Sellers beware of some traveling gold buyers

The consumer education news release below is distributed by Donn Pearlman Public Relations, (702) 868-5777, on behalf of the Professional Numismatists Guild.

NOTE: A high-quality JPG is promptly available of the $10,000 gold coin that received only a $60 offer from one of the hotel gold buyers. I can also provide hyperlinks to the newspaper and television stories referred to in the news release, and contact names and phone numbers if you'd like to do interviews on this topic. Thank you for your consideration of this news release and the timely topic. -donn-
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For immediate release

July 6, 2010

Only $60 Offered for $10,000 Gold Coin

Seller Beware: Traveling Gold Buyers May Offer Bigger Promises Than Payouts

Despite prominent advertising that may proclaim, "NO ONE PAYS MORE," some traveling gold buyers are offering pennies on the dollar for valuable gold and silver coins, cautions the Professional Numismatists Guild (PNG), a nonprofit organization composed of many of the country's top rare coin and bullion coin dealers.

In one instance, an out-of-town buyer offered only $60 -- significantly less than even its bullion melt value -- for a rare 1925-dated U.S. gold coin valued at $10,000 by PNG experts.

"Recent news media investigations conducted with the assistance of Professional Numismatist Guild member-dealers from Texas revealed that some traveling gold buyers who set up for a few days in a hotel, then move on to another town, sometimes offered as little as three percent of the actual value of coins they were offered. You may see bigger promises than payouts," said Robert Brueggeman, PNG Executive Director.

"Results reported in those stories are not necessarily indicative of all hotel coin buyers across the country, but we encourage people who want to sell gold or silver to prepare in advance: know beforehand what you are selling and get more than one offer, preferably in writing. Consult with local merchants in your community who may not have flashy advertising but who may offer you considerably more money for your coins and jewelry. Members of the Professional Numismatists Guild must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise," advises Brueggeman.

The recent investigations conducted in five Southeastern states also uncovered another potential problem for sellers.

"The scales used by some itinerant buyers to weigh gold jewelry may not even be lawfully registered with government agencies. That could result in inaccurate weight measurements to your detriment when you're selling gold jewelry for its melt value," said Brueggeman.

Investigations conducted by The Examiner newspaper in Beaumont, Texas of several traveling gold buying companies at hotels in Alabama, Georgia, Louisiana, Mississippi and Texas revealed that "promises of big money weren't really true, and in many encounters the money offered was nearly a fourth or less of the actual value of the items being presented for sale," according to Jerry Jordan, the award-winning News Editor of The Examiner.

Jordan also discovered some traveling buyers operate under multiple assumed names, have lawsuits filed against them and are targeting areas of the country undergoing economic distress. The investigations also revealed that some hotel buyers do not have a brick and mortar storefront presence as required by some government agencies. In addition, some traveling buyers do advertising encouraging people to mail in their gold to sell.

Editor Jordan reported that at one hotel location, "The Examiner brought in its entire supply of coins, scrap gold and bullion -- valued at more than $43,000 -- and was offered $11,600, or about 25 cents on the dollar." At another location, hotel buyers offered only $680 for $25,580 worth of certified gold coins; only about three percent of their actual, easily determined value.

Jay Sheppard of the Better Business Bureau of Southeast Texas warned, "I consider it a red flag when these companies pay cash and refuse to offer transaction receipts."

KBTV Fox 4 television in Beaumont also did two stories about investigations in that community in conjunction with News Editor Jerry Jordan of The Examiner.

PNG Executive Director Brueggeman emphasizes: "If you don't know coins, you'd better know your coin buyer."

Founded in 1955, the PNG has a strict Code of Ethics for its members in the buying and selling of numismatic items. For additional information and the locations of PNG member-dealers, call (760) 728-1300 or visit online at www.PNGdealers.com.

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Gold Bracelets - A Buyers Guide

There are many different types of gold bracelets on the market today and different styles suit different people, so any buying guide needs to inform the consumer about as many types as possible. Whether you are into the latest fashion 'must haves' in the shape of fine jewellery lovelinks bracelets, more traditional ornate styles or the more simple gold bangles, you will be spoilt for choice both in independent jewellers shops and in the bigger chain stores.

Gold Bangle Bracelets

Gold bangle bracelets though very understated in design can show a sense of style and class purely by the reflectiveness of the gold itself catching the light as you move. There are more stylised bangles on the market however that cater for those who like to get people's attention in the street or when they're out for the evening. Stylised bangle bracelets range from simple designs, to enamelled shapes being incorporated into the bangle surround or even gold snake shaped bangles which appear as though a snake has wrapped itself around your wrist. Not a style that would appeal to everyone, but certainly eye-catching.

Gold bangles come in two main types, solid gold and hollow gold. The advantages of solid gold bangles, is that they are less likely to dent or deform than hollow bangles, however they are more expensive as you are getting more gold essentially. Plus solid gold bangle bracelets are harder wearing which means they'll last longer and can be handed down through the generations.

Gold bracelet bangles are a versatile item of jewellery which will compliment a wide range of fashions and suit any occasion whether you are attending a dinner party, birthday or going on a date they will always look classy.

Lovelink Gold Bracelets

If you are buying for the younger generation or for someone who likes to change their look on a regular basis, then you may wish to opt for lovelinks gold bracelets as they allow the wearer to become a jewellery designer themselves. They are basically bracelets with beads which are inter-changeable and the wearer can really put their own touch on the design by adding silver, gold beads and even other types of jewellery along the bracelet. Different lengths of bracelet leather are available so you can style yours to be tight around your wrist or loose with more beads. Jewellers even sell beads which have names engraved onto them, so you could have your partners name featured in your lovelinks bracelet.

Ornamental Gold Bracelets

For those of you who want a bracelet with a little more style and finesse then there are a range of handmade and ornate gold bracelets which are available on the market which have various shapes and designs. The types of designs which are available are things such as inter-twined loops, chain-links in various sizes and also bracelets with more complex loops and twists.

Two Colour Gold Bracelets

If you really want to stand out, why not consider gold bracelets made with both white and yellow gold segments. These range in style from heart shaped loops made from yellow gold and smaller intricate white gold chain links which really have the 'wow' factor. There are even some gold bracelets that are made entirely of white gold if you don't like the idea of wearing silver and don't like the colour of yellow gold.

Which ever style of gold bracelet you choose, you're sure to look classy as bangles and bracelets add another level to other types of gold jewellery. Whether you want to impress friends with unique animal shaped bangles, inter-changeable lovelinks jewellery or ornate classically styled bracelets, you'll be amazed at the choice available online or on the high street.

Find a wide selection of quality gold bracelets, from lovelinks and bangles to white & yellow gold bracelets at the John Hollins Fine Jewellery website.