Ocean County Warns Residents of Gold Buyer Scams as Prices Hit Record Levels
Officials warn residents to steer clear of “pop-up” buying events at hotels, malls, laundromats, or food stores. Stick with established businesses in the county instead.
Ocean County's Department of Consumer Affairs issued a warning about traveling gold buyers. These buyers set up shop at hotels and convention centers, preying on unsuspecting sellers. The department received numerous complaints about their operations, Ronald Heinzman said in an Oct. 21 statement.
Gold prices have climbed to record highs. Traveling buyers swoop in with high-pressure tactics. They target seniors.
Investigators uncovered one traveling salesperson who lacked proper state bonding with the Division of Weights & Measures. "The scales were not registered and when tested, were not recording accurate weights," Heinzman said, according to a news release.
Officials warn residents to steer clear of "pop-up" buying events at hotels, malls, laundromats, or food stores. Stick with established businesses in the county instead.
The department tells people to avoid selling gold or precious items through mail. Weigh your gold before visiting a buyer. Separate items by karat — purity changes the price you'll get.
Get appraisals from several sources before you sell. Look for scales with a valid blue seal from Ocean County's Division of Weights and Measures. The seal must show a date within the past year.
Businesses must post their prices where customers can see them. Receipts should list every transaction detail. Buyers must hold purchased items for two business days minimum.
Traveling gold buyers need registration with local police and proper bonding. Residents with questions about gold sales can call the Ocean County Division of Weights and Measures at 732-929-2166.
