Will you be scammed if you sell your outdated gold or silver jewelry to a cash4gold company
Considering the actual condition of the US economy and the forever increasing surge in gold prices , it is no wonder people are rooting out their used gold, silver and platinum jewelry and are getting rid of them to cash 4 gold companies because they need to make some more cash to pay down some extra bills in order to make ends meet.
If you are in the same situation you will need to methodically do your research before selling your precious metals to just any gold brokers because there are an ever increasing amount of scam gold brokers in the jewelry buying industry who won’t hesitate to prey on your desperate situation and pay you next to nothing for your precious jewelry.
Although this way of doing business isn’t illegal, it is in any case, totally wrong and I want to make it known to those of you who may be thinking of selling your used jewelry to be sure to refrain from dealing with businesses that are acting as middle men and to do business only with refineries or cash 4 gold businesses that utilize their in-house refineries
You must realize, cash4gold businesses are simply acting as brokers between you and a precious metal refinery and because of that they will pay you approximately 30% of the market price for your gold, silver or platinum and instantly sell it back to a gold refiner themselves thereby obtaining the lions share and in turn you receive a few measly dollars.
Not so long ago, Fox news implemented a sort of undercover operation, where they submitted three of the same items of gold to three individual precious metal dealers and waited for their check and while 3 of the gold buyers did in fact forward a payment for their unwanted gold, only 1 of those cash for gold companies actually gave the true value while the other cash for gold companies payed approximately 30% of the current value.
The two gold buyers that fell short were acting as a middle man while the third company that payed the real value did in fact own their own precious metal refinery, so it is seller beware in this industry and I absolutely recommend that you do your part before parting with unneeded family jewelry so that you don’t become a victim of the cash for gold scam
