Will you be scammed if you sell your gold to a money for gold website

January 3rd, 2010 by admin

When you take into consideration the live condition of the US economy and the ever increasing spike in gold,silver and platinum prices , it is no wonder people are rooting out their damaged gold and silver jewelry and are pawning them to cash 4 gold brokers as a way to come up with some spare income to pay off their debts in order to get out of debt.Assuming you are in the same situation you will need to methodically do your investigative work before trading your unwanted jewelry to just any gold dealers because there is a huge increase in the number of fraudulent cash for gold companies in the precious metal buying industry who will happily take advantage of your financial desperation and reward very little for your gold, silver and platinum.Although this way of doing business may not be fraudulent by definition, it is in any case, immoral and unethical and I am here to warn those of you who are considering trading your outdated jewelry to be sure to refrain from dealing with gold buyers that are acting as gold brokers and to do business only with precious metal refineries or cash 4 gold buyers that have their own personal precious metal refineriesYou must realize, cash for gold buyers are nothing more than middle men between you and a metal refiner and as a result they will reward you in the area of 1/3 of the market price for your gold, silver or platinum and turn around and unload it directly to a gold refiner themselves therefore keeping the larger share and  you keep a few measly bucks.Not so long ago, Fox news conducted a sort of undercover sting, where they delivered 3 exact same amounts of gold to 3 different cash for gold companies and waited for their payout and while 3 of the gold buyers did in fact give them a payment for their unwanted gold, only one of those cash for gold businesses actually paid the real value of their gold while the other cash for gold companies payed out 1/3 of today’s current value.The two gold buyers that fell short were acting as brokers while the third cash for gold company that payed the real value did in fact own their own metal refinery, so it is seller beware in this business and I highly suggest that you do your utmost before trading in your unwanted gold jewelry so that you don’t fall prey to the cash for gold scam

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