Gold Buyers Being Watched…

Every once in a while I hear the idea of an organization ‘policing’ Gold Buyers.  The idea is to protect people selling jewelry by having standards, etc that Gold Buyers should follow and letting the public know about those standards.  While that will probably never happen; an Atlanta, GA News Station took it upon themselves to look into the varying amounts paid out for a bunch of gold. 

In the report (linked here), they received a wide range of prices; but this blog is about how they determined the dollar amount of their gold…by using X-Ray Fluorescence (XRF).  The report uses a Handheld XRF but desktop analyzers, like the popular QSX-79T, have been used for years by gold buyers that want to differentiate themselves from the other gold buyers.

XRF Gold Test EquipmentXRF provides nondestructive analysis of a sample (in this case, scrap jewelry) and can provide results that will be more accurate than other methods (anywhere from 0.1% to 1% accuracy).  Of course, in the video report the price difference is primarily based on how the gold buyer “pays out” – however, I would imagine that if their ever is a company that ‘sets standards’ for jewelry buy-back companies they would rank a user of XRF technology fairly high.

Why is XRF an important tool for gold buyers? 
As gold continues to climb, the people selling gold will get more savvy and begin looking for gold buyers using the best technology to show them the percentage of gold they are selling.  From what many Quickshot XRF users are saying; many sellers already are…

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