Will you get ripped off if you trade your unwanted gold jewelery to a money for gold business
TheLoudestVoice | February 3, 2010
Because of the latest condition of the US economy and the ever increasing surge in gold and silver prices , it is obvious why people are taking out their damaged Gold, silver and other precious metals and are pawning them to cash 4 gold businesses in an effort to make some extra dollars to pay down some debts and to get out of debt.
Assuming you are in the same situation you will need to carefully do your homework before trading your gold or silver to just any gold buyers in that there is a large number of unscrupulous companies in the gold buying business who will happily prey on your financial desperation and reward a small percentage for your precious jewelry.
The fact that this behavior may not be illegal, it is in my opinion, very wrong and I am here to tell those of you who are considering selling your broken unwanted jewelry to be sure to refrain from dealing with companies that are posing as middle men and to do business only with metal refineries or cash 4 gold companies that have their own personal metal refineries
The fact is, gold buyer are doing nothing more than acting as a go-between, between you and a precious metal refinery and as a result they will give you in the area of 30 percent of the actual value for your gold and easily sell it directly to a gold refiner themselves thereby pocketing the larger share and you keep a few lousy dollars.
A short while ago, Fox news implemented a kind of undercover sting, in that they delivered three exact same pieces of jewelry to 3 individual gold buyers and waited for their check and while 3 of the gold buyers did in fact give them a pay out for the old jewelry, only 1 of those companies actually paid the current market value while the other cash for gold companies payed about 30 percent of today’s current value.
The 2 gold buyers that gave so little were acting as a middle man while the third cash for gold company that payed the real value did have their own gold refinery, so it is seller beware in this business and I surely suggest that you do your part before trading in your used family jewelry so that you can not fall for the cash 4 gold scam
