I-Team Exposes Gold Buying Company That Is Ripping People Off

June 19, 2012 12:00 AM
I-Team Exposes Gold Buying Company That Is Ripping People Off

" BOSTON (CBS) – With the price of gold doubling over the past three and a half years, you may be thinking of cashing in some of your old jewelry. But you need to do some research before handing your precious items over. The I-Team went undercover with CBS stations across the country and found one major company ripping people off.

Undercover cameras catch an employee of the Treasure Hunters Roadshow undervaluing gold. When CBS producers try to sell an 18K gold bangle bracelet at one of THR’s traveling gold buying road shows, they’re told it’s only 14 carats and offered cheap money for a sale.

“I would say shame on them for duping the public,” says Helen Werner.

Werner had a few silver dollars she wanted to sell so she headed to the Treasure Hunters Roadshow in Peabody last March looking for a deal. She sold two coins for 20 bucks but when she deposited the company’s check, she got it back from the bank. The check didn’t clear and her bank charged her a $20 fee as a result so Helen was out $40 "

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