Major gold buyer cheating consumers?

(CBS News) The price of gold has doubled over the last three-and-a-half years, to more than $1,500 an ounce.

Many Americans who need quick cash are selling family heirlooms and other jewelry.

But when they do, they may not always get a fair price.

Six of our CBS stations took part in an investigation led by Julie Watts, of the CBS San Francisco station, KPIX.

The probe discovered one of the largest gold-buying operations in the country, THR & Associates, promises “top dollar,” but offers just “pennies” on the dollar.

And while that may be legal — lying to you about the quality of your gold is not.


CBS News has the full transcript


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