07.17.12
Gas station gold buyers? A disturbing new trend
We’ve noticed a disturbing trend in the gold-buying industry lately. It seems to us that every day, a new gold-buying shop pops up out of nowhere, with no experience and no credentials.
Just the other day, we even saw a story from Iowa about a gas station where you could fill up the tank and sell your gold, all at the same time. Imagine that: a gas station clerk making the call on how much your precious gold pieces are worth!
When you pull up to the gas station in Iowa City, IA, you will be greated by two large signs that read, “We buy gold!” along with lottery advertisements and beer posters. The owner says that he has one or two customers a day that come in to sell their items, ranging from broken and mismatched earrings, to jewelry from exboyfriends and divorced men looking to cash in on their wedding bands.
The owner told a local newspaper that he had seen the idea in a magazine and decided to just go for it after seeing a combination gold buyer/gas station in Chicago.
Due to the recent increases in the price of gold, the number of gold buying stores has increased dramatically as well, although there are no exact numbers. Because there is no regulatory body that oversees gold buying businesses, these fly-by-night gold stores come and go as they please.
This is why C.D. Clark & Co. is different. Our founder, Chad Clark, has been dealing in precious metals for more than 25 years as a retailer and a wholesaler. And unlike a gas station transaction, at C.D.Clark & Co. you are always treated with the utmost respect.
