FTC Proposes Regulation and Penalties for Dishonest Gold Buyers

I wholeheartedly support FTC involvement and proposed penalties. Bravo, Rep Anthony Weiner and Jim Kohm for your testimony. At GoldFellow, we have demonstrated best practices in our dealings with consumers selling their unwanted gold jewelry. Yet it seems the public continues to get ripped off by false statements, broken promises and outright stealing from many Internet gold buyers. As is the case in most businesses with a low barrier to entry, and a quick buck to be made, con artists always manage to surface.


The Internet allows anyone to post anything with no consequences for those who deceive the public. We strongly recommend gold sellers choose carefully, be cautious of those making unreasonably high price claims or those who refuse to make any price claims and never agree to drop your valuables in a mailbox. Use only companies offering 100% express service as well as same day processing and same day return if you are unsatisfied with the buyers offer. Deal only with buyers providing written offers PRIOR to mailing your payment and a buyers policy which requires you to accept or decline the offer PRIOR to the payment being processed.

I expect there will be others who comment suggesting I am promoting my own company. My statement to those competitors who wish to weigh in as well is simply this. Follow GoldFellow's example and refrain from further confusing the public by offering legitimate advice. We're about to be regulated and I for one believe it's the only way to protect the American consumer.



Sincerely,

Michael H Gusky

C.E.O.

GoldFellow, LLC

www.GoldFellow.com