--To Be Broadcast Wednesday, November 26, 2008-

New York, NY - Nov. 25, 2008 - Dealers across the country are eager to buy your gold. Gold prices are near record highs, topping $800 an ounce. But INSIDE EDITION found that if you want to sell your gold, you need to do your homework.

For the report, INSIDE EDITION interviewed Don Palmieri, who is a master appraiser and jewelry expert. Palmieri assembled twenty-three pieces of old gold to try to sell. Each piece was weighed and analyzed with precision instruments to determine gold content, and then laser etched for identification purposes.

Based on the going rate for gold at the time, Palmieri and a second independent expert told INSIDE EDITION they should receive between $975 - $1,200 for the gold, depending on the amount of profit a dealer makes.

INSIDE EDITION hit the streets with hidden cameras and received an eye opening range of offers.

First, at several stores in New York's jewelry district, INSIDE EDITION was offered over $1,000 for the gold.

One dealer offered an INSIDE EDITION producer $1,100, but when he declined, the dealer was willing to pay even more - $1,200 - $1,400.

One New Jersey dealer initially offered much less - $700. But after INSIDE EDITION declined, the dealer made three better offers in less than two minutes - eventually offering $900.

The lowest offer INSIDE EDITION got was from Cash4gold.com, a company that advertises it is America's number one gold buyer, and claims to be able to give customers top dollar for their unwanted jewelry.

In its national television ads, the company, based in Florida, says it can offer more money for your gold because it is also a refiner and does not have to pay an outside company to melt down the gold.

When INSIDE EDITION sent the same collection of gold to Cash4Gold.com, the offer was a mere $209.81.  When INSIDE EDITION declined Cash4Gold's offer, the company instantly nearly doubled it to $413.11, which is still significantly lower than all the other offers received.

In a statement to INSIDE EDITION, Cash4Gold defended their valuation of the show's gold saying they use a "high end X-ray technology" that is "far more accurate" than other methods.

They also say they have "hundreds of thousands of satisfied and repeat customers," and cited their 100% satisfaction guarantee, which includes returning customers' gold if they decline their offer.

Palmieri advises consumers not to take the first offer and always go to the most local trusted dealer first.

Check local listings for times.

INSIDE EDITION is produced daily at the CBS Broadcast Center in New York City and produced and distributed by CBS Television Distribution, a unit of CBS Corp.  http://www.insideedition.com/   

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