Sell My Gold FAQ

After the post about 5 Tips to Sell Your Gold some of you sent questions about selling gold and I thought I'd address them here. Please keep sending your questions about buying and selling anything for cash.

Q: How do I know whether to sell my gold by weight or by item?

A: The only time you will make some money from selling your gold by piece is if you have a one-of-a-kind designer piece, gold coins or artifacts that are worth value for their history.

Q: How come my diamonds resale value is pennies compared to the gold?

A: In general, gold will go up in value from the time you purchase it. Diamonds will go down. There's a whole backstory on why diamonds have very little resale value even if their worth is hefty. Unless it's a famous diamond for size or history, you're going to get more resale value from your gold. Keep that in mind next time you make a purchase.

Q: My Italian family said it's bad joojoo to bury the dead with gold, so we have quite a nice sum of 18k gold teeth that we've been piling up over the years. I kid you not. We sure could use the money to help out grandma and don't know if dealers will accept them. I'm a little embarrassed to go to my local gold dealer and ask.

A: Hey, your local gold buyer is going to love getting gold, especially 18kt. You can do a zip code search to find a local gold buyer at Cash/Money Buyers to find a gold buyer in your area. Good luck and keep Grandma happy!

Q: What's the deal with pink gold and white gold? Is it really gold?

A: The color of the gold depends on what you add to it. You'll never get pure gold since it's not a hard metal, so different metals or alloys are added in order to strengthen it. Basically adding silver will turn the gold silver or "white" as it's called and adding copper will turn it a shade of red or "pink" as we know it. The yellow gold you see that is not pure gold is usually mixed with sliver and copper in order to keep the yellow color.

Gold is measured and graded by karats. We measure gold as:
99.95% and above = 24k
95.83% - 99.95% = 23k
91.66% - 95.83% = 22k
75.00% - 79.16% = 18k
58.33% - 62.50% = 14k

Of course I've simplified the alloys that are added for gold colors or alloys in general, there are others used, such as nickel, which can cause allergies. Obviously if you're going to invest in gold, the higher the karat the better for resale.

Q: What has more resale value, a larger item of 14k or a smaller item of 24k?

A: This question came in and I saved it for the end since I wanted to explain about the measures in order to tackle this question. Basically it's a numbers game. If 12k is worth 50% of 24k, then you need double the amount in weight to equal the same cash for gold.

Thats about it for now folks, thanks for the questions and keep them coming!

Until Next Tip!
Brian

The Secret to Buying & Selling for Profit

For the past three decades, I've been buying and selling for profit as a family business with Cash/Money Buyers being one of our latest ventures. When you consider that commerce is basically buying and selling various items for profit, you see that you don't have to be a wheeler dealer Wall Street broker to buy and sell for profit. If you were to walk up to me on the street and say, "Hey Brian, what is the secret to buy and sell for profit?" I'd have to stop them right there and say, that yes there is a secret to buying and selling for profit, but it's not a magic bullet.

What I mean by magic bullet is that I will tell you the secret to buying and selling for profit  in the next few paragraphs, but that doesn't mean that you can put it into action without dedication, work, time and commitment. If you take the secret of buying and selling for profit and you add those other ingredients, you pad your income or turn it into a full time job by buying and selling for profit.

The big buying and selling for profit secret is simple: buy private, sell publically. By private, I mean find local sellers who are just looking to offload stuff. You work local by going to estate sales, looking in the local papers, the shoppers, bulletin boards at the supermarket and find the people who are happy with getting rid of their stuff.

When dealing local, you have an advantage over someone doing buying and selling over the internet. You can go to flea markets, estate sales, garage sales, and with a little know-how you can turn some of those items into cash.

Making money by buying and selling doesn't mean you have to take advantage of anyone. In fact, the more up and up you are when you buy and sell for profit, the more of a network you will create and eventually your hobby can turn into a lucrative full time job. 

When buying or selling, it's up to each party to find a fair price. So even if your intent is to sell some of the items for a profit, you will be working for that profit. Scouring local venues for items to sell is work and without due diligence you won't create a good network. As time goes on you will find that it's easier to find items to buy and sell for a profit and you'll get quite adept at it. 

The secret, of buying privately and selling publically (or nationally on ebay, half, amazon, etc.) doesn't sound like a big secret once you hear it, yet as you put it into action and start accruing a few dollars here and there, you'll soon become a buying and selling profit expert.

Until Next Tip,

Brian

Need a Quick Cash Loan?

If you need to find a money lender or get a quick cash loan you shouldn't make hasty decisions. While Cash/Money Buyers' list of money lenders is growing, you should take a few minutes to think about your money lender options before borrowing money.

When seeking a fast cash loan you want to first assess your financial situation. Are you really in need of the money? Often times after assessing your finances you may (or may not) find that you are carrying too many unnecessary, money-sucking expenses. Yeah, some of those luxuries are nice to have but often times they are unnecessary.

If you find that you’ve already poured over your expenses, cut out the extras and are still in need of a fast cash loan the least risky place to turn is to friends and family. Uncomfortable right? I know! Personal loans are often passed over because they can be uncomfortable for both the borrower and the giver but when times are tough this is an option you certainly want to consider. Personal loans from friends and family allow you (and the lender) to set up all terms and conditionals, ultimately relieving you of the stress from high interest rates.

If friends and family are absolutely out of the question and you need cash fast, the next best option you have is to apply for a loan through your financial institution. Unsecured financial loans through your bank and credit union are dependent on your credit score, however they have a lower interest rate than many other fast cash loan options. Credit card cash advances are a similar option. With all the aforementioned options keep in mind that your interest rate can be as high as 28% depending on your credit score, there also may be fees associated with these loans including but not limited to late-payment fees.

If your credit score isn’t up to par there are still options for you. Peer-to-Peer (P2P) lending has been around since 2005 and is steadily gaining popularity. P2P lending allows individuals to take out unsecured personal loans from other individuals without involving a financial institution. P2P lending is a good option for larger loans; they can go as high as $35,000. These loans can also be dependent on the credit score of an individual, however, the terms are set up by the individual loaning the funds. If you’ve been turned down for a loan at a financial institution don’t lose heart, P2P lending is able to take a closer look at your situation when determining approval than the larger institutions. Interest rates begin at 6% and you can even pay off your loan quickly when possible and avoid interest fees all together. If you are interested in a P2P loan you can find more information at the following sites:

www.Prosper.com

www.Lendingclub.com 

www.Peerform.com

(Please not that Cash/Money Buyers is not affiliated with any of the above sites and will not be held responsible for any disputes resulting in or from P2P loans)

I know that when you’re in the moment and you need the cash fast, the first places you want to go to are to those payday loans advertised on television or by some dancing middle aged man on random street corners. These are the places you want to avoid at all costs. These loans are predatory loans. That’s right, they know people need money and they’ll charge you everything short of your first born in return for their loan. Payday loans have interest rates ranging from 300%-750%. They’re really not worth it!

When you find yourself in a financial bind and needing a fast cash loan, don’t act rashly.  Take a moment to collect your thoughts, go through your financial information and choose the best possible route for you. Keep the future in mind; you don’t want to be paying off a $1000.00 loan for the next five years. If you’re not yet in that situation and haven’t started an emergency savings fund then maybe it’s something you should consider now.

Til Next Tip!
Brian Mooney

Sell My Car and Find a Local Buyer

When you tell people "I need to sell my car," you're going to get different views on how to find a buyer. Before you try an online guide like Cash/Money Buyers, that will help you find buyers in your area, you'll need to do a few things to sell your car. Here's your "Before You Sell Your Car Checklist:"

Start with going to the Kelly Blue Book for your car's value. Chances are you will not sell your car for guide's listing price. It's your initial step in finding a local buyer.

Then you will want to evaluate the going market for your car's make, model and year by investigating how they sell their car. Since car prices are regional, look at local newspapers and online lists or directories with a local component. If you can't find your exact car, find something that is normally comparably priced. If you are unsure of that, go to some online guides or a directory to see what they list.

Now is when you will beautify your car in order to sell it at the best price. Minor repairs should be done before you sell your car. The difference in your repair investment will be obvious when you find a local buying. Put a hundred bucks into a good car detailer and it will pay you back triple when you sell your car.

This is when you will make a directly listing to find a buyer and sell your car. The listing should be a few hundred above your expected price to sell your car so negotiation is an option when you find a buyer. Free places like Craig's List, Backpage or other online classifieds are great. Paying for an advertisement to sell your car in a local paper will also help you find a buyer.

When you find a buyer to sell your car to, keep in mind that you will need to be adjustable on your price by a few hundred up or down.

Lastly you'll need an agreement when you sell your car after finding a buyer. You can write up your own contract based on some good advice here Making an Auto Sales Contract, or use Cash/Money Buyers' Vehicle's Purchase Agreement and type in the info before you print it out. (Click on a field and type, then print out two copies and sign both, have the buyer sign both.

Until next Tip!

- Brian

Selling Any Car?

Can you believe this facciaduro trolling this car buyer. Some people have too much time on their hands. I can't imagine, I'm out there 6 days a week for 12 hours a day helping people sell their car or finding a local buyer.

5 Tips to Sell Your Gold

Selling gold for cash can help bring you some quick money, but here's a case where it's let the seller beware. Your old jewelry, gold trinkets, gold teeth, etc. sell by weight and purity. Let's take a look at what this means for you.

When you sell your gold, you want to be sure to get the most cash for your item(s). News shows have investigated dirty dealings in mail-in companies, fly-by-night gold buying stands and even at gold-buying parties. Places like Cash/Money Buyers will help you find a local gold buyer in your area and that alone can help you get the most cash for your gold.

Let's go over the process of selling your gold for cash:

Sell Tip #21: A Tale of Two Keyboards

In order to sell your item fast, getting it in good condition is one of the key points in 5 Steps to Sell Your Stuff. Selling is easy and this blog is dedicated to helping you learn how to cash in on selling!

This is a cautionary tale from Cash/Money Buyers. It has to do with two piano keyboards, each owned by different owners that wanted to sell their item fast for cash by finding a local buyer in their area. As luck would have it, their perspective keyboards were marked with permanent maker which may make finding a buyer harder, or selling the item for cash garner less than expected.