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GoldPriceChecker claims online gold buyer calculators are flawed

As the online gold buying industry has been shaken in recent days by flawed claims, GoldPriceChecker.com has set out to investigate the authenticity of online gold buying calculators.

Aug. 8, 2012 - PRLog -- After CashMyGold.co.uk represented by Dale Winton has been struck off the companies register for claiming more than they actually pay to gold sellers, the Advertising Standards Authority has released an investigation into some of the online gold buyers’ genuineness of their gold calculators.

With this in mind, GoldPriceChecker.com has conducted a study to look into the authenticity of online gold buyers presenting gold calculators on their websites. Online cash for gold companies use the gold calculator tool to entice website visitors to sell their gold.  However, the GoldPriceChecker.com study has proven that online gold buyers are significantly over-inflating the value they will pay via the gold calculator tool.

The study showed that companies will claim to be paying over £12 per gram for 9ct gold, however the actual gold valuation offered to customers came in at a considerably lower rate. If looking at today’s gold prices, it is clear that online gold buyers cannot actually pay the advertised prices as they would be making a loss.

Unfortunately most companies did not have a valid explanation when asked why they were not paying what they were quoting online, which is why the ASA has now started to investigate these misleading messages.

Some of the excuses researched by GoldPriceChecker.com include:
o    ‘The scales you were using when weighing your gold must have an error as your gold does not weigh that much.’
o   ‘As you are not a qualified gold tester, you won’t know that your 9ct gold is not in a good quality so we can’t pay you what we quote on our website.’
o   ‘The prices quoted on our website do not include postage and administration costs.’

According to industry standards, every claim should be backed up by solid terms and conditions presented before the actual gold buying process, so that excuses as above cannot be invoked by the companies once the transaction has taken place.

If you are looking for best cash for gold prices, genuine cash for gold comparison or want to read more scam busting tips from GoldPriceChecker.com’s study, visit http://www.goldpricechecker.com.

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