Lagging Economy Creates Uptick In Scrap Gold Selling

Albany, NY (PressExposure) May 15, 2009 -- While it is true that the value of the gold contained in an item of jewelry does factor in to a jewelry buyers decision when buying the piece. None the less, very few jewelry buyers ever do consider that one day they will actually redeem that value and have to sell gold jewelry .

Hence; when that day comes, which it in fact is to more cash strapped jewelry owners today due to a lagging economy, these same jewelry owners who have now become sellers find all to often that they are woefully uninformed as to the actual value of the gold contained in the piece.

So the new gold rush is on and instead of a pick and shovel, far too many of todays online gold miners are equipping themselves with misinformation and fast sales pitches. The result is that far too many scrap gold and jewelry sellers are falling victim to these modern day online “claim jumpers”.

The problem is that online scrap gold and jewelry buyers require that the item to be sold be packaged up and sent to them before an estimate can be submitted. It's a scenario that leaves most sellers willing to accept just about any offer to simply get the deal done and the much needed cash in their hand.

Enter Micheal James: of , which in spite of what the name suggests is actually a website that reviews and posts reviews on the most reputable cash for gold web based buyers. Scrap precious metal buyers that have already had their business practices and ethics tested, so people who have to sell gold jewelry don't have to test them themselves at a time when all they want is a fair price.

In a recent phone interview Mr. James was able to explain some facts on this new online scrap cash for gold phenomenon and what led him to create his site. “ It all started when a relative who is in college had to sell gold jewelry that she owned to pay her rent”.

“She contacted several online cash for gold sites and none of them could give her a straight answer as what she was going to be paid for her scrap gold ”. “ So after doing some research, she decided that it was just too risky to even try to sell gold jewelry online this way and she instead contacted me for a loan”.

“When she told me her story it made me angry that people could take advantage of people this way”. “People who were already going through the trauma of having to sell gold jewelry that they thought they would own the rest of their lives”. “So I began work on the site immediately and the publics response proves that it has answered a desperate need”.

Fact: All gold jewelry, unless it is 24K, is actually a mixture of gold and another harder metal, due to the fact that pure gold is soft and prone to denting, scratching and damage. The lower the number, the least amount of gold in the mix with 10K containing the least, 18K containing the most and 24K being pure gold

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Press Release Submitted On: May 14, 2009 at 3:50 pm
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