Has anyone seen the TV add (on uk tv) about a company that buys your old/unwanted gold chains rings etc?
You contact them they send you a prepaid envelope to post the gold to, they evaluate a price and if you agree to the price offered they send you the cash, if not they send the gold back to you.
I'm afraid to say that you are 100% correct. I know somebody who has a similar business, (pawnbroking) in the UK (he is 100% legit). His business has expanded 5 fold in the past year due to the gangsterism of disreputable outfits buying Gold at the wrong price.