June 16th, 2009

Cash for Gold

Seller Beware

First, let me just say that not every gold dealer or Internet gold buyer is dishonest.

With that out of the way, I’ve been seeing more and more television ads from businesses that want to buy your unwanted gold, silver or platinum jewelry.

Then I saw that one of these businesses was offering to pay “20% more cash” until July 4, 2009. That made me wonder what will happen after July 4. Is this particular company going to shut its doors completely or file for bankruptcy protection?

A quick search turned up several negative articles about some of these companies, some of them bordering on libelous. But it also turned up something that, even though it’s a press release, offers some good advice. Here’s the link: http://tinyurl.com/ldq3sf.

So remember that most Internet gold buyers, gold dealers, or coin dealers are honest. But caveat venditor if you’re thinking about selling your scrap, especially in today’s economy.

Gold and silver