Will you be scammed if you sell your unwanted gold to a dollars 4 gold business
December 22nd, 2009 by admin
Considering the current condition of the global economy and the continuous increasing upward rise in gold and silver prices , it is necessary that people are digging out their old gold, silver and platinum jewelry and are trading them to cash 4 gold dealers as a method to find some extra dollars to reduce some debts in order to make future bill payments.Assuming you are in the same situation you will want to methodically do your research before distributing your gold jewelry to just any gold dealers because there are an ever increasing amount of unethical gold brokers in the precious metal buying business who will without conscience prey on your financial desperation and pay very little for your precious metal.Although this way of doing business isn’t illegal, it is in any case, totally wrong and I feel obligated to make it known to those of you who might be thinking of parting with your unwanted gold to be sure to avoid businesses that are acting as middle men and to deal only with metal refineries or cash for gold businesses that own their own metal refineriesThe fact is, gold brokers are simply acting as brokers between you and a metal refiner and as a result they will pay you in the area of 30 percent of the value for your gold or silver jewelry and turn around and sell it directly to a gold refiner themselves thereby pocketing the larger share and you get a few lousy bucks.A short while ago, Fox news implemented a sort of undercover sting, where they delivered three of the same items of jewelry to three individual precious metal dealers and waited for their payout and while all of the businesses did in fact give them a pay out for their used jewelry, only 1 of those cash 4 gold companies actually paid the current market value while the other 2 gold buyers payed approximately 30 percent of today’s current market value.The two companies that fell short were acting as brokers while the 3rd cash 4 gold business that payed the real value did utilize their own gold refinery, so it is seller beware in this business and I strongly recommend that you do your research before selling your unwanted gold, silver or platinum jewelry so that you won’t get sucked into the cash for gold scam