With the price of gold at an all time high, many are selling their valuables to get some quick cash.
But how do you make sure you get your moneys worth?
In just this year alone, the Hawaii Better Business Bureau has already received more than 500 complaints against gold, silver and platinum dealers.
"We do get a lot of complaints about people that have lost their gold, have been ripped off because they didn’t get a fair amount for the amount of jewelry that they gave someone, a vendor," says Timothy Caminos of the Hawaii Better Business Bureau.
Caminos suggests knowing about your jewelry before selling it.
"Gold prices they vary based on the karat of the gold or weight of the gold obviously now a lot of times what consumers do is they take a bunch of gold and they take it to one dealer and the dealer will give them one low price," he says.
The Hawaii BBB says each piece of jewelry has a different value and should be weighed separately to ensure you get the right price.
"They should remove all things like diamonds or any other valuable stones before they sell their gold off to have it melted," Caminos says.
The Hawaii BBB advises consumers to walk away if they are being rushed by the dealer to sell their gold.
"If they don’t want to weigh anything in front of you if they’re not willing to separate your pieces meaning the carats of jewelry or even separate a stone from the gold," Caminos says.
And, consumers should know if there is a grace period in case you want the jewelry you sold back.
"When you sell your jewelry it’s likely going to be melted down within 7-14 days after you give it so if you change your mind so you want to make sure you inform them as soon as possible," Caminos says.
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Our volunteers are also available to answer your consumer concerns at 591-0222 Monday through Friday between 11 a.m and 1 p.m.
See the original article at: KHON2 Local News
