Selling old items for cash? Don't get ripped off warns BBB

TYLER, TX (KLTV) - By Courtney Lane - bio | email
Posted by Ellen Krafve - bio | email | Twitter

TYLER, TX (KLTV) - With the unemployment rate at almost 10%. More East Texans are selling and trading in old jewelry, gold, or collectibles for cash. There are lots of companies that buy, but who can you trust?

Everyone hopes to bring in that old rare item that's worth big money. Whether it's old coins, vintage musical instruments, old toys or war memorabilia. One World War II veteran brought in a greeting card he says was signed by Adolph Hitler.

"That was the only one that had Hitler's signature on it," said Woody Wood.

"We have collectors so we can pay a premium price," said Angie Wright, with Ohio Valley Gold and Silvery Refinery.

The company is hosting a roadshow in Tyler and they have been through Longview, too. Wright says they have paid out hundreds of thousands of dollars to East Texans, but the highest value is in gold.

"Anytime the economy is down here, gold's going to be up here," said Wright. "You saw a guy walk out of here with a little handful and he walked out with $900."

But, others were disappointed their valuables were not worth more.

"We recommend that you go out and go to a neutral appraiser first," said Mechele Mills, with the Better Business Bureau.

Before selling anything, the BBB of East Texas recommends shopping around.

"Go to two or three places and then you can make a good decision," advised Mills. "Probably the best place you're going to get for your jewelry is a pawn shop because they will sell it as is."

Though times are hard, the BBB advises you not to walk in anywhere desperate or take the first offer or feel pressured. Wright insists that is not how their company operates.

"Nobody has to sell anything," said Wright. "We are going to spend the energy and the time looking at their stuff."

Just be sure you do your homework to get the most for your treasures.

The company has a "B-" rating with the BBB. The BBB says that is actually pretty good. It had one complaint that was resolved.

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