Gold price increases drive more sellers and new scams

Rising gold prices have led to an increase in individuals selling jewelry, coins, and other precious metals to cash in on current market highs. In areas like the Coachella Valley, buyers report a surge in customers bringing in items ranging from broken chains to old coins to fund travel, pay bills, or reinvest in bullion.

Local experts and business owners, including James Fawcett of J&J Gold Buyers, advise consumers to research the purity of their items—noting that 14-karat gold is approximately 58% pure—and to obtain multiple quotes before finalizing a sale.

Authorities are also warning of a rise in scams targeting unsuspecting individuals. Scammers have been reported approaching people in locations such as gas stations and casinos, offering gold or luxury goods like Rolex watches in exchange for quick cash. Experts warn that these items may be counterfeit or fake gold, and recommend using only reputable buyers to test valuables.