BEWARE OF PAYING BIG BUCKS FOR GOLD JEWELRY!

I just had a gentleman come in with a 14k gold chain and crucifix. "I bought it a couple of months ago and paid $1,500 for it plus insurance." Amazing. How can somebody be led down the primrose path of ignorance and innocence?


At the very best the scrap value might be in the $200 - $400 range? These major jewelry houses seem to be scoring big results at the expense of the unknown.


When you are dealing with gold you are dealing with "fire and ice."


Pure gold is 24 karat and is appreciated by folks in India. 18k is a high rating where 10k is low. All gold, by law should be marked 10k, 14k and 18k. U.S. Gold coins are 21.6k.


A smart more for potential buyers is shop at pawn shops and antique dealers. I have been there for decades and still I can get burned. As Shakespeare wrote "Not all that glitters is gold." BE C

AREFUL!