See the difference? Texans fooled by fake gold

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by Stacia Willson / KENS 5

khou.com

Posted on February 19, 2013 at 8:16 AM

Updated Tuesday, Feb 19 at 9:15 AM

SAN ANTONIO -- A growing number of San Antonians are falling victim to individuals passing off fake gold as the real deal with the elderly hit particularly hard. 

In most of these cases, consumers think they've found a great deal, but in reality, they're getting ripped off. The crime is costing buyers big money according to San Antonio pawn shop dealers.

"Just because you get a chain and you put a stamp on it for 14 karat doesn't make it 14 karat" , says Edward Camp, Owner of American Loan Pawn Shop, LLC.

Camp also says the amount of fake gold being passed for the real thing is growing.

"They give us the story that they bought it at a Mexican restaurant or a car wash and they got duped out of a 100 dollars 80 dollars 20 dollars."

KENS 5 has learned about an elderly San Antonio man who lost $400 dollars after buying gold on the streets, and another woman told us she lost $200 dollars, after purchasing what appeared to be real gold from a vendor set up at a parking lot off Valley Hi road and Loop 410 South.

Experts say part of the problem is that the gold often looks very authentic, frequently carrying a 14 karat gold seal.

They say the best thing to do is purchase gold from a respectable and trustworthy seller.

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