{"id":1503,"date":"2011-11-30T18:00:54","date_gmt":"2011-11-30T18:00:54","guid":{"rendered":"http:\/\/www.itmtrading.com\/blog\/?p=1503"},"modified":"2012-03-27T00:03:44","modified_gmt":"2012-03-27T00:03:44","slug":"gold-scams-to-avoid","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/gold-scams-to-avoid\/","title":{"rendered":"Gold Scams to Avoid"},"content":{"rendered":"

Here at ITM Trading we pride ourselves on transparency with every transaction our clients make.\u00c2\u00a0 Unfortunately there are other companies out there who do not take the same pride in their work.\u00c2\u00a0 Therefore there are some common gold scams<\/a> to avoid in the marketplace.<\/p>\n

Criminals and scammers will always enter a hot market in order to make a quick buck and gold just happens to be on an eleven year hot streak.\u00c2\u00a0 As a result many fly-by-night operations have sprung up around the country.\u00c2\u00a0 Some of these companies get you to wire money to them and never send the product.\u00c2\u00a0 Others get you to send in your gold coins and never send you the money.\u00c2\u00a0 These companies are in it for the quickest way to make money and will stop returning your phone calls after you have sent your money or coins.\u00c2\u00a0 For this reason you should do your homework on the company you are dealing with.\u00c2\u00a0 A good company will be upfront with you about the premiums they are charging.\u00c2\u00a0 Use a company that has been in business for a long time and has good reviews.\u00c2\u00a0 All companies will have some complaints as you cannot please everyone.\u00c2\u00a0 Check the BBB as well as PCGS, NGC and ANA before buying.<\/p>\n

Some companies will advertise coins as rare coins that actually are very common.\u00c2\u00a0 Whether that be graded bullion coins in order to increase premiums (do not buy graded bullion) or selling coins that are close to bullion value for 50-100% markups.\u00c2\u00a0 Check prices at various companies to make sure that you are getting a decent price.\u00c2\u00a0 You get what you pay for, thus some companies will give little or no advice for the best prices while others will charge more for one-on-one service, so make sure to take that into account.<\/p>\n

Because we are in the gold business we get a lot of phone calls about selling gold jewelry or junk gold, also known as \u00e2\u20ac\u0153cash for gold.\u00e2\u20ac\u009d\u00c2\u00a0 Be careful here as a lot of these companies have popped up in the last few years.\u00c2\u00a0 All companies need to make a profit.\u00c2\u00a0 With that being said the amount of money a cash for gold place is willing to pay you will vary greatly from business to business.\u00c2\u00a0 Some will pay as low as 40% of the spot price; the average is between 50-75%.\u00c2\u00a0 So if you are going to sell some of your old gold jewelry, again shop around.<\/p>\n

There are many different products that one can acquire in the gold market: from bullion coins and bars on up to highly collectible rare gold coins.\u00c2\u00a0 It is important to establish your goals and objectives before buying and make sure to get the right gold for you.\u00c2\u00a0 One type of gold isn\u00e2\u20ac\u2122t better than another, but one type of gold may be better for you.\u00c2\u00a0 For questions or concerns on these topics please call us.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here at ITM Trading we pride ourselves on transparency with every transaction our clients make.\u00c2\u00a0 Unfortunately there are other companies out […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[33,35,104,110],"class_list":["post-1503","post","type-post","status-publish","format-standard","hentry","category-blog","tag-bull-market","tag-bullion","tag-rare-gold-coins","tag-scam"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/1503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=1503"}],"version-history":[{"count":1,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/1503\/revisions"}],"predecessor-version":[{"id":11091,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/1503\/revisions\/11091"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=1503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=1503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=1503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}