Along with record prices for gold, we in the jewelry industry have had to contend of late with bad press about the bad gold buying practices of some in our industry– The Consumerist has run a series of articles blasting Cash4Gold, and Consumer Reports just published the results of tests they ran this last summer where they found some gold buyers including Cash4Gold, GoldKit, and GoldPaq were paying as little as 11% of the actual value of the gold content. Not fair!
We feel it’s important to educate our clients about things relating to jewelry, so our latest Mardon blog posts a series of important facts about how gold is alloyed and refined and more importantly, how the gold buying business works. Armed with these facts, we hope folks who recycle their gold will have a better idea of the value of their gold and will be able to select a buyer who will treat them fairly.
We’ve also provided a Gold Value Calculator so if they know the karat and gram weight of their gold, they can enter the daily market price and get a realistic estimate of value.
Let’s all fight back against the flim-flammers who give our wonderful industry a bad name.
james l. sweaney cga fga. gg
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