Recycled Gold Jewelry Turned into Cash

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Updated: 11/12/2008 12:00:17 PM

(ARA) - Historically, gold has always been treasured for its ornamental value, but most recently, its uses have expanded. Because of its electrical conductivity and resistance to corrosion, gold has become necessary for industrial uses also. From jewelry to computers to aircrafts, the need for gold continues to grow.

The problem is demand for metals is increasing at a faster pace than the mining industry can supply. Mined gold and gold in banks only lasts so long. Precious metal recycling makes up the gap between growing demand and decreasing supply.

According to the U.S. Geological Survey, 90 tons of new and old scrap gold was recycled in 2007, equal to about 47 percent of reported consumption. Recycling of gold and other precious metals can take place in many ways, but one growing source comes from people who are recycling their broken or unwanted jewelry.

The current high precious metals prices, combined with the economic downturn, has led to a dramatic increase in the number of people wanting to cash in their gold or other precious metal items.

If you need some extra money and think that recycling your jewelry might be something you'd be interested in, there are some things you should consider. First, use a company who will give you a fair price with the option of getting your jewelry back should you decide not to take their offer. Also make sure that you work with a company that is a member of the Better Business Bureau and a recognized industry organization such as the Jewelers Vigilance Commission.

The jewelry you sell must go to a precious metal refiner for purification with the minimum purity of 99.99 percent. Many new Internet-based and direct response companies do not have the ability, facilities, equipment, technology or permits to refine your scrap gold and precious metals; they are merely middlemen selling your gold to the refinery. Be sure to work with a company that works direct with the refinery. This helps ensure you get the best offer.

Dollars4Gold.com is different. By visiting their Web site, you can sign up to get a prepaid, insured envelope to submit your jewelry. Upon receiving your items, trained and experienced appraisers will test them to verify the level of precious metals using non-destructive testing. They then assign a value based upon the weight and purity of your items and the current market price of the precious metals contained. You work with them directly, there is no middleman.

A check will be mailed immediately containing the assigned value. If you are satisfied with the payment, cash the check. If you are not satisfied, return the check and your precious metals will be sent back to you in the same condition in which they were submitted. Your satisfaction is guaranteed.

Lori S., of Glendale, Ariz., recently decided to recycle some of her old jewelry with Dollars4Gold.com. "Thank you for the service you offer, it gave me a chance to dispose of old jewelry I no longer had use for. I did not want to go to pawn shops, so this gave me a safe and a reliable way to dispose of the gold. I received much more than I thought. So thank you, thank you, thank you. You were extremely quick, I could not ask for more, never change, you are great!" writes Lori.

Dollars4Gold.com is a member of the Better Business Bureau and prides itself on providing fair quotes through a quick and easy process. Visit www.Dollars4Gold.com today to learn how much your unwanted jewelry is worth. Copyright © 2008, ARAnet, Inc.

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