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Posted: 6:00 a.m. Thursday, Feb. 28, 2013
YOUR MONEY
By Lauren Pack
Staff Writer
HAMILTON —
The high price of gold and a tough economy have prompted many people to sell their unwanted jewelry and other precious metal items for cash.
And with several jewelry stores, pawn shops and online dealers offering cash for gold, they’re not having a hard time finding buyers. But the Butler County Auditor’s Office is urging sellers to use caution after it discovered a business using unauthorized scales in Hamilton.
A Toledo business that temporarily set up in Hamilton to buy precious metals was shut down for a day last weekend because their scales did not pass the auditor’s office inspection.
“Buyer beware,” said Butler County Auditor Roger Reynolds, whose office learned from local media ads of the business.
“First off, they were using scales marked not for legal use, ” Reynolds said. “We tested it and it came out in favor of the vendor.”
The auditor’s office confiscated the scales, he said. The business ordered a proper scale that was certified and was permitted to open.
Two inspectors in Reynolds’ office are tasked with testing scales used by businesses to weigh items. In the past year, gold trading has been between $1,540 and $1,791 an ounce and big money can be gained or lost if the scale is not adjusted properly.
“Consumers really must be wary of these businesses,” Reynolds said. “This company did not notify us that they were coming into the county and the scales were off in favor of the business.”
Before any transaction, residents should make sure the scale being used is certified by the auditor’s office, Reynolds said.
All businesses engaged in buying or selling precious metals must also have a commercial National Type Evaluation Program-approved scale to weigh these metals. Class II weights are so precise that the oils on a human hand can make those weights inaccurate. The inspector either has to pick the weights up by clean gloves or by tongs in order to use them.
The auditor’s office recently purchased a set of Class II weights, providing the two inspectors the freedom to go to businesses unannounced to check the accuracy of the devices. The cost for the weights was $2,400.
Reynolds said previously the business would have to schedule an outside registered service agency to test the scales and coordinate with the auditor’s office inspectors who had to watch the inspection.
“Having our own weights saves a lot of time,” he said.
Butler County residents should contact the weights and measures division of the auditor’s office at 513-785-6318 if they encounter any scales not certified by the auditor’s office.
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