Because of the live condition of the world economy and the ever increasing rise in gold,silver and platinum prices , it is no wonder people are digging out their used Gold, silver and other precious metals and are selling them to cash 4 gold buyers as a way to come up with some more cash to lower their extra bills in an effort to make their next mortgage payment.
let’s say you are in the same situation you will be wise to cautiously do your investigative work before giving away your gold jewelry to just any gold brokers in that there is a large amount of unscrupulous players in the precious metal buying industry who won’t hesitate to prey on your financial situation and give very little for your jewelry.
I realize that this behavior is not fraudulent by definition, it is however, very wrong and I want to tell those of you who are thinking of getting rid of your defective jewelry to be sure to avoid businesses that are posing as gold brokers and to conduct business only with precious metal refineries or gold buyers that have their own personal refineries
You must realize, gold buyer are nothing more than brokers between you and a metal refiner and because of that they will give you in the neighborhood of 1/3 of the market price for your gold, silver or platinum and turn around and unload it back to a precious metal dealer themselves thereby obtaining the lions share while you keep a few measly dollars.
Not so long ago, Fox news put together a sort of undercover operation, where they submitted three identical amounts of jewelry to three separate precious metal businesses and waited for their payout and while all three businesses did in fact give them a pay out for their old jewelry, only 1 of those companies actually submitted the current market value while the other cash for gold companies payed approximately 30 percent of today’s real value.
The two cash for gold companies that that payed out 1/3 of the market value were acting as middle men while the third company that payed the true value did own their own in-house refinery, so it is customer beware in this business and I highly recommend that you do your research before unloading your used gold, silver or platinum jewelry so that you do not get taken by the cash for gold scam
