Consumers to be aware of gold scams
AS the price of gold reaches an all time high Stirling and Clackmannanshire Councils Joint Trading Standards Service is warning consumers interested in selling their jewellery to shop around amidst mounting reports of scams across the country.
Trading Standards have completed a survey of local gold buyers. Two nine carat items and an eighteen carat ring were offered for sale to thirteen local traders. The prices offered varied from £60 to £142 - in other words by shopping around it would be possible to receive almost two and a half times as much for scrap gold.
Local Trading Standards Officer Brian Wilson said: "There is a wide disparity in how much shops or dealers will pay for gold and I know a number of authorities are looking at this issue. Unfortunately there isn't much Trading Standards can do if people are getting a bad deal, provided the trader is not actually misleading the seller about the gold's worth. We can only urge people to shop around to make sure they are getting a fair price for their gold."
Trading Standards were pleased to note that no false claims were made by any of the traders, in the shops where a price was displayed the price offered was correct however when the weighing equipment that was used was checked seven traders were found to be using unstamped and not fit for use for trade weighing machines in breach of the Weights and Measures Act.
The Councils' Licensing Services found that eight of the traders visited were unlicensed for the activities they were conducting. Susan Normansell, Licensing Standards Officer with Stirling Council and Paul Fair, Civic Licensing Enforcement Officer with Clackmannanshire Council both advised local traders to contact their respective Councils to ensure that they hold the correct licence before starting new ventures.
Selling gold jewellery to make ends meet in this recession is becoming increasingly popular but sellers are urged to beware of conmen keen to cash in on the trend.
Trading Standards and Licensing have issued the following advice:
* Always make sure that the trader you are dealing with is licensed -
you can do this by contacting Licensing.
* Be aware of people who visit your home asking if you have any
jewellery to sell.
* Exercise caution if you respond to adverts offering to buy your gold
if the trader has no fixed premises.
* Remember that if someone tells you that they will give you an amount
for your piece of jewellery, that is not the same as saying that this
given piece is worth that amount
* Get several quotes to make sure you are getting a fair offer for your
* Make sure your jewellery is weighed with accurate scales, verified
and stamped by an authorised person, before you are given a price for
* If your jewellery contains any precious stones be sure that their
value is taken into account. If in doubt get such items valued by a
reputable jeweller first.
* Any precious metals dealer is required to display a hallmarking
notice in the location where he deals with customers - it is an offence
not to do so.
* Look for the carat marking on your jewellery's hallmarking stamp to
check the gold's purity - it is likely to be either 9 or 18 carat.
Trading Standards can be contacted at Viewforth, 14-20 Pitt Terrace,
Stirling, FK8 2ET. Telephone 01786 443322 or by emailing
Licensing in Stirling can be contacted at the same address and
telephone number or by emailing email@example.com
This article appeared in Allanwater Herald 10 Jul 12
Allanwater Herald Poll
Should Greig McDonald be replaced as Albion manager after recent bad run?
This Poll is now closed.