You've probably seen a huge amount of advertising recently for "money-for-gold" services.   These businesses operate by buying old unused jewelry from individuals and then melting it down and refining the gold, silver and platinum for re-sale on the open market.

It's a booming field today because the price of gold today is at near record highs. This means that even relatively small gold trinkets can have significant value.  In uncertain economic times, many people are looking to generate extra cash to pay bills and expenses and unused or broken jewelry can be a quick source of money.

What are Your Options

If you have jewelry you are interested in selling, you can either take it to a local pawn shop or jewelry store or use an online gold refiner.  People have natural concerns about sending their valuables to an unfamiliar online company; however, the online option can actually be the best.  That's because, unlike your local pawnshop, these companies specialize in gold recycling so they typically can pay a higher price for the gold they buy.

There are few things to keep in mind when considering an online service:

• 1. Gold refiners are only interested in the precious metals contained in your items, not the artistic or sentimental value, so the price you get may be below what you paid for an item.
• 2. Take a photograph of all of the items you are sending and if possible note any purity marks from the items (gold jewelry will usually be stamped with the carat value)
• 3. Make sure the service you use is a member of the Better Business Bureau.

Which Service to Use

One of the leading services in this field is a company called MyGoldEnvelope.  MyGoldEnvelope is backed by a publicly traded company that specializes in satisfying customers looking to sell their old jewelry for cash.

They have developed a secure streamlined procedure for working with clients that includes the following:

• 1. They provide their customers with a free mailing-Pak that can be used to send in jewelry - pre-paid and fully insured by the company.
• 2. Once they receive items from a customer they appraise and weigh them for precious metal content, and determine a valuation.
• 3. Within 24 hours they dispatch a check to you for the value.
• 4. In the event that you are unhappy with the valuation, simply return the check and they will return your items to you free of charge.

This guaranteed no-risk approach has resulted in thousands of satisfied customers!

While it may feel strange mailing your valuables to a refiner, rest assured that thousands of people are doing it daily and are satisfied with the payment and service they receive.

Getting money for your gold online - It's a legitimate way to turn old, unused jewelry into quick cash, and there's nothing wrong with that!

To check out MyGoldEnvelope's services, click here.