Our mystery shoppers sent identical 18-karat chains and pendants (retail price $175; meltdown value about $70) to three gold buyers between mid-May and early July. They also took the gold to jewelry stores and pawn shops in Louisiana, New York, and Texas. The cash-for-gold companies paid 11 to 29 percent of the day’s market price for gold; the other venues, about 35 to 70 percent. All the checks arrived a few days after the companies received the jewelry.
The moral of this report is – deal only with reputable buyers with good reviews and a high BBB rating. Read the full report here.