Will you be scammed if you sell your unwanted gold jewelery to a CashforGold broker

December 26th, 2009 by admin

Because of the latest condition of the US economy and the ever increasing movement upwards in gold prices , it is no wonder people are getting out their unwanted gold jewelry and are unloading them to cash 4 gold dealers as a method to acquire some extra cash to pay down some extra debts as a way to get out of debt.let’s say you are in the same situation you will want to methodically do your investigative work before unloading your precious metals to just any gold buyers in that there is a huge increase in the number of unscrupulous players in the precious metal buying industry who will without conscience prey on your desperate situation and reward a small percentage for your gold.The fact that this practice may not be fraudulent by definition, it is in my opinion, immoral and unethical and I feel obligated to warn those of you who might be thinking of trading your unwanted jewelry to be sure to refrain from dealing with companies that are posing as gold brokers and to conduct business only with metal refineries or cash for gold companies that utilize their in-house metal refineriesThe fact is, cash for gold companies are simply acting as middle men between you and a gold refinery and therefore they will reward you in the neighborhood of 1/3 of the actual value for your gold or silver jewelry and turn around and trade it directly to a gold refiner themselves therefore keeping the largest share and in turn you get a few lousy bucks.In recent days, Fox news implemented a sort of undercover sting, where they mailed in 3 identical amounts of jewelry to 3 different precious metal companies and waited for the payment and while all of the businesses did in fact give them a pay out for their used jewelry, only one of those cash 4 gold companies actually paid the real value of their gold while the other two companies payed out 1/3 of the current value.The two companies that fell short were acting as middle men while the third cash 4 gold business that payed the real value did own their own gold refinery, so it is consumer beware in this business and I highly suggest that you do your part before unloading your unneeded gold, silver or platinum jewelry so that you don’t get taken by the cash 4 gold scam

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