With the uncertainty in the world thanks to COVID-19, gold scams seem to be on the rise. The Gilbert Sun News published an informative article featuring David Nelson of Nelson Estate Jewelers near Gilbert, AZ and his insight on what to look for to make sure that you don’t get taken advantage of in these trying times.
There are a few ways that Nelson Estate Jewelers has witnessed individuals getting taken advantage of. One way is when someone takes a genuine piece of gold to a pawn shop and only get offered a small fraction of its worth. In one scenario a gentleman had received a quote from a pawn shop beforehand, and the pawn shop offered $150 for a genuine gold coin that Nelson Estate Jewelers paid them $1,425 for.
Another popular scam is people trying to sell legitimate looking gold chains, coins, or jewelry that are actually fake, but they claim that they’re the real deal.
One client was approached at a gas station by a man who gave a story of falling on hard times. He had a heavy gold ring in his possession that he was willing to trade for cash. When the client brought in this ring to sell, it turned out to be fake.
It’s typical for fake gold pieces to actually just be heavy pieces of brass, or even gold-plated brass. They will even look legitimate with an 18K or 18KT stamp, and they will even have hefty weight to them, just like real gold.
Unfortunately, it seems that the elderly are the easiest targets of these gold scams.
Nelson Estate Jewelers pays market price for all gold, scrap gold, silver, coins, jewelry, and collectibles. They also provide free evaluations so you can know the value of what you have and make an educated decision based on that.
Currently, Nelson Estate Jewelers observes social distancing guidelines. They limit the number of people in their store at once and sanitize everything after each client visit.
Since gold is at a 7.5 year high, it’s understandable that people would jump at an opportunity to buy gold at a rate that is below market.
However, many disappointed people have brought in things like gold chains that were purchased from a guy that was selling jewelry in a parking lot who even showed a receipt for the item, making the item seem authentic.
Other cheated clients have purchased jewelry from Craigslist because the pictures online showed an 18K stamp, so they assumed it was genuine gold.
Read the full article by the Gilbert Sun News: https://www.gilbertsunnews.com/community/don-t-be-a-fool-with-gold-jeweler-advises/article_bcc527f0-80e9-11ea-9fbb-778fa3ada764.html?fbclid=IwAR0219vvNn5w7kBf0RIFKHS7qfQ38VhdexQFQzRBR7LgF8IHrv25O4SVgCE
Nelson Estate Jewelers, near Gilbert, AZ, was voted Best of the East Valley by the East Valley Tribune! They have a strong reputation of being a fair gold buyer as well as an expert jeweler who offers custom designs and full jewelry repair services. Contact them for a free verbal appraisal on your jewelry, gold, silver, and collectibles! (480)459-9867