Let’s take a closer look at all the pros and cons of the two main types of gold buyers. Keep in mind that both online gold dealers and gold buyers located near you on the high-street have their own advantages, and it all comes down to what your overall needs are at the current moment. Let’s weigh in on what they are and look at a breakdown.
Choosing to use an online gold buyer to sell your unwanted jewellery, coins, and bars continues to be a viable option for people who are looking to get quick payment from the comfort of their homes. When you find a reputable one, they are an excellent and safe way to sell and continue your day when you’re done.
As already mentioned, this is a very convenient option. You just need to request a gold pack, receive your gold pack, fill out the form, gather the precious items and prepare place them in the packaging provided. The prepaid mailing bags included with these gold packs are usually insured up to a certain value. At Cheshire Gold Xchange we insure up to £2,500. The only inconvenience you have with this option is having to drop the package off at your local post office.
Online buyers often run efficient processes, which can translate into keen rates. You can search various buyers online and gather comparison quotes quickly based on advertised rates.
The chance to get keener rates for your gold is possible with the online route. With online buyers, they generally don’t have the same overheads as a regular bricks-and-mortar buyer will have. So with some online businesses they are able to work on smaller margins allowing for keener pricing.
A final pro to consider is that you have more privacy than if you were to walk into a physical location. You can sell your gold without having to show up in-person and only share information with the online gold buyer to receive your payment. This is a great thing to consider for those who are privacy-conscious.
Some issues that can arise are security concerns when sending valuable items by the post. Of course, delivery insurance, in most cases, can help resolve that. At the same time, no matter how reliable a courier is, issues can still happen, and that can cause lost items, damage to items or delays. Although sending your gold insured is crucial, the claiming process can be long if items are lost.
Speaking of delays, selling your gold online won’t be as instant as selling it in person. You need to factor in several additional days for your gold jewellery or bullion to be assessed, and for the offer to be accepted and funds sent to your bank account.
There’s also the possibility that the online estimate, no matter how much detail you include with online valuations, may be different when the actual goods arrive due to a shift in the gold spot price itself or after further assessment and testing the stated purity is inaccurate. However, with reputable gold sellers, you can always deny the offer if you aren’t satisfied with the revised quote.
These can range from your local specialist gold buyers, to jewellery retailers or even pawn shops. They can be convenient in their own way but do expect some cons as well.
You’ll get your money the fastest this way, so if it’s a total emergency, that could be a huge benefit to you. You may also be able to receive cash (subject to terms) as well as bank transfer when selling your scrap gold in person.
You’re also going to get a quick instant price on the spot. It won’t be an estimate; it will be exactly what the buyer’s willing to offer right then and there. There’s also the potential for negotiation as well. While gold buyers tend to stick with market prices minus their profit margin, there may be room for negotiation.
You also get peace of mind as you bring the gold in yourself, and don’t worry about risks associated with posting your valuables or exposing yourself to online scams.
This is not as convenient as handling the entire transaction online. You’ll have to actually visit a local store after being able to locate one. You may also not be able to come at will or need to set up an appointment in advance. There are also fewer options, as you’re limited to buyers within travelling distance.
Pricing for the gold can tend to vary as it may not be as transparent as online dealers. There could be hidden fees or other costs that are associated with handling a physical store, making it harder to do comparisons in the first place. It’s also not as private or discreet as being able to sell it online, as you have to physically show up.
The choice is ultimately yours. But if you’re looking for a reputable online gold buyer who offers transparent and identical pricing online or in-store then consider us at Cheshire Gold Xchange.
Receive your prepaid, insured envelope to send your gold to us. Find out more visit Sell Gold Online
