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Should you trade your precious metals to a cash 4 gold business
December 11th, 2009 by admin
When you consider the present state of the North American economy and the ever increasing rise in gold prices , it is no wonder people are rooting out their unwanted Gold, silver and other precious metals and are pawning them to cash 4 gold buyers in an effort to come up with some additional money to reduce some extra debts to to get out of debt.Assuming you are experiencing the same situation you will be wise to methodically do your investigative work before unloading your gold,silver or platinum to just any company because there is a huge increase in the number of fraudulent companies in the precious metal buying business who will gladly prey on your desperate situation and give almost nothing for your gold, silver or platinum jewelry.I realize that this practice isn’t a scam, it is in my opinion, immoral and unethical and I am here to make it known to those of you who might be considering parting with your used gold, silver or platinum jewelry to be sure to stay away from gold buyers that are acting as gold brokers and to conduct business only with precious metal refineries or cash for gold companies that own their own precious metal refineriesThe fact is, cash4gold businesses are simply acting as middle men between you and a gold refinery and because of that they will give you in the neighborhood of 1/3 of the actual value for your gold, silver or platinum and turn around and trade it directly to a gold refiner themselves and they will be keeping the larger share and in turn you get a few lousy dollars.A short while ago, Fox news put together a sort of undercover operation, where they delivered 3 of the same items of gold to 3 separate precious metal businesses and waited for their payout and while all of the gold buyers did in fact give them a payment for their unwanted gold, only one of those cash for gold businesses actually submitted the real value of their gold while the other cash for gold companies payed about 1/3 of the current value.The two cash for gold companies that payed out such a small amount were acting as a middle man while the 3rd cash for gold company that payed the true value did in fact own their own precious metal refinery, so it is seller beware in this business and I highly recommend that you do your part before unloading your broken gold or silver jewelry so that you don’t fall for the cash 4 gold scam