Cash for Gold Comercials

Thread Starter

HarveyH42

Joined Jul 22, 2007
426
Here's the link to the Gold paint blog entry. http://www.cockeyed.com/citizen/goldkit/gold_kit.shtml It was $1.01, still fairly amusing...

I do think something is up with the gold buying, other than the scam and profit. Notice a sign in an 'antique'/junk shop downtown while walking my dog. Have seen signs on utility poles recently as well.

Did some more reading, seems pretty consistent, that if you refuse the first offer quoted, you will get double or even triple the amount on the first check (guess it depends on if they already melted your stuff).
 

jpanhalt

Joined Jan 18, 2008
8,074
Notice a sign in an 'antique'/junk shop downtown while walking my dog. Have seen signs on utility poles recently as well.
Well, I guess utility poles have all sorts of uses for dogs and people.

I would not put any confidence on such a notice posted on a pole. That pretty obviously is a scam.

There is panic, or at least some people are trying to stir it up. Unfortunately and as is often the case, older people are being preyed upon. Today, I came across a presumably legitimate bullion dealer who had a buy-sell spread of 29%! And, that did not include shipping expenses. The spread on jewelry based on gold content is many times that -- at least an order of magnitude. So, hold onto your jewelry. It is not worth selling and is more valuable in a rational market not melted down. Even when bullion gold was confiscated by the US government, jewelry was not.

John
 
Top