Is it worth selling your unwanted gold to a cash for gold company

December 3rd, 2009 by admin

Is it worth selling your unwanted gold to a cash for gold company Because of the current state of the US economy and the forever increasing surge in gold,silver and platinum prices , it is necessary that people are taking out their unwanted gold and silver jewelry and are trading them to cash 4 gold buyers in an effort to acquire some additional cash to get rid of their extra bills in order to make future bill payments.  Maybe you are in the same situation you will want to methodically do your research before giving away your gold,silver or platinum to just any company in that there are an ever increasing number of fraudulent cash for gold companies in the precious metal buying industry who will happily take advantage of your desperation and pay you next to nothing for your gold, silver and platinum.  Even though this practice is not illegal, it is in my opinion, totally wrong and I feel it necessary to warn those of you who are thinking of getting rid of your outdated gold, silver or platinum jewelry to be certain to refrain from dealing with companies that are acting as gold brokers and to conduct business only with metal refineries or gold buyers that have their own metal refineries You must realize, cash for gold buyers are simply acting as brokers between you and a metal refiner and as a result they will pay you in the neighborhood of 30% of the value for your fine jewelry and instantly trade it back to a precious metal dealer themselves thereby pocketing the largest share while you keep a couple lousy bucks.  A short while ago, Fox news implemented a kind of undercover sting, where they sent in three identical pieces of gold jewelry to three individual precious metal companies and waited for their payout and while all of the businesses did in fact send a check for their used gold, only one of those companies actually submitted the current market value while the other two companies payed approximately 1/3 of today’s value.  The other 2 companies that gave so little were acting as middle men while the 3rd company that payed the true value did utilize their own in-house refinery, so it is consumer beware in this business and I strongly suggest that you do your research before trading in your old precious jewelry

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