our Alert: Unlicensed San Diego Gold Buyers
A recent KTVU special report has investigated an increase in rogue gold buyers operating in the Bay Area, which is putting consumers at risk. According to the KTVU report, rogue gold buyers can cheat customers out of a fair cash payment for gold, while fueling local gold jewelry thefts. Criminals are attracted to rogue gold buyers because they don’t maintain proper records or require customers to submit identification.
San Diego Jewelry Buyers (SDJB) has confirmed that rogue gold buyers are also a problem in San Diego County. Previously interviewed by KUSI TV in a news report on how to sell gold safely, SDJB states that legal gold buyers must possess a second-hand dealer’s license and follow mandatory procedures when buying gold from the public. These procedures include requiring photo identification and a fingerprint from the gold seller, using government-certified scales to weigh gold, and holding onto gold merchandise for 30 days before processing.
These rigorous steps ensure that licensed San Diego gold buyers are not buying stolen gold from criminals. “Some people believe that thieves use pawn shops and other licensed dealers to sell stolen gold,” says an SDJB spokesperson. “But that is a misperception. Criminals much prefer using rogue gold buyers, who (unlike us) are not licensed and regulated on the local, state, and federal level.”
SDJB also warns that rogue gold buyers operate through San Diego gold parties held at the homes of residents. “Any San Diego gold buyer who buys gold at your home is doing so illegally. Second-hand dealers may only buy gold at their permanent business residence. They cannot throw gold parties at your home and purchase gold from your friends.”
SDJB encourages all those who want to sell gold to use a licensed gold buyer like San Diego Jewelry Buyers, which is both a gold buyer and a San Diego gold refinery. “When you sell gold to a licensed dealer, you are protecting both yourself and your community. There are many gold buyers to choose from in the San Diego area. We always recommend people research the gold buyer online before making a final decision about who to sell gold to.”
For more information on how to sell gold safely and lawfully, please visit SanDiegoJewelryBuyers.com.
