Insta Knox Blog Site

Considering the latest condition of the world economy and the continuous increasing rise in gold,silver and platinum prices , it is obvious why people are bringing out their old gold jewelry and are trading them to cash 4 gold industries in an effort to acquire some additional income to pay down some debits to to make future bill payments.Assuming you are experiencing the same situation you will need to methodically do your investigative work before selling your gold or silver to just any gold buyers in that there is a large number of unscrupulous cash for gold companies in the precious metal buying industry who will happily take advantage of your financial situation and give very little for your precious jewelry.Although this practice may not be fraudulent by definition, it is however, immoral and unethical and I am here to warn those of you who may be considering parting with your unwanted gold or silver to be sure to refrain from dealing with companies that are acting as gold brokers and to do business only with refineries or cash 4 gold companies that institute their own refineriesThe fact is, cash4gold businesses are nothing more than brokers between you and a precious metal refinery and as a result they will give you about 30% of the actual value for your gold or silver jewelry and turn around and trade it back to a gold refiner themselves and they will be obtaining the larger share and in turn you keep a couple lousy bucks.In recent days, Fox news put together a kind of undercover sting, in that they delivered three identical pieces of gold to three individual precious metal businesses and waited for the payment and while all three gold buyers did in fact forward a payment for their old jewelry, only 1 of those cash 4 gold companies actually gave the real value of their gold while the other two companies payed out 30% of today’s current market value.The two gold buyers that payed out such a small amount were acting as a go-between while the 3rd cash 4 gold business that payed the current market value did have their own precious metal refinery, so it is consumer beware in this industry and I absolutely recommend that you do your part before selling your unwanted gold or silver jewelry so that you can not become a victim of the cash 4 gold scam

This entry was posted on Wednesday, December 16th, 2009 at 9:12 am and is filed under News. Both comments and pings are currently closed.