With gold prices soaring, everybody is in a rush, to make money. People are selling their jewelry for the high prices available, and for the urgent need of cash that they need to cover their bills and debts. With this increase in gold sellers, many unscrupulous buyers have also emerged that lure in people with high prices, fake promises to have their precious gold. Before selling your gold in the market, you must be sure you are dealing with reputable companies.

Here are the few tips that will save you from frauds and scams.

Deal with the refineries: Dealing with refineries gives you more money for your old jewelry. While dealing with them, there is no middleman, to take a share out of your profit. When you sell your gold to a middleman, he makes more money than you. He sells it for a huge profit making a lot of money.

Check on the company: How long the company has been in business? What is their reputation in their market? Are they reliable? It is better you deal with the buyer who have been in this business for a long time and have a reputation to maintain. A newbie in the business can be fraudulent. They may promise you of the high prices, but this is quite a probability that you may never get your cheque.

Caution while dealing with online buyers: If you are dealing with an online gold buyer, be cautious. You can read their reviews from existing customers. Check whether they are registered or not. If a company has only answering service taking calls or a just a post office box address, then it is advisable to look for some other company.

Sending your material: Now comes the time when you have to send your items for appraisal. Be sure that the company is providing a secure courier service for your items. A reliable dealer provides you with full insurance and a secure courier service. You are also given a proper code for tracking your parcel. You should expect to get your payment within 48 hours of acceptance of your items from the company.