Gold Buying Scams

 

Since the price of gold and other precious metals went sky-high, gold buyers have popped up all over the place seeking to a profit.  Often these new companies profit by using unethical tactics to take advantage of the unsuspecting and desperate public. 


Many customers are looking to sell jewelry because they desperately need cash. This puts them in a delicate position as gold buyers will often abuse the customer’s situation and pay them a value way below the true value of their gold, silver or diamonds.  To avoid falling into this pit when you wish to sell your jewelry, you should be aware of the following:

·         Steer clear of gold buyers who try to pressure you into selling your gold jewelry or scrap gold.

·         Check on the gold buying company’s ranking with the BBB (Better Business Bureau).  If the ranking is below a B, you should be very skeptical about dealing with them.  Check to see if there have been any complaints that may have been filed against the gold buyer.  This information is available on the BBB website.  Check on the gold buyer’s online reviews as left by customers.

·         Gold buyers who offer you a price and when you decline suddenly increase the price should be avoided.  Ethical gold buyers will offer you the best price available and not try and rip you off first.

·         Do not deal with gold buyers who do not pay you the agreed amount immediately upon examination or receipt of your gold jewelry or items.

·         Be wary of gold buyers who do not inspect and weigh your gold jewelry in front of you.

·         Gold buyers who have their own offices are a much better option than those who simply work online.  Check if the gold buyer has a track record in the industry.  This will ensure that you can obtain verifiable reviews and information on the buyer.

·         Avoid online gold buyers who work only via online auction sites such as eBay, particularly those with little or no customer feedback or those located outside your country of residence.

·         If you choose a mail-in option of selling your gold items, check that your postage-paid envelope will be sent via insured post, with a tracking number.  Check that your gold is insured for the full value.

Make sure that you do in-depth research on the gold buying companies that you intend on using.  There are ethical gold buyers on the market, so make sure you find the right one for you.  One of these ethical and professional companies that come highly recommended is Gold Solutions in Cape Coral, Fl.

 

By, Kevin Robbins

Gold Solutions, LLC