Tuesday, December 08, 2009

An answer to my question about gold

A few weeks ago I posted one of my rambling questions that cross my mind. This one was about the advertising campaigns for those companies wanting to buy your unwanted gold. They all naturally tell you they will pay you the best price for your gold and that now is a great time to cash in on your own personal treasure trove hidden away in the jewelry box.

Well, surprise surprise, the best price is well below the real value.

The BBC has done a small survey and discovered what I guess most of us were probably thinking. They took £300 worth of gold, as valued by an independent jeweller, and sent it off to a few companies. The best offer was around £60 which rose to over £100 when the first offer was turned down. Hardly the best price.

So as ever, beware the smiling faces on the ads that promise much but in the end deliver much less. I know these companies will have overheads and processing costs, but just remember they are in it to make money. Quite how much they make from your old gold is up to you.

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