These days, no doubt you've seen lots of advertising for "cash-for-gold" services.   These businesses operate by buying jewelry from individuals and then melting it down and refining the gold, silver and platinum for re-sale.

This business is booming for 2 main reasons:

• The price of gold today is at near record highs. This means that even relatively small gold trinkets can have significant value.
• Because of the recession, many people are looking to generate extra cash to pay bills and expenses and unused or broken jewelry can be a quick source of cash.

If you have jewelry that you are interested in selling, you can either take it to a local pawn shop or jewelry store or use an online gold refiner.

Many people have natural concerns about sending their valuables to an unfamiliar online company, but with a little research, the online option can be the best.  That's because, unlike the local pawnshop, these companies specialize in gold recycling so they 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. Be sure to use a refiner that provides you with insured pre-paid shipping of your gold with a reputable service such as FedEx. The insurance provided by FedEx will guarantee you will get paid if anything happens to the shipment.
3. 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)
4. Once the refiner receives your items they will scientifically test them to determine the precious metals content and weight and then advise you of their proposed price.
5. All reputable refiners will return your items to you at their cost if you don't wish to accept the price they offer.
6. If you believe the price offered is too low try to get them to increase the price. Sometimes, they will cut into their margin and raise their price.
7. Once you accept the price, the refiner will generally mail you a check, or transfer the agreed upon amount directly to your bank account within 24 hours.
8. Make sure the service you use is a member of the Better Business Bureau.

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.

Cash For Gold - It's a legitimate way to turn old, unused jewelry into quick cash, and there's nothing wrong with that!