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Monday, August 2, 2010

Are The Cash For Gold Businesses Legit?

Question: I've got a bunch of gold and silver I'd like to "unload". But thee seems to be a ton of complaints with the Cash 4 Gold type businesses. Okay King....what's the deal on these guys?
D.A. Bronx NY

Answer Marc Charles:

Hi DA:

Thanks for the question and post.

The verdict so far on the Cash4Gold type sites is not good.

I haven't used them personally. You can sell gold, silver and platinum on eBay, Amazon.com, Yahoo! Marketplace, and dozens of other sites just as easily.

But more important, the Cash4Gold guys are not doing you any favors. They're banking on the fact most people won't do any price comparison or shopping around.

Yes.....from what I can tell...people receive money for "spare" gold. But the price is typically well below the actual market value.

And don't even think about selling precious metal coins, watches or even high end jewelery to these guys. You'll get a lot more for it at legitimate brokers.

You can check out local, respected, pawn shops too.

I hope that helps!

Marc Charles

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