December 19, 2014 | Number of The Day
Fraud violations found in a sweep of NJ urban cash-for-gold shops

Looking to get out of holiday debt by selling some gold jewelry? Better beware: the state Division of Consumer Affairs Office of Weights and Measures recently conducted a sweep of jewelry stores, pawn shops, and other retailers who advertise “cash for gold” and found nearly 10,000 (9,967) violations of state consumer protection laws at 71 locations. They also confiscated 35 scales that had not been approved by the state Office of Weights and Measures.

The crackdown was a sweep of shops in six urban areas: Newark, Paterson, Camden, Irvington, Trenton, and Teaneck.

Newark had the highest number of violations, with 5,436 at 29 stores, followed by Paterson, with 2,459 violations at 21 stores.

New Jersey law requires that when precious metals are being purchased, they must be weighed and tested for fineness in clear sight of the seller. The buyer must use a scale certified by the Office of Weights and Measures. The buyer also must post a sign clearly showing prices paid by weight and fineness.

More information about selling precious metals is available online.