Gold Scams Soar – 4 Things to Check with Gold Buyers
Posted on: 11th November 2010 By Anita
“It’s 9ct, not 22ct, honestly!”

It’s well known that gold prices have been at record levels for people interested in selling gold. The advent and increase in fly-by-nite jewellery buyers is concerning for us at Gold Smart. These gold buying scams can take many forms and at the end of the day knowledge is your best defense against becoming a victim.

There’s basically two groups of gold scams to be careful of – the first is people trying to sell you gold (often from dubious sources) and the next is people wanting to buy gold from you (such as traveling gold buyers or dodgy companies). We can say from experience that there’s 99.99% chance that anyone wanting to sell gold to you from countries like Ghana will be a complete scam. Simply nobody will send you gold without first receiving payment in full and on the flip-side you’d want to be very careful whom you send money to!

You’ve probably seen a rise in companies offering to buy your old gold jewellery, however there’s a massive difference between the level of honestly, professionalism, quality of service and prices you would receive from other companies. It’s not uncommon we have customers tell us how they took their items other gold buyers that didn’t even know the correct carat of gold – in one case the gold was 22ct (approx 91.6% in purity) only to have the character in question try and tell her it was 9ct (37.5% in purity). Either this is very bad training or simply fraud! Don’t be deceived, a reputable gold buyer will be able to tell very quickly if the gold in genuine or not, and determine the correct purity for you.

If you don’t feel comfortable or safe with the people offering to purchase your gold jewellery, then listen to your gut – it’s often right! The other comment we hear frequently is that “I didn’t feel comfortable, something didn’t seem right about them”, and “They couldn’t, or wouldn’t provide me even basic information such as what they pay for gold!”

At Gold Smart we are unashamed quality buyers of gold! Don’t take our word for it, check out our testimonials – they are literally golden! When considering selling gold, come to Gold Smart first, you’ll be glad you did!

P.S. The 4 things you need to check are prices, their ratings/testimonials, history and affiliations.