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Accurate scales important during current "gold rush"
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6/23/2010
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Article Content Suggested lead
With the high price of gold and a struggling economy, many Oregonians are among those looking for quick cash by selling gold jewelry and collectibles. The Oregon Department of Agriculture wants to make sure those transactions are fair:
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Part of what determines the price of gold is its weight. That means scales are used to weigh the gold items being sold. Those scales must be accurate. And that's where ODA's Measurement Standards Division gets involved. Jason Barber says other states are having problems with at least some gold-purchasing companies:
BARBER: "The scales are not legal for trade. Also by code, the consumer is supposed to be able to see the indicator. A lot of times the scale is turned around and you are just taking the buyer's word for how much it weighs. You should never do that." :16
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ODA inspectors are monitoring the situation, wanting to confirm that scales are accurate and approved by NTEP, a national program for weighing devices:
BARBER: "I think a lot of what we are seeing are these fly-by-night or mobile gold buying companies go across the nation. So they are coming into Oregon from a state that may not be NTEP approved. Often times, you can get a cheaper scale that is not NTEP approved." :17
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Most businesses are legitimate and ODA has not received many complaints yet about gold transactions. But with the price of gold skyrocketing and the number of companies springing up to buy the precious metal, some consumers may be desperate for quick cash and can easily fall victim to fraud or unintentional underpayment because of faulty scales. In Salem, I'm Bruce Pokarney.
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BARBER says ODA inspectors will continue to check out gold buying companies to make sure they are using approved and accurate scales:
"A lot of these companies will advertise in the local paper, local radio, and even local TV- roll into town and set up shop in a hotel lobby or the county fairgrounds for a weekend or even a week. So we've got 18 inspectors across the state that are kind of constantly monitoring." :19
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BARBER says consumers can help themselves when it comes to ensuring fair gold transactions. In particular, they should pay attention when the gold is being weighed:
"Have the buyer weigh and test your items in front of you. Don't take anybody's word for what your gold weighs. It's a requirement that the indicator or the readout of the scale is in plain view of the customer. So make sure it's not turned around and that you can't see it." :15
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Full story
http://oregon.gov/ODA/news/100623gold.shtml |
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