Will you be scammed if you sell your gold jewelery to a dollars4gold broker
December 28th, 2009
When you consider the live state of the American economy and the forever increasing movement upwards in gold,silver and platinum prices , it is no wonder people are rooting out their used gold and platinum jewelry and are unloading them to cash 4 gold dealers as a method to come up with some additional income to pay down their extra bills and to get out of debt.Maybe you are experiencing the same situation you will be wise to carefully do your homework before giving away your gold or silver to just any company because there are an ever increasing amount of scam companies in the precious metal buying industry who will without conscience take advantage of your financial desperation and give very little for your gold jewelry.I realize that this behavior is not a scam, it is in my opinion, wrong and I feel obligated to warn those of you who may be thinking of getting rid of your broken gold to be sure to stay away from gold buyers that are posing as gold brokers and to do business only with refineries or gold buyers that utilize their in-house refineriesYou see, cash for gold companies are simply acting as a go-between, between you and a metal refiner and because of that they will give you approximately 30% of the true value for your gold and instantly trade it directly to a precious metal dealer themselves and they will be obtaining the largest share and you keep a few measly bucks.In recent days, Fox news implemented a kind of undercover sting, where they mailed in 3 replica pieces of gold jewelry to 3 different precious metal businesses and waited for their check and while 3 of the companies did in fact give them a pay out for the used gold, only 1 of those cash for gold buyers actually gave the true value while the other 2 gold buyers payed approximately 30% of the current value.The 2 businesses that payed out such a small amount were acting as middle men while the third company that payed the real value did have their own in-house refinery, so it is customer beware in this business and I highly recommend that you do your research before parting with broken gold, silver or platinum jewelry so that you do not fall prey to the cash for gold scam
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