Dec 08 2009
Should you sell your outdated gold or silver jewelry to a cash 4 gold company
Considering the actual condition of the US economy and the forever increasing upward rise in precious metal prices , it is no wonder people are getting out their unwanted gold and silver jewelry and are unloading them to cash 4 gold businesses as a way to acquire some more income to reduce their extra debts as a way to meet their next payments.
let’s say you are experiencing the same situation you will want to cautiously do your investigative work before selling your gold or silver to just any gold buyers because there is a huge increase in the amount of fraudulent gold brokers in the precious metal buying industry who will without conscience prey on your financial situation and pay very little for your gold.
Even though this way of doing business isn’t illegal, it is however, wrong and I am here to tell those of you who may be considering trading your unwanted gold jewelry to be sure to avoid companies that are posing as gold brokers and to do business only with precious metal refineries or gold buying companies that utilize their in-house precious metal refineries
The truth is, cash for gold companies are nothing more than a go-between, between you and a gold refinery and because of that they will pay you about 30 percent of the true value for your gold, silver or platinum and turn around and sell it back to a gold buyer themselves therefore keeping the largest share and in turn you keep a couple lousy dollars.
In recent days, Fox news put together a kind of undercover sting, where they mailed in 3 identical pieces of gold jewelry to 3 separate cash for gold businesses and waited for their check and while 3 of the companies did in fact give them a payment for the unwanted jewelry, only one of those gold buyers actually submitted the current market value while the other cash for gold companies payed out 30 percent of the current value.
The two cash for gold companies that gave so little were acting as a middle man while the third cash for gold company that payed the true value did utilize their own gold refinery, so it is seller beware in this business and I surely suggest that you do your homework before unloading your unwanted precious jewelry so that you do not become a victim of the cash 4 gold scam