As with any industry there are some great companies and there are companies who are, well, not so great… and usually for good reason.
Here are some of the tactics used by unscrupulous operators you should watch out for:
Current price of gold NOT posted on their website.
The current price of gold should be posted online. If nothing is posted then it is usually because their payout is embarrassingly low.
Prices posted apply only to a minimum number of ounces (oz.)
This is a misleading tactic you should definitely watch out for. For example, if prices posted are only for over 5 oz. or 10 oz., BEWARE. Most customers come in with less than than 2 oz. If a company does not post prices for quantities that include 0-2 oz., prepare to get less than you expect.
Bonus payouts expressed in percentages (%)
Some companies will pay you as little as 30% or less of the melt value of your gold. If that isn’t bad enough, they may then promise you a bonus of an extra 10 or 20%. But here’s the trick they use. It’s an extra 10 or 20% of the pitifully low amount they usually pay. That is, if they pay you 30% and promise you a bonus of an extra 10%, your payout will not be 40% like most people would assume, but 33%. It is 10% of the original 30%, not 30% plus 10%. Clever but very misleading.
Huge advertising budgets
If a company advertises every time you turn on the TV, guess who is paying for those ads? You are. You pay for them in the form of super low payouts for your gold items.
A company’s practices should be straightforward and transparent. There should be no surprises. At AAA Gold Exchange we don’t play games with your payout. We offer you one of the highest payouts anywhere!