Is it worth selling your outdated gold or silver jewelry to a dollars for gold broker
Considering the current condition of the North American economy and the forever increasing surge in gold and silver prices , it is necessary that people are taking out their unwanted Gold, silver and other precious metals and are selling them to cash 4 gold brokers as a way to make some spare cash to pay down their bills as a way to get out of debt.
Assuming you are in the same situation you will want to methodically do your investigative work before unloading your gold or silver to just any company for the reasons that there are an ever increasing number of scam companies in the jewelry buying industry who won’t hesitate to prey on your financial situation and pay very little for your gold and silver.
Even though this way of doing business is not illegal, it is however, not in your best interest and I feel it necessary to warn those of you who are considering selling your used gold jewelry to be certain to refrain from dealing with gold buyers that are acting as gold brokers and to deal only with gold refineries or cash 4 gold companies that own their own personal metal refineries
The fact is, cash4gold businesses are being a go-between, between you and a gold refinery and therefore they will pay you about one third of the true value for your gold or silver jewelry and easily trade it directly to a precious metal dealer themselves therefore obtaining the lions share while you get a couple measly bucks.
In recent days, Fox news put together a kind of undercover sting, in that they submitted 3 exact amounts of gold to 3 different precious metal dealers and waited for the payment and while all of the companies did in fact give them a pay out for the old gold, only one of those gold buyers actually submitted the real value of their gold while the other two companies payed approximately 1/3 of today’s real value.
The 2 gold buyers that that payed out 1/3 of the market value were acting as a middle man while the 3rd company that payed the most value did in fact own their own gold refinery, so it is seller beware in this business and I highly recommend that you do your research before selling your used family jewelry so that you won’t fall for the cash for gold scam