Newsletter

Use Caution in Selling Your Scrap Gold

According to the National Jeweler Network website, on October 6, 2009 a class action law suite was filed against the parent company of Cash4Gold in U.S. District Court for the Central District of California. The law suite claims the company misrepresented its services and defrauded customers who sent in their gold jewelry in exchange for cash, according to the 100-plus-page document.

It was reported that the company in a public statement declared; “Cash4Gold is aware that a complaint has been filed. The company believes that this complaint is without merit and Cash4Gold intends to vigorously defend the case”.

Schuck Jewelers has for some time warned of scams surrounding the selling and buying of gold. We have always stated you are selling your gold jewelry for recycling but the buyer is going to make a profit on your sale. There is nothing wrong with that business plan. However, sometimes the profit can be too good and you loose some hard earned money your old jewelry could have brought back to you.

Schuck Jewelers offer free weighing and scrap quotes for your old jewelry. We will explain why there is usually a great difference from your original purchase price and the current scrap value. We wish for you to understand the process so you feel confident when you sell it.

Although Schuck Jewelers does not purchase gold jewelry for cash, we do have a program to convert your old gold jewelry to Cash for Gold in the form of a Gift Card. You’ll receive what we receive less the shipping costs. To learn more and get the details, go to the “Friends and Family” page found in the Navigation links.