Will you be scammed if you sell your unwanted gold to a money4gold company

Considering the current state of the North American economy and the forever increasing surge in gold,silver and platinum prices , it is obvious why people are taking out their broken Gold, silver and other precious metals and are trading them to cash 4 gold buyers because they need to come up with some extra money to reduce some financial woes as a way to make their next mortgage payment.Maybe you are experiencing the same situation you will need to cautiously do your homework before trading your unwanted jewelry to just any gold buyers in that there is a large number of fraudulent gold brokers in the precious metal buying industry who won’t hesitate to prey on your financial desperation and reward very little for your gold.Even though this behavior may not be a scam, it is however, wrong and I feel it necessary to make it known to those of you who may be thinking of exchanging your outdated jewelry to be sure to stay away from businesses that are acting as middle men and to deal only with refineries or cash 4 gold companies that institute their own personal refineriesThe fact is, gold buyer are doing nothing more than acting as a go-between, between you and a gold refinery and because of that they will reward you in the area of 30% of the market price for your gold and turn around and sell it back to a precious metal dealer themselves therefore obtaining the largest share and  you receive a couple lousy bucks.Recently, Fox news conducted a kind of undercover sting, where they submitted 3 exact pieces of gold jewelry to 3 individual cash for gold businesses and waited for their payout and while all of the gold buyers did in fact send a check for the unwanted jewelry, only one of those gold buyers actually paid the real value of their gold while the other cash for gold companies payed out 30% of today’s true value .The two cash for gold companies that gave so little were acting as a middle man while the 3rd cash for gold company that payed the true value did in fact own their own precious metal refinery, so it is customer beware in this business and I surely suggest that you do your homework before trading in your used gold or silver jewelry so that you don’t fall for the cash for gold scam

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay

Comments are closed.