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New Jersey operation finds widespread cash-for-gold cheating

by Greg Klein | December 19, 2014

Undercover officers from a New Jersey cash-for-gold task force found violations in nearly half the stores they checked, Rapaport News reported December 19. Seventy-one shops in six cities piled up about 10,000 violations, according to the state’s Office of Weights and Measures. Each violation, considered a civil, not a criminal matter, can result in a penalty ranging from $500 to $1,000.

New Jersey operation finds widespread cash-for-gold cheating

New City Gold & Diamonds in Newark, NJ, pulled in a
record 1,150 alleged violations. Photo: Google Maps

“Alleged violations may have included failure to use a scale that has been state-certified and/or sealed to prevent tampering; failure to prominently post the prices offered for various precious metals; or failure to maintain serialized receipts with required, specific information about the buyer, seller, and/or precious metal items purchased; or for related matters,” Rapaport stated.

State acting attorney general John Hoffman said, “The fact that our officers confiscated the scales used in nearly half of these stores demonstrates the great need to ensure these consumers are not cheated.”

The sweep follows a June crackdown in which 21 NJ stores wracked up 936 civil citations.

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