Print
Comment
Rate
Use reputable jewelers when selling your gold
With gold prices continuing to be at all-time highs - just over $1,200 per ounce - many Arizona residents are rummaging through old jewelry boxes for a chance to make an extra buck. But you should know sellers need to be wary.
According to news stories this past week, the Arizona Department of Weights and Measures inspected 43 gold and jewelry buying businesses and wound up levying civil penalties against 39 of them.
You can scarcely turn the television on anymore without ads urging you to turn in the gold jewelry you don't wear anymore for cash. The ads paint a rosy picture of well-dressed women pocketing hundreds of dollars for neck chains and bracelets. Of course, the reality is very different.
Most of the violations found by the state involved non-licensed and inaccurate scales and incomplete certification standards. In other words, the scales were likely under-weighing the gold, meaning consumers were receiving a lower amount than they deserved.
Many of these places are just another version of people trying to make a quick buck off the misfortune of others.
Apparently spurred by customer complaints, the Weights and Measures folks conducted unannounced inspections primarily in the Phoenix and Tucson metro areas.
We would think if citizens were looking to sell their gold, they'd head for some reputable stores. Established jewelers would be our first choice. But according to the department's news release, the gold buying businesses included barber shops, a local cell phone store, several check cashing businesses, a tire shop, a tobacco store and other pawn and jewelry businesses.
Among the violations found were at Wireless We Buy Gold in Phoenix, where the store had three unlicensed scales and was fined $1,800. Turn It To Cash in Chandler had four unlicensed scales and was fined $2,100. And Gold Stash for Cash in Gilbert had eight unlicensed scales and was fined $2,700.
We don't know if the Tucson businesses currently advertising heavily are good or bad. But we hope the investigations and resultant publicity translate into some caution on the part of the unsuspecting public. When something is too good to be true, it isn't true. Take the advice of state inspectors who urge people to do their homework and to get two or three quotes before closing a gold or jewelry selling deal.
According to news stories this past week, the Arizona Department of Weights and Measures inspected 43 gold and jewelry buying businesses and wound up levying civil penalties against 39 of them.
You can scarcely turn the television on anymore without ads urging you to turn in the gold jewelry you don't wear anymore for cash. The ads paint a rosy picture of well-dressed women pocketing hundreds of dollars for neck chains and bracelets. Of course, the reality is very different.
Most of the violations found by the state involved non-licensed and inaccurate scales and incomplete certification standards. In other words, the scales were likely under-weighing the gold, meaning consumers were receiving a lower amount than they deserved.
Many of these places are just another version of people trying to make a quick buck off the misfortune of others.
Apparently spurred by customer complaints, the Weights and Measures folks conducted unannounced inspections primarily in the Phoenix and Tucson metro areas.
We would think if citizens were looking to sell their gold, they'd head for some reputable stores. Established jewelers would be our first choice. But according to the department's news release, the gold buying businesses included barber shops, a local cell phone store, several check cashing businesses, a tire shop, a tobacco store and other pawn and jewelry businesses.
Among the violations found were at Wireless We Buy Gold in Phoenix, where the store had three unlicensed scales and was fined $1,800. Turn It To Cash in Chandler had four unlicensed scales and was fined $2,100. And Gold Stash for Cash in Gilbert had eight unlicensed scales and was fined $2,700.
We don't know if the Tucson businesses currently advertising heavily are good or bad. But we hope the investigations and resultant publicity translate into some caution on the part of the unsuspecting public. When something is too good to be true, it isn't true. Take the advice of state inspectors who urge people to do their homework and to get two or three quotes before closing a gold or jewelry selling deal.
 |
||
| WUSD responds to bond concerns |
Article Rating
Reader Comments
The following are comments from the readers. In no way do they represent the view of willcoxrangenews.com.
