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Is Cash for Gold Real or Fool's Gold?

In difficult economic times, companies that offer quick-fix solutions to one's financial hardships are not difficult to come by. So, the seemingly overnight explosion of cash for gold businesses should come as no surprise. Since many Americans are struggling to pay their bills on a weekly or monthly basis, cash for gold scams offer a way to make quick money by selling their old jewelry. This can seem very appealing, for why not find some use for grandma's old earrings or your dusty class ring?

The problem with the cash for gold scam is that not all companies will offer fair compensation for these goods. Journalists and consumer advocates have repeatedly found appraisals from the cash for gold business to be highly variable. While there are some companies that will offer fair values for jewelry, others will try to lure an unsuspecting customer into selling their jewelry for well below what it is worth. In some cases, the values offered by cash for gold companies won't even be close, and can be only a fraction of what a jewelry item is really worth.

They key to utilizing cash for gold services is knowledge. First, it is ideal if a customer is aware of the value of the jewelry. If this isn't possible, then another option is to shop around. There are fair cash for gold companies out there, but the only way to identify them is to get several quotes and go with the highest. Consumers should also keep in mind that quick money may not always be the best option. There are other ways to rid yourself of your old jewelry, and be justly compensated for it, so explore your options. Cash for gold can be convenient, but you may pay for that convenience by getting less for your item.

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