Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

How Gold Parties Rip People Off
The Business Insider ^ | 11/13/09

Posted on 11/13/2009 9:35:28 AM PST by FromLori

If you want to cash in on gold, this is the worst way to go about it

Ahh the Gold Party, a unique and recent phenomenon whereby friends and acquaintances gather to share drinks, food, laughter... and sell their gold. It's like a Tupperware party, except 'everyone walks away with money'. Great.

Problem is, most guests are getting skinned in the process and don't even realize it.

Gold party companies make enormous profits by offering horrible prices to their unsuspecting party goers.

There's a whole collection of little tricks used to hide this fact underneath the 'fun' of a party, don't be fooled...

How Gold Parties Rip People Off >>>

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: gold; parties

1 posted on 11/13/2009 9:35:30 AM PST by FromLori
[ Post Reply | Private Reply | View Replies]

To: FromLori

People are really doing this?
How stupid can they be?

Without the tricks a middle man will take a profit, plain and simple.

Find out the spot, weigh your gold and go to a decent dealer.


2 posted on 11/13/2009 9:46:59 AM PST by netmilsmom (Psalm 109:8 - Let his days be few; and let another take his office)
[ Post Reply | Private Reply | To 1 | View Replies]

To: netmilsmom

They sure are the twin cities news stations had pieces about this last night.


3 posted on 11/13/2009 9:48:16 AM PST by FromLori (FromLori)
[ Post Reply | Private Reply | To 2 | View Replies]

To: FromLori

almost as dumb as the “put your gold in an envelope and mail it to us and we promise to send you money” ads...


4 posted on 11/13/2009 9:50:30 AM PST by stefanbatory (Weed out the RINOs! Sign the pledge. conservativepledge.org)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FromLori

I took in 2 gold nugget rings from a previous life, to one of these dealers. I know for a fact that the rings themselves were 14K gold, and the nuggets were 22K. The dealer “tested” them and said that they were 10K and offered me the pennyweight price. I was offered less than $200 for about $1500 worth of gold.

They go to ebay now.


5 posted on 11/13/2009 9:54:42 AM PST by Concho
[ Post Reply | Private Reply | To 1 | View Replies]

To: FromLori

I was invited to one—was suspicious about the concept—just like tupperware and baskets, etc. I had wanted to go just to see what they would give for a stray earring, etc, but had a conflict with the date.; this confirms my initial reaction.


6 posted on 11/13/2009 10:06:56 AM PST by bushwon ("If you think healthcare is expensive now, just wait till it is free! "~ PJ O'Rourke)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FromLori

Jeez, why can’t people just get together and play bridge anymore?


7 posted on 11/13/2009 10:11:07 AM PST by PrincessB (The comments written under this section shall not be treated as comments)
[ Post Reply | Private Reply | To 1 | View Replies]

To: PrincessB

If you gave every adult in the USA a million bucks I would guess the majority would be broke within three years or less.


8 posted on 11/13/2009 10:20:02 AM PST by mono
[ Post Reply | Private Reply | To 7 | View Replies]

To: FromLori

my favorite is “put your gold into an envelope and mail it to us, we’ll send you cash” scam


9 posted on 11/13/2009 10:25:01 AM PST by 1000 silverlings (everything that deceives, also enchants: Plato)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 1000 silverlings

And if you fall for that, you probably could be found waiting in a line to get some of “Obama’s stash.”


10 posted on 11/13/2009 10:44:04 AM PST by WOBBLY BOB (ACORN:American Corruption for Obama Right Now)
[ Post Reply | Private Reply | To 9 | View Replies]

To: FromLori

Interesting article.


11 posted on 11/13/2009 12:21:18 PM PST by ConservativeMind (I love it every time a criminal dies at the hands of a victim.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mono

I’ve always said in 5 years the rich would be rich again and the poor would be poor again, but same concept.


12 posted on 11/13/2009 8:30:01 PM PST by PrincessB (The comments written under this section shall not be treated as comments)
[ Post Reply | Private Reply | To 8 | View Replies]

To: FromLori

I’ll sell them my Eagles and Krugers at spot plus 50.00 bucks. As far as the jewelry hustle, that’s just what it is.


13 posted on 11/13/2009 8:33:44 PM PST by eyedigress
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson