Will you be scammed if you sell your gold or silver to a moneyforgold business

When you consider the actual state of the US economy and the continuous increasing surge in gold and silver prices , it is obvious why people are rooting out their broken gold jewelry and are pawning them to cash 4 gold dealers because they need to make some extra cash to pay off some extra debts to to make their next mortgage payment.

Maybe you are experiencing the same situation you will need to carefully do your research before distributing your gold,silver or platinum to just any gold brokers because there are an ever increasing number of fraudulent cash for gold companies in the jewelry buying industry who will happily take advantage of your financial desperation and give you next to nothing for your gold.

Even though this way of doing business is not fraudulent by definition, it is in any case, not in your best interest and I am here to inform those of you who may be considering exchanging your outdated gold jewelry to be certain to stay away from businesses that are posing as gold brokers and to deal only with refineries or cash for gold companies that own their own personal metal refineries

The truth is, cash for gold companies are nothing more than brokers between you and a metal refiner and because of that they will give you in the area of 30 percent of the true value for your gold, silver or platinum and easily resell it directly to a gold refiner themselves therefore pocketing the larger share while you keep a couple lousy bucks.

A short while ago, Fox news conducted a sort of undercover sting, where they submitted three of the same amounts of jewelry to three individual precious metal dealers and waited for the payment and while 3 of the businesses did in fact send a check for the old gold, only one of those cash for gold businesses actually gave the real value of their gold while the other 2 gold buyers payed about 30 percent of today’s real value.

The 2 businesses that fell short were acting as a middle man while the 3rd company that payed the current market value did have their own metal refinery, so it is seller beware in this industry and I highly suggest that you do your part before selling your broken gold or silver jewelry so that you should not get taken by the cash for gold scam