Friday, March 20, 2009

To Ensure Accuracy Gold Buyers Must Use Certified Scales

Georgia Agriculture Commissioner Tommy Irvin warns consumers that if they want to receive “accurate value” when selling unwanted pieces of jewelry to gold buyers, the weighting device (scales) must carry the green “legal for trade” seal showing that it was inspected by the state agriculture department.

“Our weights and measures inspectors are combing the state to protect consumers. We are checking the certification of all scales to make sure that our consumers are getting an accurate reading,” Irvin says.

“Consumers need to look for the green Georgia Department of Agriculture seal that certifies the measuring device is accurate,” Irvin says.

As the price of gold increases, Georgians are being courted to sell their gold jewelry at malls, hotels, flea markets, home parties and to others who purchase the commodity by weight. The scale weighing the gold must be certified for accuracy. By state law, that’s the responsibility of the Georgia Department of Agriculture.

“Businesses and individuals who are buying gold by weight need to have those scales certified before they deal with consumers,” Irvin says. “Our inspectors are going to ensure Georgians that the scales are accurate.”

Irvin also advises consumers that before they sell gold be sure to get an independent appraisal of the gold by weight and purity. Gold purity is measured by karat while gold is weighted in grams or pennyweight. Gold, sold as scrap metal often loses more than 60 percent of its retail value.

Georgia Front Page
Fayette Front Page


tokmik said...

You are never going to get market value for your gold. A lot of people forget that it is a business and there are expenses. About 2% of the gold immediately evaporates upon melting, market price may drop, rent, assay fees, permits, labor, taxes, etc etc. Also market prices are based on 1,000 ounces of bullion (bars, coins etc) on a trading level. Giold Buyer

Scale Man said...

In most states, you must use a NTEP certified scale to buy or sell based on weight. You see it all the time at the grocery stores and farmers markets.