Selling Gold for Cash in Canada
The price of gold has been on the rise for some time now and many people considering selling gold for cash to pay bills or simply to have some extra spending money. There are many options for a consumer to sell gold in United States and we all seen many ads on TV advertising such services, in fact, I even saw a Super Bowl ad last year for a cash for gold company. Imagine the cost of advertising involved in paying for these ads and it makes you wonder who ends up paying for it in the end.
In Canada, there have been many companies trying to get a piece of the pie and eagerly stepping into gold buying business which is actually beneficial for an average consumer since a little competition never hurt anyone. Pawn shops have been buying gold for years now and we can see that many jewelry stores and even payday loan companies are starting to buy gold in Canada. There are also a few new companies that have recently turned up that would buy your gold and companies operating out of P.O boxes that will meet you at your chosen location. Everybody claims to pay the most, it is the nature of advertising; we must be able to come up with a way to figure out how would an average consumer chose the best company to sell gold for cash.
If you are planning to use a mail-in gold buyer, think again. Aside from the fact that you will lose all control from the time you send in your pre-paid package to these companies who rely heavily on expensive advertising to lure you in, in most cases, your package would only be insured for $100. Imagine for a second if you gold would be lost in the mail, that would be really disappointing. You may think that you can pay more money to Canadapost to cover full insurance, but surprisingly enough, Canadapost only has a maximum liability for gold and jewelry of $500 and most consumers don’t realize that. Fedex and UPS and all other Canadian carriers have a similar policy which they don’t advertise (you have to read fine print). If you are comfortable with this fact, or simply don’t have the time to shop around, then maybe mail-in service is an option for you, after all, it is a very convenient way of selling gold.
For the savvy consumer who is looking to maximize the payouts you can get from selling gold for cash in Canada, I suggest shopping around and do a simple localized Google search (ex. “Ottawa gold buyer”). I am using Ottawa as an example since this is my local search area. I have tried this simple search myself and have found a few local companies located right here in Ottawa that will buy your unwanted gold; some of them include CashInGold, Rings Etc, Gold Lobby, Ottawa Gold, and Recycle Frog, only to name a few. Some places require appointments and offer payouts by cheque while others will serve you on a walk-in basis and have many settlement options including getting cash on the spot. You should do your homework and get as many quotes as you can before deciding where to sell your gold. I also suggest researching a company you are considering to sell gold to and read some reviews and possibly consider previous customers’ experience. It may be even beneficial to check with Better Business Bureau if a company had consumer complaints in the past and how were they dealt with.