Don’t be a victim of a golden fleece

People considering selling precious metals to help make ends meet are being warned to be on their guard after a recent survey across the North West found that nearly half of all weighing by jewellers may be inaccurate.

The project was conducted jointly by a number of authorities across the region, including Rochdale, and was coordinated by Trading Standards North West.

The results come at a time when there has been a significant increase in the number of traders buying scrap gold in the region as people are forced to cash in their old jewellery due to the economic climate.

Trading standards officers posing as customers obtained valuations for scrap gold items at a range of jewellers across the North West to determine whether customers are getting a fair deal.

The officers also inspected the premises to check if legal requirements for weighing equipment were being met and to identify possible false claims.

Prices offered varied greatly between traders while some jewellers in the region were incorrectly advertising that they were paying ‘best’ or ‘top’ prices.

Officers also found that 71 per cent of traders who had not been visited previously were using illegal weighing equipment which could not be relied upon for accuracy. In addition, they reported that many traders weighed gold out of sight of the customer providing a greater opportunity for fraudulent or inaccurate weighing.

Anyone thinking of selling jewellery should take the following steps: 

• Only use reputable firms.
• Find out the market price per gram.
• Ask what rate is being paid by the trader before an item is weighed.
• Insist that the item is weighed in their presence. 

Councillor Martin Burke, Cabinet Member for Internal and Environmental Services, said:“With so many people experiencing financial difficulties at present, it is more important than ever for them to get a fair deal if they decide to sell items of jewellery.”

“I urge people to be extremely vigilant and report any suspicions so that the traders in question can be investigated.”

To make a complaint or report suspicions, call Consumer Direct on 08454 040506.