The East Valley Tribune caught up with David Nelson, owner of Nelson Estate Jewelers to learn more about the gold scams that seem to be on the rise. COVID-19 has led to much uncertainty in world, so naturally scammers are taking the opportunity to target innocent people. Gold is also at a 7.5 year high, which typically brings out the con artists.
Unfortunately, there have been quite a few situations that David Nelson has come across, all involving someone getting taken advantage of over gold. Most people visit a pawn shop when looking to sell valuable items when they need cash. While this may be ok for most items, when it comes to selling jewelry, gold, silver, or coins, working with a gold buyer who is also a reputable jeweler is ideal because they know the real value of what you have. Recently, a client received a quote from a pawn shop for a genuine gold coin. He was offered $150 for that coin, but luckily, he visited Nelson Estate Jewelers for a second opinion, and they paid $1,425, which was based on the market at that time, for the same exact coin.
Another popular favorite of these scammers is selling items (coins, chains, “gold” jewelry, etc.) that turn out to be 100% fake. An unfortunate individual was approached at a gas station by someone who had a substantial gold ring and was asking for a small amount of cash in exchange so they could fill their gas tank. When the ring was brought into Nelson Estate Jewelers for evaluation it turned out that it was not genuine gold at all.
The most common items that have been identified as “fake gold” usually end up being very heavy brass, or some sort of gold-plated metal that still has some heft to it. To add to the illusion, there will typically even be an 18K or 18KT stamp, which normally indicated genuine gold, but not in this case.
Before buying any gold from a 3rd party, evaluations are incredibly important beforehand. Nelson Estate Jewelers has a strong reputation for paying market price for unwanted gold, scrap gold, sterling silver, coins, jewelry, and other collectibles. They even offer free evaluations!
With all the uncertainty surrounding COVID-19, Nelson Estate Jewelers has made sure to observe strict social distancing guidelines. Since their security system allows for controlled access, they can limit the number of people in their store at a time. They also completely sanitize everything after each client visit.
While it’s completely understandable for someone to jump on an opportunity to buy gold at an attractive, below-market price, usually if something seems too good to be true then it probably is.
David Nelson has heard many different stories from those that bought gold jewelry from someone selling out of the trunk of their car in a parking lot. In most cases, the seller even proved authenticity and put the buyer at ease by showing a receipt. However, the receipt may have been for a similar item because it was not the one that was actually sold to the buyer.
It can be a risky move to purchase any kind of jewelry from anyone that isn’t a reputable dealer. Even with online selling platforms such as Craigslist or Offer Up, sellers can post pictures online showing an 18K stamp. However, it could simply be one of the brass or gold-plated pieces that was mentioned before. Without having the piece tested and inspected by a reputable jewelry store or gold buyer, there’s no telling that you’re actually getting what you pay for.
Read the full article by the East Valley Tribune: https://www.eastvalleytribune.com/money/don-t-be-a-fool-over-gold-mesa-jeweler-advises/article_f95b99ac-80ed-11ea-8330-fb53b83a7eab.html
Nelson Estate Jewelers is an award-winning jewelry store and gold buyer that upholds a strong reputation of being a fair buyer in the East Valley. They were voted “Best of Mesa” and “Best of the Best in the East Valley” by the East Valley Tribune. Nelson Estate Jewelers will buy your old unwanted 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