Considering the latest state of the US economy and the continuous increasing spike in gold and silver prices , it is apparent why people are getting out their used gold, silver and platinum jewelry and are selling them to cash 4 gold refineries as a way to come up with some more income to pay off their extra financial woes in order to make ends meet.

Assuming you are in the same situation you will be wise to methodically do your homework before unloading your gold,silver or platinum to just any gold brokers for the reasons that there is a large number of unethical gold buyers in the precious metal buying business who won’t hesitate to prey on your financial situation and pay a small percentage for your gold, silver or platinum jewelry.

I realize that this behavior may not be illegal, it is however, very wrong and I feel it necessary to warn those of you who may be considering getting rid of your old gold jewelry to be certain to stay away from gold buyers that are acting as middle men and to conduct business only with refineries or cash for gold companies that institute their own refineries

You must realize, cash4gold businesses are simply acting as middle men between you and a precious metal refinery and because of that they will pay you approximately 30 percent of the value for your fine jewelry and turn around and sell it directly to a precious metal dealer themselves thereby keeping the lions share and in turn you keep a couple measly dollars.

Not so long ago, Fox news conducted a sort of undercover operation, where they delivered 3 identical amounts of gold jewelry to 3 different cash for gold dealers and waited for the payment and while all three businesses did in fact forward a payment for the broken jewelry, only 1 of those cash for gold companies actually gave the real value of their gold while the other two companies payed out 30 percent of today’s true value .

The 2 gold buying companies that that payed out 1/3 of the market value were acting as a middle man while the third cash for gold company that payed the current market value did in fact own their own in-house refinery, so it is seller beware in this industry and I highly suggest that you do your part before selling your broken precious jewelry so that you can’t fall for the cash for gold scam