WARNING: Beware of out-of-town hotel Gold Buyers, Gold Jewelry Parties & "send by mail" Cash for Gold Offers!
Posted May 29th, 2012
Have you noticed the proliferation of traveling road show advertisements lately? These are the people who advertise that they are in “your town” for a few days to purchase your valuables, such as rare coins, paper money, diamonds, gold, silver, art, and other antiques. They also claim to be the highest buyers. We noticed an increase in out-of-town estate buyers a couple of years ago and decided to research this alarming trend. After a diligent undercover investigation, we’re exposing the dirty secrets utilized by the fly-by-night operations infiltrating Orange County.
The fundamental problem with most “we buy gold and other valuables” companies is that they simply do not pay fair market value for such goods. This is possible because most people do not know the market well enough to protect themselves. One of our undercover investigators was horrified at the price offered for a rare coin he took to two different hotel buying locations. He was offered less than 20% of the coin’s true market value! So, our founder and president, Silvano DiGenova, decided to level the playing field by extending the buying services from our Laguna Beach headquarters into outlying areas of Orange County.
Rare coins, currency, jewelry, art, and antique appraisers from our Laguna Beach office set up temporary locations at hotels throughout Orange County three days per month, much like the out-of-towners. What’s the main difference? Our buy prices are at the top of the national market level and MANY times higher than most Orange County dealers.
We have had approximately 10 remote buying events in the past year, and we have since noticed a decline in the appearance of many of the travelling buying outfits. Why should Orange County residents be wary of out-of-town buyer’s ads versus ours? For two simple reasons:
1) We are local, with a large, well staffed gallery in Laguna Beach; and
2) We were the first—and remain the only—company to publish our MINIMUM buying prices for gold, silver, coins, and more.
When you come to our OC headquarters, or any of our remote buying locations, you’ll know what to expect before you leave your house. With the other companies, that is not the case. They only quote up to a certain amount for your valuables. That type of advertising tactic is one of many tricks used to fleece the public.
For other gimmicks, see our “Top 5 Gold Buying Scams Revealed” blog posting.
Silvano offers his golden rule for selling ANY valuable commodity: Always obtain at least three quotes from qualified, reputable buyers. Make an apples-to-apples comparison so that you know you received the best price for your valuables. That way you can sleep well at night, without the lingering fear that someone may have taken advantage of you.
A final piece of advice from our CEO: Please remember to ask each dealer to tell you the EXACT MELT VALUE of your scrap gold before hearing his or her offer. Then you can at least compare the true melt value with the dealer’s offer. For example, 18K gold is 75% pure, so if the spot price of gold is $1,600/oz, then one troy ounce of your 18K gold has a pure melt value of $1,200. If a dealer in Orange County offers you $400/oz, as—believe it or not—some actually do, then you are at the wrong place. Take your gold and your business to a fair, legitimate buyer.
For detailed information on how to get the most money for your valuables, contact us at 949-715-5333. You will be connected with a friendly, expert appraiser specializing in whatever type of tangible asset you have. Tangible Investments is one of the few firms offering FREE appraisals in Orange County. We have been in business for over 30 years and have an A rating with the Better Business Bureau.