Will you be scammed if you sell your gold, silver or platinum to a cash 4 gold business
Considering the live condition of the global economy and the ever increasing upward rise in gold,silver and platinum prices , it is obvious why people are rooting out their broken gold and silver jewelry and are unloading them to cash 4 gold dealers as a way to make some more cash to reduce their extra financial woes to to make future bill payments.
If you are experiencing the same situation you will be wise to carefully do your investigative work before giving away your gold or silver to just any company because there is a huge increase in the number of unscrupulous cash for gold companies in the jewelry buying industry who will gladly take advantage of your desperate situation and reward almost nothing for your gold jewelry.
I realize that this way of doing business may not be fraudulent by definition, it is however, very wrong and I feel it necessary to make it known to those of you who are considering exchanging your unwanted unwanted jewelry to be certain to avoid businesses that are posing as middle men and to deal only with metal refineries or cash 4 gold businesses that institute their own personal metal refineries
The fact is, cash for gold companies are nothing more than brokers between you and a gold refinery and therefore they will reward you about 1/3 of the actual value for your fine jewelry and instantly resell it back to a precious metal dealer themselves therefore obtaining the lions share while you receive a few measly bucks.
Recently, Fox news put together a kind of undercover operation, where they mailed in 3 exact same amounts of gold to 3 separate precious metal dealers and waited for their check and while 3 of the companies did in fact forward a payment for their old jewelry, only one of those cash for gold buyers actually paid the real value of their gold while the other two companies payed about 1/3 of today’s true value .
The other 2 companies that fell short were acting as a go-between while the third cash for gold company that payed the true value did in fact own their own in-house refinery, so it is seller beware in this industry and I highly recommend that you do your part before trading in your broken precious jewelry so that you shouldn’t fall for the cash for gold scam
I don’t think you can generalize about being ripped off by the online gold guys….I had a really great experience with one and was very pleased with the transaction. I did lots of digging to find a good one and found these guys. I was really surprised that they offered so much more than my local jewelers and pawn shops and that it was so fast. They were really honest and really professional. I was happy. Silver And Gold Exchange (http://SilverAndGoldExchange.com)