Did you know that the amount of gold which is offered under gold for cash schemes via emails to buyers and sellers is more than the amount that the US federal owns? It is said that around 10,000 metric tonnes of gold is offered under cash for gold programs! This encourages several crooks to loot the naïve gold traders. Many innocent buyers and sellers are duped by the brokers who explain a mythical term Swiss procedure in order to get them under their wing.
This article will offer information to help you to avoid scams while trading in gold.
Scams to Avoid While Choosing Gold for Cash Program
As gold continues to shine and attract investors, the cases of fraud and scams continue to rise. Read the following information to know more about the popular gold for cash scams:
* Online scams
If you are new to selling and buying gold, you should be aware of the online scammers. These swindlers use popular online gold selling platforms, such as eBay. They targets beginners and offer them attractive gold for cash schemes. Once you get trapped by these fraudsters, it will be impossible for you to recover your gold. It is advisable that you trust only cash for gold schemes offered by established companies.
* Mail in gold threats
There are many companies which attract people by offering cash for gold offers with higher returns. When it comes to making actual deals they offer only 20% of the actual value of gold. If you are not satisfied with gold for cash schemes, you can also prefer local gold buyers. Always look at least two to three cash for gold offers to avoid scams and loses.
* Fake gold stockers
Fake gold stockers use the name and fame of established companies and send people newsletters and e-mails making false claims. To make their claims stronger, scammers also uses marketing companies and touts. The best way to avoid such scams is not to respond to any unauthorised mails. You can also file complaints against such swindlers.
* Offshore gold companies
There are many companies which entices individual sellers to make gold for cash deals with overseas company. It is best to avoid such companies. In case you want to trade gold with an offshore company check its listing in US securities.
There are many fraudsters out there in the market who are devising innovative strategies to lure you with attractive but fake deals. Therefore, you must always opt for gold trading with an established company.
Always prefer an authentic company’s gold for cash schemes. You can prefer US gold buyers for turning scrap gold into cash. Within 24-hours payment in cash for gold you buy or sell with free shipping. For more information dial (877) 977-GOLD, or go to www.usgoldbuyers.com.
