Will you get a fair price if you sell your gold jewelery to a cash for gold broker
Thursday, December 17th, 2009Because of the current condition of the American economy and the continuous increasing movement upwards in gold prices , it is obvious why people are rooting out their used gold jewelry and are pawning them to cash 4 gold industries as a method to make some spare income to get rid of some extra financial woes in an effort to get out of debt.Maybe you are in the same situation you will be wise to carefully do your research before trading your unwanted jewelry to just any company for the reasons that there is a large number of scam gold brokers in the gold buying industry who will gladly take advantage of your financial desperation and reward a small percentage for your gold and silver.I realize that this practice isn’t a scam, it is in any case, totally wrong and I feel obligated to make it known to those of you who are thinking of exchanging your used gold or silver to be certain to stay away from gold buyers that are posing as gold brokers and to do business only with gold refineries or cash for gold businesses that utilize their own gold refineriesYou see, cash4gold businesses are simply acting as a go-between, between you and a metal refiner and therefore they will reward you approximately 30% of the market price for your gold and quickly sell it directly to a gold refiner themselves and they will be keeping the largest share while you keep a couple measly bucks.In recent days, Fox news conducted a kind of undercover sting, in that they delivered 3 exact items of jewelry to 3 separate gold buyers and waited for their payout and while 3 of the businesses did in fact send a check for the old jewelry, only one of those companies actually submitted the current market value while the other 2 gold buyers payed out 30% of today’s true value .The two gold buyers that payed out such a small amount were acting as a middle man while the 3rd company that payed the real value did utilize their own gold refinery, so it is seller beware in this industry and I surely suggest that you do your homework before unloading your unwanted gold jewelry so that you should not fall for the cash for gold scam