In times when the stock market shows high volatility and unpredictability, gold remains stable and maintains its high value. Thus, a lot of savvy investors diversify their investments and stock up on gold and other precious metals when the economy is beginning to show signs of instability and a market downtrend is imminent.

Shrewd business owners take advantage of the high value of gold by offering to sell gold jewelry from unsuspecting customers for supposedly unbelievable low prices. If you are looking to buy a few pieces of gold jewelry, this may seem like a welcome development. The bad news is that the gold buying and selling industry is filled with a lot of scammers, and for an inexperienced gold jewelry buyer, it may be difficult to tell a genuine business from a scam.

Having said that, here are some tips to keep in mind to avoid scams when buying gold jewelry:

  • As much as possible, talk to the seller in person. – This simply means to deal only with sellers with a physical store. When buying online, you have to pay first, then wait for your order to be delivered. In some cases, the delivery never comes. With a brick and mortar store you can visit, you can pick up your purchase right after paying.
  • The gold jewelry seller must care about their potential clients. – As a buyer, it is not a good idea to argue with a seller about getting a fair shake. You should also avoid being duped into buying jewelry at a price that is much higher than what it is actually worth. Look for a seller that offers the best prices for high quality pieces of gold jewelry.
  • Buy from a local shop. – When you buy from a local jewelry seller, you not only help improve the local economy. You also get personalized service since you are both part of the same community. There is a good chance that you know each other or you have a common friend. A scam is also highly unlikely since the seller needs to protect their reputation within the community, and you know how fast word of mouth spreads among neighbors.
  • Find a seller who is willing to entertain your questions. – It is always a good idea to deal only with people who know what they are doing, and are willing to help you understand the entire process. They might even let you in on their pricing strategy.
  • Choose a seller who will promptly give you what you are buying. – The seller should not make you wait or come back later for your purchase – unless there is a valid reason. It could be a red flag if the seller asks you to come back later when you have already paid, and you are buying a piece of jewelry that is in the display shelf.


Final Word

By taking time to make sure that you are dealing with a reputable and legit vendor, you have a greater chance of ending up happy with your purchase. Follow the tips provided in this post to avoid scams.


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