THE TRUTH ABOUT GOLD
Learn before you sell.
What are my gold jewelry and
diamonds really worth?
By now almost everyone has seen a television ad, heard a radio spot or seen a print ad in the newspaper advertising one of the national "cash for gold" companies that either encourages you to send your gold in via an insured packet or to stop by a several day "buying event" at a local hotel or expo center. So what is the real story behind these companies, are they scams or are they legitimate vehicles for the sale of your gold?
Is "Cash for Gold" a scam?
No. Gold is worth money and there are any variety of companies locally, regionally and nationally who will purchase your gold for cash.
I heard the national "Cash for Gold" companies offer much less then local pawn shops, refineries and jewelers. Is this true?
Yes. Generally speaking, national companies which rely on massive advertising campaigns to solicit your business are going to pay you less for your gold. The reason is simple. They are in business to make a profit and they have to cover their substantial advertising overhead. In order to make a profit, they HAVE TO PAY YOU LESS. It's not a scam, it's just a business model that results in lower payments to you the consumer and one that ASE Metal Recovery does not utilize.
I heard that the "Cash for Gold" companies will often make a low-ball payment and then up their payment when you request that they send my gold back. Is this true?
Yes. There have been countless verified stories of national companies increasing their offer after they'd been asked to return a consumers gold. While this is not a scam per se, it is not in our opinion ethical.
Do "Cash for Gold" companies lie about the karat fineness of gold in an effort to pay me less for my jewelry?
Yes. There have been numerous reports of companies claiming that gold was a lower karat fineness in an effort to lessen the payout amount to the consumer. It should be noted however, that this practice has also been reported as occurring at gold buying parties and local jewelry stores. Unfortunately, as with any business there are numerous companies which have unethical business practices and we highly recommend consumers do their homework and choose a local company that is known to be ethical, will explain the testing process and in fact test the consumer's gold in their presence.
What about the "Hotel Buyers?"
Hotel buyers are going to, on average, pay less then a local buyer for the same reason as national companies. There is a tremendous amount of advertising overhead required to inform you, the consumer, of a hotel buying event and the buyer has to cover this cost by decreasing their payouts. As with any other business segment, there are some honest hotel buyers and some unscrupulous ones. In fact, ASE buys jewelry from several very reputable hotel buyers.
How do I know what my gold is really worth?
Use the links on the left, under how we pay, to determine what your gold jewelry is really worth. The best consumer is an informed consumer. If you know what your items are worth you're much less likely to let them go for a fraction of their real value.
For more information on what we buy or what we pay, please follow the links in the menu on the left. Click here to schedule an appointment, or call us at 518-368-5011.