Should you be selling your precious metals to a CashforGold broker
December 27th, 2009
Considering the latest condition of the world economy and the forever increasing spike in precious metal prices , it is necessary that people are rooting out their old gold and platinum jewelry and are selling them to cash 4 gold buyers as a way to acquire some extra income to get rid of some extra debits in order to meet their next payments.If you are in the same situation you will need to methodically do your research before giving away your gold,silver or platinum to just any gold brokers because there is a huge increase in the amount of unscrupulous gold brokers in the gold buying business who won’t hesitate to take advantage of your desperation and pay almost nothing for your gold and silver.Although this behavior is not illegal, it is however, immoral and unethical and I want to inform those of you who are thinking of getting rid of your defective gold, silver or platinum jewelry to be certain to refrain from dealing with gold buyers that are acting as middle men and to do business only with metal refineries or cash for gold businesses that institute their own metal refineriesYou see, cash for gold companies are doing nothing more than acting as brokers between you and a gold refinery and therefore they will pay you about 1/3 of the true value for your gold, silver or platinum and easily resell it directly to a gold refiner themselves therefore keeping the lions share while you get a couple measly dollars.In recent days, Fox news put together a sort of undercover sting, in that they brought in three of the same amounts of gold to three different precious metal businesses and waited for their payout and while 3 of the companies did in fact give them a payment for their used jewelry, only 1 of those cash 4 gold companies actually gave the true value while the other cash for gold companies payed approximately 1/3 of the current value.The 2 businesses that that payed out 1/3 of the market value were acting as a middle man while the third company that payed the current market value did own their own metal refinery, so it is customer beware in this industry and I absolutely recommend that you do your part before trading in your broken gold or silver jewelry so that you don’t get taken by the cash for gold scam
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