pitch before knowing what you will actually be getting for your gold. This is a good time to see what their first offer might be.

Once you check out the company, make sure you know the actual current value of gold on the open market. The price of gold changes daily so you may not have the current price on the day that you contact the gold refiner but that is ok the price usually doesn’t fluctuate that much day to day. The formula for figuring out how much different karat’s of gold is worth can be found all over the internet and there are even some calculator’s available.

After finding your company and your gold’s value, the next step is to find out what they will offer you. Some times you can get an offer over the phone but most of the time you will have to actually send in your gold first. This is because they have to check the karats and weight of your items before you can get an accurate price.

A great price, if you can get it, is any offer over 90% of the spot price of gold. But in reality, 80% or more is pretty good. If the company won’t give you at least that, go with another refiner. There are many that will give you that much.

Try to avoid any companies that do not refine their own gold because companies that are middle men have to buy at a lower price to be able to resell at a profit. This is also another way to avoid scammers. Most scammers do not have a refinery themselves but sell to someone else. This is also the only way to get top dollar for your gold.

The final thing you have to do is to make sure that your package of gold is insured in route to the refiner. Most companies will do this themselves but it will probably be a small amount like $100 or 1/3 of your items value. Special deals can be made with many refiners for more valuable transactions.

Follow this advice and you will be well on your way to selling scrap gold safely and easily. Just make sure that you do your due diligence and research thoroughly and you can avoid getting ripped off by one of the many con artists out there.

Jack writes articles on a website where he teaches people how to sell gold for cash and how to avoid cash for gold scams.