Sunday, 24 June 2012

Scrap gold life saver for cash-strapped Britons


"Selling gold is all about trust. Speedy Cash 4 Gold
 works hard to gain customers' trust."
Scrap gold is proving a financial life saver for thousands of cash-strapped Britons.

More and more of the UK's "working poor" are cashing in on the precious metal's soaring value in a bid to make ends meet.

Around 7 million people are classed as working poor, according to leading credit reporting agency Experian, meaning they have a tough time meeting bills at the end of each month.

But the scrap gold for cash market, warns Speedycash4gold.com, is full of unscrupulous dealers ready to rip off people who are often in desperate straits.

That's why the company has introduced revolutionary new features on its website, where the value of gold calculated is done so on the live spot price.

Its cash for gold calculator is now an industry leader, giving the most accurate prices for scrap gold in any hour.

Recognizing, too, the scrap gold market is full of people looking to take advantage, Speedycash4gold.com customers can also have a video of their gold being weighed.

This open policy, coupled with the live spot prices, is aimed at making sure customers feel their cash for gold value is fair.

When selling scrap gold, says the company, it is very important to understand the difference between the scrap gold price and the retail price for gold. In principle it is a very simple concept but it is one that a lot of people forget. This leads to disappointments and a feeling that they have been hard done by, especially if they have sold the item to a cash for gold website or postal gold company over the internet.

The scrap gold price is based wholly on three numbers. These are the international gold price, the carat value of the items in question, and the total weight of the gold alloy parts of the item in question. Nothing else influences the scrap gold price and generally it is lower than the retail gold price.

The retail gold price really has very little to do with the weight or the global price of gold, although sometimes the carat of a particular item can have a bearing on the retail price.

The most important factor when it comes to the retail price is how much a jeweller could sell the item for in their shop window – this is the retail value. Factors that influence this are the design, who designed the item, who made the item, does the item have gemstones, and so on.

Secondly, the retail price is always higher than the scrap gold price for a particular item. The reason is simple; the jeweller must cover their cost of sale and so they add a profit margin to the price.

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