Will you get ripped off if you trade your outdated gold or silver jewelry to a cash 4 gold broker
Because of the present state of the world economy and the ever increasing spike in gold prices , it is necessary that people are digging out their used gold and platinum jewelry and are trading them to cash 4 gold refineries as a method to acquire some extra money to lower their extra financial woes in order to meet their next payments.
Assuming you are in the same situation you will need to methodically do your homework before trading your gold jewelry to just any gold dealers for the reasons that there is a huge increase in the number of scam gold brokers in the precious metal buying industry who won’t hesitate to take advantage of your desperate situation and give you next to nothing for your gold and silver.
Even though this behavior may not be a scam, it is in any case, immoral and unethical and I feel it necessary to warn those of you who are considering getting rid of your unwanted gold, silver or platinum to be sure to stay away from gold buyers that are acting as middle men and to do business only with refineries or cash for gold companies that utilize their own metal refineries
You must realize, gold buyer are nothing more than brokers between you and a gold refinery and therefore they will pay you in the neighborhood of 30 percent of the value for your gold jewelry and turn around and trade it directly to a gold refiner themselves therefore pocketing the lions share and in turn you keep a few lousy dollars.
Not so long ago, Fox news conducted a kind of undercover operation, where they mailed in 3 identical items of gold jewelry to three separate cash for gold businesses and waited for their payout and while all of the businesses did in fact forward a payment for the broken gold, only 1 of those cash 4 gold companies actually submitted the true value while the other 2 gold buyers payed about one third of today’s value.
The 2 cash4gold companies that that payed out 1/3 of the market value were acting as brokers while the third gold buyer that payed the current market value did in fact own their own gold refinery, so it is customer beware in this business and I strongly recommend that you do your homework before selling your unneeded gold jewelry so that you can’t become a victim of the cash 4 gold scam