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Consumer Reports magazine

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.

 

 

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