Comments on: Thinking of Selling Your Gold Jewelry? Watch Out for Gold Buying Tricks and Scams http://news.coinupdate.com/thinking-of-selling-your-gold-jewelry-watch-out-for-gold-buying-tricks-and-scams-0325/ Coin Collecting News Wed, 08 Feb 2012 20:49:13 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Joshua MIchaels http://news.coinupdate.com/thinking-of-selling-your-gold-jewelry-watch-out-for-gold-buying-tricks-and-scams-0325/comment-page-1/#comment-1683 Joshua MIchaels Thu, 01 Jul 2010 13:42:17 +0000 http://news.coinupdate.com/?p=3146#comment-1683 Very good info for the public. Although I would disagree on the gram to pennyweight position. One troy ounce is broken down to equal 20 dwt (pennyweights) a even round number that the jewelry industry manufacturers, suppliers and refiners deal with. A troy ounce in grams equals 31.10348, not a round number. And is really only used by retailers when buying gold. It has always been my understanding that this was because it makes the weight sound larger. 1 gram=.643 dwt. If the company is honest it shouldnt really matter. Kinda like whats heavier 1 ton of feathers or 1 ton of bricks. I work for a refiner that has just recently started dealing directly with the public. Metallixdirectgold.com. Check us out. Very good info for the public. Although I would disagree on the gram to pennyweight position. One troy ounce is broken down to equal 20 dwt (pennyweights) a even round number that the jewelry industry manufacturers, suppliers and refiners deal with. A troy ounce in grams equals 31.10348, not a round number. And is really only used by retailers when buying gold. It has always been my understanding that this was because it makes the weight sound larger. 1 gram=.643 dwt. If the company is honest it shouldnt really matter. Kinda like whats heavier 1 ton of feathers or 1 ton of bricks. I work for a refiner that has just recently started dealing directly with the public. Metallixdirectgold.com. Check us out.

]]> By: Michael J. http://news.coinupdate.com/thinking-of-selling-your-gold-jewelry-watch-out-for-gold-buying-tricks-and-scams-0325/comment-page-1/#comment-1602 Michael J. Mon, 21 Jun 2010 05:27:59 +0000 http://news.coinupdate.com/?p=3146#comment-1602 Really good and in-depth info here. Thanks. But this should be in local newspapers... you're kinda preaching to the choir here. Really good and in-depth info here. Thanks.
But this should be in local newspapers… you’re kinda preaching to the choir here.

]]> By: Alan Liddy http://news.coinupdate.com/thinking-of-selling-your-gold-jewelry-watch-out-for-gold-buying-tricks-and-scams-0325/comment-page-1/#comment-1598 Alan Liddy Sun, 20 Jun 2010 00:56:00 +0000 http://news.coinupdate.com/?p=3146#comment-1598 Thank you so much for the in depth information. Here is one piece of advice that is very important if you decide to use a gold mailing service. ALWAYS take pictures of each piece of your gold jewelry individually before you send it to the gold buyer in the mail. Many of the mailing service gold buyers are reputable, but you should always have a back up plan if you suspect something is wrong. Thank you so much for the in depth information. Here is one piece of advice that is very important if you decide to use a gold mailing service. ALWAYS take pictures of each piece of your gold jewelry individually before you send it to the gold buyer in the mail. Many of the mailing service gold buyers are reputable, but you should always have a back up plan if you suspect something is wrong.

]]> By: Patrick A. Heller http://news.coinupdate.com/thinking-of-selling-your-gold-jewelry-watch-out-for-gold-buying-tricks-and-scams-0325/comment-page-1/#comment-1576 Patrick A. Heller Thu, 17 Jun 2010 11:42:19 +0000 http://news.coinupdate.com/?p=3146#comment-1576 The best information I have is that one of the owners of the company purchasing jewelry in association with Sears and Kmart is a company based in Taiwan. It is Chinese, but not from the People's Republic of China. The best information I have is that one of the owners of the company purchasing jewelry in association with Sears and Kmart is a company based in Taiwan. It is Chinese, but not from the People’s Republic of China.

]]> By: gold reader http://news.coinupdate.com/thinking-of-selling-your-gold-jewelry-watch-out-for-gold-buying-tricks-and-scams-0325/comment-page-1/#comment-1573 gold reader Thu, 17 Jun 2010 03:45:30 +0000 http://news.coinupdate.com/?p=3146#comment-1573 Thanks for the informative article. I read that the buyer behind the program at sears/kmart is actually the chinese government which is trying to build up its gold reserves. Can anybody confirm? Thanks for the informative article. I read that the buyer behind the program at sears/kmart is actually the chinese government which is trying to build up its gold reserves. Can anybody confirm?

]]> By: Phil Williams http://news.coinupdate.com/thinking-of-selling-your-gold-jewelry-watch-out-for-gold-buying-tricks-and-scams-0325/comment-page-1/#comment-1570 Phil Williams Wed, 16 Jun 2010 16:31:41 +0000 http://news.coinupdate.com/?p=3146#comment-1570 Great article - very comprehensive. The margins in the UK seem to be a lot tighter than you have. This has lead to some dealers trying to hide their fees in the small print of their Terms & Conditions. Typical 'tricks' here include: - testing fees - refining fees - fees to return items to customers - even fees to send a payment to a customer! Great article – very comprehensive.

The margins in the UK seem to be a lot tighter than you have. This has lead to some dealers trying to hide their fees in the small print of their Terms & Conditions.

Typical ‘tricks’ here include:

- testing fees
- refining fees
- fees to return items to customers
- even fees to send a payment to a customer!

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