If you have old jewelry or a coin collection, or maybe a few ugly earrings lying around your house, selling gold for cash can be an easy way to make some money. And with gold prices currently historically high, it’s a great time to do it.

However, before you sell gold items you should weigh them on a kitchen or postal scale to get an idea of their weight. This will help you avoid being overcharged or underpaid. It’s also important to check the karat symbol and markings on the item to ensure it is genuine gold, not some other alloy. It is helpful to get multiple offers from reputable gold buyers to compare and negotiate.

The Ultimate Guide to Selling Gold: Tips, Tricks, and Market Insights

A legitimate buyer will require a signature, ID Card, and possibly a thumbprint or fingerprint to verify you as the owner of the items. You should not trust a company that does not do this as they may be operating illegally. Once you have weighed and tested your items, a qualified gold buyer will provide you with an offer either online or over the phone. They will pay you via check, PayPal, Venmo, Apple Pay, Zelle, or a wire transfer.

One online gold buyer, SellYourGold, claims to offer one of the best payouts in the industry. They have paid over $27 million to their customers. They evaluate the item by measuring its weight and karat, inspecting for scratches, marks, and other signs of wear. They also heat the item to determine if it is real or fake, as real gold gets brighter under heat while fake gold gets darker.