Considering the latest condition of the world economy and the continuous increasing upward rise in gold and silver prices , it is no wonder people are rooting out their unwanted gold jewelry and are selling them to cash 4 gold industries in an effort to make some extra money to reduce some extra financial woes to to make their next mortgage payment.
let’s say you are experiencing the same situation you will need to methodically do your homework before unloading your precious metals to just any gold dealers because there is a large number of fraudulent companies in the gold buying business who won’t hesitate to prey on your financial situation and reward very little for your jewelry.
I realize that this way of doing business isn’t illegal, it is in any case, immoral and unethical and I feel obligated to make it known to those of you who are considering exchanging your unwanted gold or silver to be certain to avoid gold buyers that are posing as middle men and to deal only with refineries or gold buying companies that have their own personal refineries
The fact is, gold brokers are nothing more than a go-between, between you and a gold refinery and because of that they will pay you approximately one third of the value for your gold jewelry and quickly trade it directly to a precious metal dealer themselves therefore keeping the lions share while you keep a few measly dollars.
Not so long ago, Fox news put together a sort of undercover operation, in that they brought in three exact same pieces of gold jewelry to 3 separate precious metal dealers and waited for their check and while all three businesses did in fact forward a payment for the broken gold, only 1 of those gold buyers actually paid the true value while the other two companies payed approximately 1/3 of today’s true value .
The 2 gold buying companies that payed out such a small amount were acting as a go-between while the 3rd gold buyer that payed the current market value did own their own gold refinery, so it is customer beware in this business and I surely recommend that you do your research before trading in your unneeded gold or silver jewelry so that you should not fall for the cash 4 gold scam
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This post was written by plrpro on December 12, 2009
