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SCRAP GOLD BUYING SCAM-SELLER BEWARE!!

I want to share a story, I learned the hard way and hope to help others. This is also an update to my guide about scammers and PayPal. After selling a gold coin (180148426395) I learned of this scam/rip-off setup. Here’s how the scam works. This guy stole a credit card account and registered as that person with eBay. He even used the correct address on the account because eBay requires that the registration and credit card billing address match.

When the auction ended I did get this address, but he quickly emailed me to ask me to please send the coin to Latvia. Saying that he was ONLY the financial intermediary and would get his commission if I sent … read more ->

Cramer Warns on Gold Scams

With the economy in decline, and the price of gold above $960 per ounce on February 25, demand for gold is on the rise. It’s a big topic these days and one I’m focusing on more and more on Mad Money. So I’m going to spend the next few days here talking about the gold market; how to buy gold, where your best options lie, and how to avoid scams when trading in gold.

Gold has been around for centuries, ever since the first gold coins were made by King Croesus of Lydia around 560 B.C.

I wonder how old King Croesus would have felt about selling his precious currency to an outfit like “Cash4Gold.com.”

These guys are priceless and … read more ->

The Gold Party Scams How They Do It

THE PURPOSE OF THIS LETTER IS TO EXPLAIN WITH NUMBERS HOW YOU CAN BE CHEATED AT THESE
GOLD PARTIES WHICH ARE GOING ON AT HOMES, RELIGIOUS PLACES, SCHOOLS.

FIRST LET’S AGREE ON ONE SIMPLE THING “NO BODY DOES BUSINESS TO LOSE”.

I WILL START WITH SIMPLE NUMERICAL VALUES.

1- ONE TROY OUNCE = 31.103 GRAMS
2- 1 DWT = 1.5551 GRAMS ( THIS IS KNOWN ALSO AS PENNY WEIGHT )
3- PURE GOLD IS 24 KARAT OR 999.9 PURITY.
4- 21 KARAT GOLD IS 0.875 PURE OR 21/24= 0.875
5- 18 KARAT GOLD IS 0.750 PURE OR 18/24= 0.750
6- 14 KARAT GOLD IS 0.585 PURE OR 14/24= 0.585
7- 10 KARAT GOLD IS 0.417 PURE OR 10/24= 0.417

THE read more ->