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How To Sell Gold Without Getting Scammed

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How To Sell Gold Without Getting Scammed

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Home Page > Finance > Personal Finance > How To Sell Gold Without Getting Scammed

How To Sell Gold Without Getting Scammed

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Posted: Jul 23, 2009 |Comments: 0
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With gold at an all-time high now is the time to sell off some of that old gold jewelry you never wear. Would it not be great to pay down some of that overpowering debt or put some money away in savings as an emergency fund in this trying business time? In the following article I am going to explain the best way to do this as well as how you can elude getting ripped off by agents and gold refiners.

What you need to understand to protect your gold investment and sell for top dollar is to entirely check out the companies you will be working with.

It’s not that all new gold refiners are con artists but it’s a lot safer to assume that an organization that has been in business for ten years does not make a habit out of ripping off their customers. If that were the case there would be plenty of complaints built up that you could find with a straightforward search of the company name in Google.

Check the companies’ website, their policies for buying and selling of gold and their address. Is it an actual physical address? Post office boxes should throw up the red flag to you. You need a real bricks and mortar site if at all possible. If the company is nearby see if you can visit the refinery or business office.

Be careful not to give into any high pressure sales pitch before knowing what you’ll basically be getting for your gold. This is a good time to see what their first offer might be.

Ensure you know the particular current value of gold on the market ( CNN’s website has current dear metal values or you can Goldprice.org for this spot price of gold ). The cost of gold changes daily so you may not have the current price on the day that you contact the gold refiner but that’s OK the price often does not vary that much day to day.

This is also another way to avoid con artists. Most conmen don’t have a refinery themselves but sell to someone else.

ultimately, ensure your gold is insured while in transit to the company and they return it insured, if their quote is not accepted by you. If you do not buy insurance you can lose everything either by unfortunate circumstances or by purposeful fraud. This is really something where cutting cornerson it can cost you more than just wasted time.

If you follow these tips that help you sell gold for cash by working with credible dealers and refiners, researching different firms, and accepting only the best offers, you should be well on the way to getting a nice lump sum of money for your gold. It should also save you headaches in the future as well as steer you to making wise choices.

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Jason Helms -
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If you want to sell gold for cash please visit sell gold for cash where you can learn the selling of gold jewelry for free.

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Hello my name is carlos navarro ,i live in mexico , im looking to sell a few gold minds or to find an invester,i also have silver ,marmol and laja minds

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Article Tags:
sell gold, how to sell gold, sell gold without getting ripped off, selling gold

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How To Finance Your Startup Without Venture Capital And Angel Investors

Sat, 10 Apr 2010 19:06:54 +0000

Venture capitalists and angel investors can be very useful external sources of capital for established businesses, but the value they bring to new ventures and start-ups is questionable at best. Entrepreneurs should aim to finance their ventures by means other than venture capitalists, private equity and angel investors unless a large fortune is needed to finance business start-up activities or they choose to work with investors specifically focused on very early-stage start-ups. Here are eight strategies in which many entrepreneurs might choose to finance their ventures:

Business Credit Cards
Many successful businesses, such as Under Armour, were financed through credit cards in the very early stages of their venture. While credit cards are not necessarily the most ideal source of financing as they do have their drawbacks, if used correctly they can be a very effective source of financing.

How to use a business credit card correctly:
- Effectively manage cash flow by not having to pay for purchases until the end of the billing cycle.
- Use to pay for start-up fixed and upfront costs so you can make your first sale
- Plan ahead on how you will pay off the balance, then create a backup plan

Things to look for in a business credit card:
- If you will be carrying a balance, look for low APR
- If you will not be carrying a balance, look for great cash rewards and introductory promotions

Supply Chain Financing
If you are selling goods, see if your supplier, manufacturer, or distributor could issue you a very favorable loan or line-of-credit. After all, the more successful you are, the more successful they are, and they understand this. You will be surprised how common this is – many suppliers, manufacturers and distributors even have set procedures for these circumstances. All you have to do is ask.

SBA Microloans
If your venture needs less $35,000 or less, you should consider taking out a microloan. A microloan is a small, short-term loan available to small businesses that can be used as working capital or towards purchasing new inventory, supplies or machinery. These microloans are made available through the SBA but are distributed by intermediary nonprofit community lenders. Although these loans usually do require some sort of collateral, they also provide very favorable terms and are quick and easy to receive.

Business Plan Competitions
There are numerous business plan competitions across the country dedicated to awarding prize money to selected entrepreneurs to finance their businesses. While the vast majority of these competitions are directed towards undergraduate and graduate students, there are plenty of local and state competitions opened to the public.

Many schools such as University of Texas Austin host business competitions opened to all students at accredited universities. Other colleges such as University of Maryland host competitions open only to their students.

If you are not a student, don’t worry. Try searching Google for business competitions in your state or county as many local chambers of commerce host competitions to support local businesses. For instance, there is the Washington DC Economic Partnership Competition, Jefferson City Area Chamber of Commerce Competition, Enterprise Center Boston Competition and the Bizzy Awards.

All of these competitions are great because not only do you get great experience pitching your idea to investors, but you have the opportunity to win a substantial amount of free money and receive tons of free press.

Grants
Grants are essentially free money, and are one of the most desirable sources of funding for just that reason. Unfortunately, they are also one of the most difficult to obtain. Most grants are awarded by state and local governments, and most grants are reserved for businesses that have the potential to provide a great service to the community, such as medical research and high-tech companies. Searching for grants can be a very grueling process with scams around every corner. Start your search at Grants.gov and State Small Business Grants, and be weary of any non-government or for-profit entity.

Personal Savings
While not the most creative source of financing for a start-up, personal savings remains to be one of the most popular methods. Personal savings allows entrepreneurs to own 100% of their company’s equity. Relative to other financing methods, personal savings provides very attractive terms as it leaves you liable to no one but yourself, and the cost of capital is simply the opportunity cost of investing that money elsewhere. Personal savings should always be strongly considered as it is one of the most ideal sources of financing.

Friends and Family
Not even experts agree on the role friends and family should play in financing a start-up. In one hand, financing from family and friends can be fairly simple and straight forward as there is already a mutual respect and understanding. Friends and family will be more willing to give you very favorable terms and might also be less stringent in their rules on how the money can be used. However, in the other hand you have the possibility of straining important relationships in your life over money. If the business starts going sour, there could be unnecessary pressure coming from the very people you need support from. In the end, this source of financing is up to each individual entrepreneur and depends on a number of specific circumstances.

Bartering
Many start-ups are very short on cash and credit. Paying for a necessary good or service might be impossible, leaving many entrepreneurs in a catch-22 situation. One possibility would be to barter for that necessary good or service. First, build a strong relationship with the other party, and then make a proposition. Remember, always consider the other side’s point of view and “what’s in it for them”.

The above are suggestions as ways to finance a start-up business, but ultimately each situation is unique. Always evaluate each possibility thoroughly and compare to comparable alternatives.

Entrepreneurship is much more then a great idea — it’s execution, critical thinking, personal finance, strategy, marketing and hard-work.

Gold Investing – Retire Without Fear

Mon, 28 Sep 2009 03:11:17 +0000

This is the time! The day you have been longing for, but perhaps not so sure about. The desk may be cleared and everyone is admiring the presentation gold watch in its smart box. You may even have your retirement lump sum-could be the largest sum of money you have seen in your life. It is a good feeling but can also be an intimidating one. Now more than any time you need good investment advice. Even in being careful, you face financial risks at retirement time.

The Main Risks Are

Longevity: the risk of outliving your assets is very real.
Inflation: the inexorable price-rise in goods and services will eat away at the purchasing power of your hard-earned savings.
Asset allocation: if you haven’t chosen the right mix of investments, your portfolio could fail to grow.
Health care expense: you need a reliable source of income to cover rising health-care costs.
Withdrawal rate: if you withdraw too much too soon, you are in trouble.

To be Secure In Your Retirement Investing:

Diversify
Safety First
Build Continued Growth.

With this in mind have you considered gold investing?

1) DIVERSIFICATION
Whether your investment approach is conservative or aggressive, gold investing can play a vital role in the diversification of your portfolio. Most experts recommend a gold holding of 5%-10%.

2) SAFETY
As we painfully learned from the NASDAQ bust, any stock, no matter how seductive it may seem, always has the potential to plunge to zero. This will never happen with gold. Life is full of unpredictables-hurricanes, tornadoes, terrorist attacks. Gold investing is the perfect way to protect the foundations of your portfolio from an unpredictable future.

3) GROWTH
Recently, a long-term subscriber to an investment newsletter wrote: “I have been following your gold suggestions since December of 2001 and have made a barrel of money. The ten gold stocks you recommend now, if held since then, are up about 500% on average. Not too shabby while gold bullion is up about 70%, a 7-1 ratio.”

Currently, world gold demand exceeds global gold supply by 60%-100% annually; as the mines cannot extract gold fast enough to meet this demand. A shortage leads to higher prices. Nobody can guarantee that anything will last forever, but in the short term the gold price will rise.

So what shape could your gold investments be in?

Just as you can diversify your overall portfolio, you can also diversify the gold part of it. Gold investing takes three main forms:

1. Owning physical gold-the safest, “insurance” part of it. And the most exciting part? When you hold gold in your hands for the first time, you understand why it has generated such a passion through time!

2. Gold stock-investment in quality gold mines. This is for the “growth” part of your portfolio.

3. Gold derivatives-only for those who are not averse to risks!

Some people may give you a strange look if you are talking of gold investing! There are great ideas floating around:

Gold provides no return. But it doesn’t need to-it keeps going up in value!
Central banks will sell their gold. They have in the past and have recently realized it is not a wise policy.
The government could confiscate gold. It is true that this happened in 1933. But things have changed so much since that time; the chances of this now are virtually nil.

If others are uneasy about gold investing, all the more reason for you to do it and do it well! So that you can enjoy your golden years!

Summary:

The main factors of gold investment are… To be mindful of your retirement with diversification, safety and growth. With these in mind, you will do wonderfully well to consider gold.

Author: Brooke Hayles
Check Out More Helpful Information About Gold Investing For FREE!
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