Cash for gold
More and more companies are offering to turn unwanted gold or other precious metals into cash. If you are considering selling your gold or other precious metals, you may have looked into market prices, but have you thought about the scales used to weigh your gold and other precious metals?
Before selling your gold or other precious metals to a cash for gold business, don't forget the following:
- only sell your gold or other precious metals if they have been weighed on approved and inspected scales;
- look for an inspection sticker or plate that is placed on approved and inspected scales;
- request a copy of the most recent inspection certificate from the scale operator;
- ensure that you do not sell your gold or other precious metals if they have been weighed on an unmarked scale or a scale marked "Not Legal For Trade", as these scales are not approved and cannot be used when buying or selling precious metals.
When considering selling your item, remember that its weight is only one factor in determining its value. If in doubt, you should get several quotes on the value of your item before committing to sell.
If you are buying gold or other precious metals by weight, consider the following:
- scales used must be inspected, approved and certified by Measurement Canada (or an authorized service provider) before being placed into service;
- scales must comply with the requirements of the Weights and Measures Act;
- scales that do not comply with these requirements must be marked "Not Legal For Trade", as they cannot be used when buying or selling gold or other precious metals;
- scales used must be designed specifically for weighing precious metals;
- scales used in retail trade must be approved with a verification scale interval of e = 10 mg or smaller (contact your scale supplier for more information).
Please see the Specifications Relating to Non-automatic Weighing Devices (1998) or contact Measurement Canada for more information on precious metal scale requirements. If you have any doubts about the accuracy of a measuring device, you may file a complaint.
Other useful information on buying and selling jewellery can be found through the following organizations:
- Date modified: