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and complaints are too.
The price of gold is rising, and ads are enticing you to sell.
But be sure that you know what you have and with whom you're dealing. Companies offering to buy your jewelry are springing up all over Gucci Belt Blue And White
So it could pay to round up your lonely single earrings as well as any gold bracelets or cuff links that have Wallet Gucci Men
One company that aired an ad featuring Ed McMahon and MC Hammer during the Super Bowl has attracted the attention of the Better Business Bureau serving southeast Florida and the Caribbean. So far, that BBB has logged 302 complaints nationwide against that company Pompano Beach, Fla. based "Cash4Gold," largely since last October.
Chief concerns: Consumers mailing jewelry said they got checks for less than they thought the jewelry was worth; although the company offered to return jewelry to those who sent back their check within 10 days of the check date, checks sometimes didn't arrive for 12 to 14 days; and the company said it never received some jewelry.
He acknowledges he's not the highest payer for jewelry. Of 700,000 transactions, 93.6 percent cash the check immediately, he says. "The other 6.4 percent have buyer's remorse." A new wave of gold buying companies with similar names, he suggests, may be partly to blame for complaints against his company.
So what should you consider if you're selling your gold?
Gold from other countries may be less pure than stamped, the ASA says. And 14 karat jewelry produced in the 1970s and earlier, may have a purity of only Gucci Belt Replica Ebay
How to sell gold jewelry
been collecting dust.
Before heading to a gold buyer, assess whether you might get more from an estate jeweler for designer or hand crafted jewelry.
Start by checking the stamp on the back of the jewelry that lists its weight, Omega Seamaster Black Dial advises the American Society of Appraisers, Herndon, Va. Twenty four karats is 99.9 percent pure. But 14 karat gold is only 58 percent pure, while 18 karat gold is 75 percent pure. Meanwhile, expect a reasonable gold dealer to take a cut of 2 percent to 3 percent of the dollar value of the gold as a fee. ounce, and gold is trading at $1,000 per troy ounce. Because your 14 karat gold jewelry is only 58 percent gold, your stash would be worth $580. If you're paying 2 percent in fees, you'd get $568.40 for your 1 ounce of gold.
Jeff Aronson, president of Cash4Gold, responds that his company has sent out checks up to $30,000 for gold and that the number of complaints was "infinitesimal" compared with his company's 740,000 transactions. He added that he already has extended the company's refund policy to 12 days. Plus, even if jewelry is lost in the mail, he says, it is insured.
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