Top 5 gold buying scams

How to avoid the most common pitfalls and secure your transactions?

Selling gold may seem like a simple transaction, but it's also rife with fraudulent practices. Whether you're an individual looking to sell your antique jewelry or an investor, are you sure you can spot a scam? Discover the five most common pitfalls to protect your valuables and capital.

1. Offers that are too good to be true

Some retailers promise prices well above market rates to attract sellers. However, these promises often conceal exorbitant fees or misleading valuations.

Key figure: In 2023, more than 15% of online gold transactions were associated with dubious practices.

💡 Tip: Check out our guide on how to assess the value of your antique jewelry to get a realistic estimate before any transaction.

2. Non-certified scales

Did you know that some unscrupulous buyers use falsified scales to undervalue your goods? An uncertified scale can easily cause you to lose up to 20% of the real value of your gold.

🔗 To learn more about precious metal valuation, read our article on how to sell your jewelry at the best price in 2025 .

A gold bracelet being weighed on a digital scale in a gold buying environment, surrounded by gold coins and jewelry tools. Beware of uncertified scales used by some buyers to undervalue your gold.

3. The absence of certification

A legitimate buyer should provide you with a detailed receipt stating the weight, purity, and agreed-upon price for your gold. The absence of such documentation is a sign of a potential scam. Ask yourself this: Would you be comfortable selling without written proof?

Key figure: In France, buying gold without a certificate is illegal and can result in fines of up to €75,000.

4. Fraudulent online platforms

The rise of online transactions has opened the door to numerous scams. Some platforms promise fast payments, but disappear after receiving your gold.

💡 Tip: Before sending your goods, always check the platform's reputation and choose those with official accreditation. See our article on gold bars or coins: which gold to choose in 2025? to understand where to invest safely.

A computer screen displays a promise of instant payment for gold shipments, with a hand counting gold bars and coins on a desk. Some fraudulent platforms disappear after receiving the gold, putting sellers at risk.

5. Hidden costs

Some buyers attract sellers with competitive prices but then deduct unjustified fees for processing, appraisal, or storage. The result: a final amount far lower than you expected.

Key figure: On average, hidden fees represent 10% to 15% of the total transaction for unreliable buyers.

🔗 Discover why gold remains a safe haven asset and how to avoid such pitfalls in your transactions.

How to secure your gold sales?

Check the buyer's reputation : Consult online reviews and favor approved professionals.
Request a preliminary estimate : Compare several offers before concluding.
Favor physical transactions : Opt for reputable jewelry stores or specialist houses.

💡 Need help? Visit La Joaillerie Rive Gauche for a free and secure appraisal of your gold jewelry.

Conclusion: Protect your gold, preserve its value

Selling gold can be a profitable venture, but it's essential to remain vigilant against common scams. By following these tips, you'll maximize your profits while avoiding pitfalls.

And you, are you sure you know the value of your jewelry? Consult our guide now on how to care for your jewelry to preserve its shine .

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