let’s say you are in the same situation you will need to carefully do your homework before trading your gold,silver or platinum to just any gold dealers for the reasons that there is a large number of scam companies in the gold buying industry who will happily take advantage of your financial desperation and reward you next to nothing for your gold and silver.

Although this behavior is not fraudulent by definition, it is however, not in your best interest and I want to tell those of you who might be considering trading your used unwanted jewelry to be sure to avoid gold buyers that are acting as gold brokers and to conduct business only with precious metal refineries or cash for gold businesses that utilize their own precious metal refineries

You must realize, cash for gold buyers are nothing more than a go-between, between you and a precious metal refinery and therefore they will reward you in the area of 30% of the true value for your gold jewelry and instantly resell it directly to a gold refiner themselves thereby obtaining the lions share and in turn you get a few measly bucks.

Not so long ago, Fox news conducted a sort of undercover operation, in that they mailed in three replica pieces of gold to three separate precious metal buyers and waited for their payout and while all of the gold buyers did in fact forward a payment for their broken jewelry, only one of those cash for gold companies actually submitted the current market value while the other cash for gold companies payed out 30% of today’s true value .

The other 2 companies that that payed out 1/3 of the market value were acting as a go-between while the 3rd company that payed the most value did have their own in-house refinery, so it is seller beware in this business and I highly suggest that you do your utmost before unloading your broken family jewelry so that you can not get sucked into the cash 4 gold scam