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Back around 1980, when gold was at $800.00 a Troy Ounce, a friend of mine was a witness for the defense in just such a case. The Jeweler made a deal with department stores in the region. He would set up and heavily advertise that the store was buying gold. He made a killing and local authorities charged him with buying stolen merchandise. They claimed that at the low amounts he was paying he should have known that some of the merchandise was stolen. My friend was able to show that the low prices paid for the jewelry was actually a nation wide industry standard. The jury found the jeweler innocent. Even today most pawn shops and jewelry stores that buy jewelry pay around 20% to 30% of the value of the gold content. Back when gold was hitting $1,900.00 a Troy Ounce the companies advertising on TV and the Internet were found to be paying only 10%.
Apache
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