Torpedo Betty Blog
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Should you trade your gold jewelery to a CashforGold broker
December 31st, 2009 by admin
Considering the latest condition of the global economy and the forever increasing upward rise in gold prices , it is obvious why people are digging out their used gold, silver and platinum jewelry and are getting rid of them to cash 4 gold buyers as a way to come up with some more income to reduce their extra debits to to meet their next payments.If you are in the same situation you will need to cautiously do your research before giving away your gold jewelry to just any gold dealers because there are an ever increasing amount of unethical gold buyers in the jewelry buying business who will gladly take advantage of your financial situation and reward almost nothing for your gold jewelry.Although this way of doing business is not a scam, it is in my opinion, not in your best interest and I feel obligated to inform those of you who might be considering exchanging your defective gold jewelry to be sure to refrain from dealing with companies that are acting as middle men and to deal only with gold refineries or gold buyers that own their own gold refineriesThe truth is, cash for gold buyers are being middle men between you and a metal refiner and as a result they will reward you in the area of 1/3 of the true value for your gold and quickly resell it back to a precious metal dealer themselves thereby keeping the largest share and in turn you get a couple lousy bucks.Not so long ago, Fox news conducted a sort of undercover sting, in that they submitted three replica amounts of gold to three different cash for gold companies and waited for their payout and while 3 of the gold buyers did in fact deliver a check for their broken gold, only 1 of those cash for gold businesses actually gave the real value of their gold while the other two companies payed approximately 1/3 of the current value.The 2 businesses that that payed 30% of the real value were acting as middle men while the 3rd company that payed the current market value did utilize their own precious metal refinery, so it is consumer beware in this business and I absolutely recommend that you do your utmost before parting with used gold jewelry so that you can’t fall prey to the cash 4 gold scam