Will you get a fair price if you sell your old, broken jewelry to a dollars for gold business
Considering the current condition of the American economy and the continuous increasing movement upwards in gold and silver prices , it is apparent why people are getting out their broken gold, silver and platinum jewelry and are getting rid of them to cash 4 gold dealers as a way to make some spare dollars to lower their extra debts as a way to make future bill payments.
If you are experiencing the same situation you will be wise to methodically do your investigative work before trading your unwanted jewelry to just any gold buyers for the reasons that there is a huge increase in the amount of unscrupulous cash for gold companies in the jewelry buying business who will happily prey on your desperate situation and pay very little for your precious metal.
Although this way of doing business may not be illegal, it is however, not in your best interest and I feel it necessary to warn those of you who might be thinking of trading your unwanted jewelry to be certain to refrain from dealing with gold buyers that are posing as middle men and to deal only with refineries or gold buyers that have their own refineries
The truth is, gold buyer are being brokers between you and a gold refinery and therefore they will pay you approximately 30% of the actual value for your gold and quickly trade it directly to a gold refiner themselves therefore obtaining the lions share and you keep a few lousy dollars.
A short while ago, Fox news put together a kind of undercover sting, where they brought in 3 identical items of jewelry to 3 different cash for gold companies and waited for their payout and while all of the businesses did in fact send a check for the used gold, only 1 of those gold buyers actually gave the current market value while the other cash for gold companies payed approximately 30% of today’s current value.
The other 2 companies that fell short were acting as brokers while the 3rd cash 4 gold business that payed the current market value did have their own in-house refinery, so it is seller beware in this industry and I strongly recommend that you do your homework before trading in your old gold or silver jewelry so that you shouldn’t become a victim of the cash 4 gold scam