With the coronavirus causing much uncertainty in the world, scammers are out on the prowl. Gold scams seem to be on an upward trend lately, and the Chandler Arizonan helped spread the word by interviewing David Nelson of Nelson Estate Jewelers near Chandler, AZ to get the scoop on which scams to be on the lookout for.
There have been quite a few unfortunate incidents that have been identified by Nelson Estate Jewelers. It’s not uncommon for someone to wander into a pawn shop when they’re looking to sell their valuables for quick cash. However, when it comes to selling jewelry, gold, and silver it is usually best to work with a jeweler who knows the true value of what you have. For example, recently a client received a quote from a pawn shop for a genuine gold coin that he was offered $150 for. When he visited Nelson Estate Jewelers, they paid $1,425 (based on the gold market) for the same exact coin.
One other scam that seems to be a con artist favorite is selling chains, coins, or what appears to be “gold” jewelry that turns out to be fake, despite their claims of legitimacy.
There was another unfortunate story of someone who was approached at a nearby gas station by a person offering a heavy gold ring in exchange for a small amount of cash because they had “fallen on hard times.” When the client brought this same ring in to Nelson Estate Jewelers it turned out that it was fake.
When you see this type of fake gold it’s usually just a piece of brass with a lot of weight to it, or it’s brass that has been gold plated. Oftentimes you will even find an 18K or 18KT stamp, which gives the illusion that this fake gold is genuine.
Con artists tend to scam the elderly because they view them to be “easy targets,” which is unfortunate.
Nelson Estate Jewelers always pays market price for unwanted gold, scrap gold, sterling silver, coins, jewelry, and other collectibles and they even offer free evaluations. Evaluations are incredibly important beforehand so you can make sure that you’re making the right decision.
In response to COVID-19, Nelson Estate Jewelers has observed strict social distancing guidelines. Since they have controlled access via their security system they limit the number of occupants and fully sanitized everything after each and every client.
While it makes sense for somebody to want to buy gold at a below market rate, especially in times of gold being at a 7.5 year high, keep in mind that if it seems too good to be true then it usually is.
Nelson Estate Jewelers have heard tales of woe that stem from clients that have purchased gold jewelry from a person selling jewelry out of the trunk of their car in a parking lot. Typically, the seller even showed a receipt for the item to prove authenticity and put buyer at ease, but the receipt would actually be for a similar item, not the one being sold to the unsuspecting buyer.
Purchasing jewelry from anyone besides a reputable dealer can be risky. For example, when it comes to Craigslist or Offer Up, the seller may post pictures online that show an 18K stamp, which makes it appear that the piece is genuine. Even upon inspection in person the stamp may still be there. However, as mentioned earlier, this could simply be gold-plated. There’s no way to know for sure what you’re buying without having the piece tested and inspected by a reputable jewelry store or gold buyer.
Read the full article by the Chandler Arizonan: https://chandlernews.com/dont-be-a-fool-with-gold-jeweler-advises/
Nelson Estate Jewelers upholds a strong reputation of being a fair gold buyer near Chandler, AZ. They were voted “Best of Mesa” and “Best of the Best in the East Valley” by the East Valley Tribune. They can buy your old jewelry pieces, gold, scrap gold, silver, coins, and valuables but can also repair your jewelry with full service jewelry repair services. Contact them for a free evaluation and verbal appraisal on your jewelry (480)459-9867