As global markets are currently seeing daily turmoil, worried investors are seeking safe havens for their funds. Many are looking to new investment plans to help their money grow. With the price of gold at an all time high of more than $1,700 per ounce, Better Business Bureau of Southern Arizona is advising consumers to do their homework before making tempting gold transactions.

Whether through an online venue, an at home “gold party,” or your local jeweler, many consumers are looking to sell their gold jewelry for some quick cash. However, not just any dealer can be trusted. In just this year alone, nationwide BBB has already received more than 500 complaints against gold, silver and platinum dealers, a number that is well on its way to reaching 2010’s 581 total complaints.

“Consumers need to be on the lookout for not so reputable sellers,” said Kim States, BBB President. “Many of the complaints we receive stem from false advertising and delivery issues where the consumer (more…)

As stock markets plunge in the wake of the U.S. credit rating downgrade, gold prices continue to soar, now topping $1,700 an ounce.

This new high and increasing demand for the precious metal makes it very tempting for consumers to trade their unwanted jewelry for cash. Options to sell gold online, at in-home ‘gold parties’, or through local jewelers continue to gain in popularity, but the BBB of Southern Arizona would like consumers to think before they try to cash in on the gold rush.

“Selling old or unwanted gold is a growing trend for consumers during these uncertain economic times,” says Kim States, BBB President. “Whether you do it through a gold party, over the Internet, or through a local jeweler, consumers need to get informed before they sell their jewelry.”

BBB suggests consumers consider the following before selling your gold:

Find a trustworthy appraiser. For an appraisal, if possible, go to someone locally whom you know and trust. Check with the Better Business Bureau at www.tucson.bbb.org. The BBB suggests obtaining two or three appraisals to compare prices, prior to any sale.

The true price of gold may not be what you receive. If gold is worth $1,700 per ounce, you aren’t going to be paid $1,700 for every ounce of gold you have. Ask what you will be paid (if an online company, make sure you ask for specifics and give details on items you’ll be sending). Understand that the ounce quote is for pure gold only. For instance, 14-karat gold is composed of just 58.5 per cent gold. (more…)

For more than 30 years, Tucson Coin & Autograph has been providing trustworthy customer service in an industry that is too often marred by unscrupulous traveling companies.

In today’s wide-open and booming market for rare coins and gold, many consumers are accustomed to watching “hotel gold buyers” come into town, set up shop at a hotel for a weekend, then move on to another city- often times leaving a bevy of unhappy consumers in their wake.

Tucson Coin & Autograph, which has been an Accredited Business since 1997, does business differently. Owner Brett Sadovnick has made it his duty to alert BBB whenever he comes across a company in his industry he feels is lacking in ethics.

“I’ve taken it upon myself to be a very proactive member of the BBB,” Sadovnick said. “I’m always on the lookout for possible scams, and I like to alert people when I see one happening.”

This past January, Sadovnick alerted BBB to a misleading advertisement running in the Arizona Daily Star that claimed the existence of “rare” Arizona $2 bills.

After agreeing to be part of a BBB press release, Sadovnick’s efforts culminated in an article in the Daily Star warning consumers about the offer, and a blog post on Consumerist.com, a popular consumer Web site that, according to Google, attracts 3,825,000 page views each month.

In an industry so infamous for companies that seem to be here today, gone tomorrow, Tucson Coin & Autograph’s longevity in the Tucson market is a testament to how fairly they’ve treated their customers, (more…)