Is it worth selling your broken jewelery to a cash for gold company

December 11th, 2009 by admin

When you consider the live condition of the American economy and the ever increasing movement upwards in gold prices , it is no wonder people are bringing out their old gold and silver jewelry and are selling them to cash 4 gold dealers because they need to find some extra money to get rid of some bills in order to get out of debt.let’s say you are in the same situation you will be wise to methodically do your research before distributing your gold,silver or platinum to just any gold buyers because there is a huge increase in the number of unethical gold buyers in the gold buying business who will gladly prey on your desperate situation and reward a small percentage for your gold and silver.The fact that this way of doing business isn’t fraudulent by definition, it is in my opinion, very wrong and I feel obligated to make it known to those of you who may be thinking of trading your defective unwanted jewelry to be sure to stay away from businesses that are posing as gold brokers and to conduct business only with metal refineries or cash for gold businesses that utilize their own personal metal refineriesThe truth is, cash for gold companies are nothing more than a go-between, between you and a metal refiner and because of that they will reward you about 30 percent of the true value for your fine jewelry and quickly unload it directly to a gold buyer themselves and they will be keeping the largest share and in turn you get a few lousy bucks.Recently, Fox news put together a sort of undercover operation, in that they sent in three exact items of gold jewelry to three separate precious metal buyers and waited for their check and while 3 of the businesses did in fact deliver a check for their old jewelry, only one of those cash for gold buyers actually gave the current market value while the other two companies payed about 30 percent of today’s true value .The two gold buyers that that payed 30% of the real value were acting as a middle man while the 3rd cash 4 gold business that payed the most value did own their own precious metal refinery, so it is seller beware in this industry and I surely suggest that you do your utmost before parting with used gold or silver jewelry so that you won’t fall for the cash 4 gold scam

Posted in News