Is it worth selling your gold, silver or platinum to a money4gold business

December 17th, 2009 by admin

Considering the present condition of the US economy and the forever increasing surge in gold,silver and platinum prices , it is obvious why people are taking out their used gold and silver jewelry and are selling them to cash 4 gold industries as a way to acquire some more money to reduce some financial woes in an effort to make ends meet.Maybe you are in the same situation you will be wise to cautiously do your research before selling your gold or silver to just any gold brokers in that there is a large number of scam companies in the jewelry buying business who will without conscience take advantage of your financial desperation and give you next to nothing for your gold, silver or platinum jewelry.Even though this practice may not be a scam, it is in any case, wrong and I feel it necessary to warn those of you who are considering selling your unwanted unwanted jewelry to be certain to stay away from businesses that are acting as middle men and to do business only with refineries or gold buyers that institute their in-house refineriesThe truth is, cash for gold companies are doing nothing more than acting as brokers between you and a precious metal refinery and as a result they will give you about 30% of the true value for your gold or silver jewelry and easily trade it back to a precious metal dealer themselves thereby keeping the largest share while you receive a few measly bucks.A short while ago, Fox news put together a kind of undercover operation, where they delivered three exact same pieces of jewelry to three separate cash for gold dealers and waited for their check and while 3 of the businesses did in fact give them a payment for their unwanted jewelry, only one of those gold buyers actually submitted the true value while the other 2 gold buyers payed out 30% of today’s current market value.The two companies that fell short were acting as middle men while the 3rd gold buyer that payed the true value did own their own precious metal refinery, so it is customer beware in this business and I strongly suggest that you do your homework before parting with used gold or silver jewelry so that you don’t fall prey to the cash for gold scam

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