Are you interested in buying gold? Have you heard dealers say “cash only” for gold sales? What does “cash only” mean?
Some people think a “cash sale” means a dealer is not set up to take credit cards, but they will take a check.
Not in this case. A “cash sale” means the green stuff printed on a cotton and linen blend paper and with presidential or other important historical figures’ picture on the front.
Gold can be expensive especially with the rise in prices. Why won’t dealers take credit cards or checks?
Think about it. Dealers have lost their product too many times with credit card and check scams by unscrupulous people (read criminals).
You’ve heard the saying, “fool me once, shame on you; fool me twice, shame on me.” Well, the dealers have been fooled several times with different scams. Therefore, they just refuse to take a check or a credit card for gold purchases.
You may be the most honest, most trustworthy person in the world, but due to the criminals in the world, you still need to provide cash – the green stuff – to buy gold. Please don’t be offended. The dealers do not know you. Yes, you tell them that your check or credit card is good, but don’t you think the criminals said the same thing?
Yes, it’s a hassle to get the cash, plus it can be kind of scary to have a lot of cash with you. But, be careful and alert to your surroundings – both when you have the cash and afterwards when you have made your purchase.
It’s unfortunate, but a few bad people do force honest people to change their way of doing business.