Don't be fooled by gold jewelry buying scams

Jewelery scale weighing goldDon't let the promise of quick cash for your gold jewelry lure you into a bad deal from a buyer using an inaccurate scale.

New Jersey's Office of Weights and Measures has cited 49 businesses for violations, including using unregistered or uninspected scales, not giving consumers detailed receipts and, in some cases, using scales that had been tampered with to register lighter weights.

Spurred by a consumer complaint, the state held surprise inspections in June at jewelry stores and transient business -- they're the ones which set up temporary shops in hotels -- and confiscated a number of scales, including one that had a spring mounted under its weighing platform that pushed the platform back up when an item was weighed -- giving a lighter reading.

"Consumers who need to sell their heirlooms and keepsakes to raise cash deserve to get every dollar that their gold, jewelry and precious metals are worth. But buyers who use unapproved, uninspected or purposely tampered-with scales are cheating consumers out of money," said Thomas R. Calcagni, acting director of the state's Consumer Affairs division. More than 1,600 citations were issued as part of the statewide sting, each carrying a fine of $100 to $500 if convicted.

Before handing over your jewelry, check with the local Better Business Bureau or your state attorney general's office to see if the shop has any complaints lodged against it. If you want to sell your gold or jewelry for cash, check out WalletPop's advice for getting the most bang for your bling.
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