Differences of up to 400% in the sale of gold jewelry

(OroyFinanzas.com) – The Organization of Users and Consumers (OCU) conducted an experiment in the sale of gold jewelry and advises consumers to look at their weight and purity to know their true value “and not to underestimate it -to estimate. “The organization advises interested parties to visit at least three stores when selling gold coins “as the price offered can vary by up to 400%.”

The organization went with several gold coins to gold buying and selling establishments, jewelry stores and flea markets in 15 Spanish cities and noted a difference of between 50 and 210 euros for the same quantity of gold.

“There is nothing illegal in these price differences, since the purchase of gold is a free market in which each company can offer the quantity it wishes,” affirms the OCU, while warning that what is not legal is that customers are not allowed. shown what they weigh on the scales and that when companies do this, the result does not correspond to the actual result. The OCU claims that in 97% of cases, they weighed less.

On the other hand, the OCU considers that jewelry stores offer better prices. In his experience, stores specializing in buying and selling gold have the lowest average prices. “In addition, this type of establishment does not offer information either, unlike jewelry stores, which tend to be more transparent,” he emphasizes.

Before trying to sell, OCU advises weighing the gold coin on an electronic kitchen scale and checking its gold purity, which in most cases is 18 karat, but to be sure, you should look inside the jewelry for a mark with the purity of the metal.

OCU recommends pledging and not selling gold if necessary

The organization advises users to pawn jewelry when the need for money is “one-off”, because, even if one obtains a lesser sum, “the piece can be recovered after a certain time by paying interest” .

For this, the OCU considers that the best option is the Montes de Piedad savings banks, “because the repayment period is long, the interest is limited and, if the loan cannot be repaid, they pay the difference when they sell the part. . In this sense, he recommends avoiding pawn loans when buying and selling stores, “as loans are usually limited to a duration of one month and the interest can be exorbitant.”

Image source: Sellgoldplacerville

Source: Europa Press

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