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flamersfan · 10-27-2010, 01:16 PM

Just wondering if anyone knows how these Gold Exchange programs work, and if they are a legitimate business.

My mother-in-law just exchanged in a bunch of jewlery, etc. The receipt specifies how many grams of gold (24K, 18K, 12K, etc.). And how many grams of silver (split by quality).

It also states the day's market value for Gold, USD/CDN exchange rate, etc.

I did a calculation of the market value for 18K gold for example, and calculated that she received about 50% of the market value.

Is this standard to have about a 50% margin for this type of transaction?

10-27-2010, 01:16 PM	#1
flamersfan Backup Goalie Join Date: Jan 2004 Location: Calgary Exp:	Birks GoldExchange question Just wondering if anyone knows how these Gold Exchange programs work, and if they are a legitimate business. My mother-in-law just exchanged in a bunch of jewlery, etc. The receipt specifies how many grams of gold (24K, 18K, 12K, etc.). And how many grams of silver (split by quality). It also states the day's market value for Gold, USD/CDN exchange rate, etc. I did a calculation of the market value for 18K gold for example, and calculated that she received about 50% of the market value. Is this standard to have about a 50% margin for this type of transaction?