Pratt News Blog

 When you consider the actual state of the American economy and the continuous increasing surge in gold prices , it is necessary that people are bringing out their damaged gold jewelry and are selling them to cash for gold  industries in an effort to acquire some additional money to reduce their extra debits in order to get out of debt.  Assuming you are experiencing the same situation you will need to cautiously do your homework before distributing your gold jewelry to just any gold dealers in that there is a huge increase in the amount of fraudulent companies in the jewelry buying industry who won’t hesitate to take advantage of your financial desperation and pay you next to nothing for your gold, silver or platinum jewelry.  The fact that this behavior may not be illegal, it is in any case, wrong and I feel it necessary to warn those of you who might be considering trading your defective jewelry to be certain to stay away from gold buyers that are acting as middle men and to conduct business only with gold refineries or cash 4 gold companies that institute their own personal gold refineries The fact is, gold brokers are simply acting as brokers between you and a metal refiner and as a result they will pay you about 30 percent of the value for your gold and turn around and unload it back to a gold refiner themselves and they will be obtaining the larger share and  you get a couple lousy dollars.  A short while ago, Fox news conducted a kind of undercover sting, where they sent in 3 identical pieces of gold jewelry to 3 individual precious metal buyers and waited for their payout and while all three businesses did in fact give them a payment for the old gold, only 1 of those cash for gold businesses actually submitted the true value while the other 2 gold buyers payed approximately  one third of today’s current value.  The  that that payed out 1/3 of the market value were acting as a middle man while the 3rd cash for gold company that payed the true value did have their own precious metal refinery, so it is customer beware in this business and I highly suggest that you do your research before unloading your used precious jewelry