Gold Buyer Ripped Off Consumers With Spring Rigged Scale

It sounds like a carnival trick, a spring secured underneath the weighing platform that would push back when items were weighed.

It was actually a gold buyer’s scale that was rigged so that it would give lower payouts, and it was one of several inaccurate scales confiscated during A NJ Precious Metals Task Force undercover dragnet, Codenamed “Operation Bling”, that ended in 49 different local gold and jewelry buyers receiving citations for having inaccurate scales that resulted in consumers getting less cash for their gold.

With gold and fear at record levels, precious metal buyers are eager to gobble up whatever you will shake out of your jewelry box for a few bucks. The gold rush has lead to some unscrupulous players to enter the market.

“Some of the buyers defrauded consumers, short-weighing their items and likely paying them less than the true value of the items,” NJ AG Paula T. Dow said at a press conference. “We found violations statewide and we’re putting the industry on notice that we won’t tolerate the cheating of consumers.”

Watch out, gold buyers, New Jersey just got classy on you!

New Jersey Says Gold-Buying Firms Cheated Consumers [Consumer Affairs] (Thanks to David!)