4 February 2010
Will you be scammed if you sell your gold, silver or platinum to a money4gold company
Posted by articleranks under: Uncategorized .
Considering the live condition of the American economy and the ever increasing spike in gold prices , it is no wonder people are rooting out their used gold jewelry and are pawning them to cash 4 gold industries because they need to acquire some spare dollars to pay down some debts to to make their next mortgage payment.
Maybe you are experiencing the same situation you will need to methodically do your homework before distributing your gold,silver or platinum to just any company in that there is a large number of unscrupulous companies in the gold buying business who will without conscience prey on your desperation and pay very little for your gold or silver jewelry.
Although this behavior isn’t illegal, it is in any case, immoral and unethical and I want to inform those of you who may be considering selling your used gold jewelry to be certain to avoid gold buyers that are posing as middle men and to do business only with gold refineries or gold buyers that have their own gold refineries
The truth is, cash for gold companies are doing nothing more than acting as a go-between, between you and a gold refinery and therefore they will pay you approximately one third of the true value for your gold and quickly sell it back to a precious metal dealer themselves and they will be obtaining the lions share while you get a couple measly bucks.
A short while ago, Fox news put together a kind of undercover sting, where they brought in three exact same items of gold to three separate precious metal companies and waited for the payment and while 3 of the businesses did in fact give them a payment for the broken gold, only one of those gold buyers actually submitted the true value while the other 2 gold buyers payed about one third of the current value.
The other 2 companies that that payed 30% of the real value were acting as brokers while the 3rd cash 4 gold business that payed the most value did have their own precious metal refinery, so it is consumer beware in this industry and I absolutely suggest that you do your utmost before unloading your broken gold jewelry so that you won’t get sucked into the cash 4 gold scam