MEDICINE HAT, AB — Another scam is making its way across Alberta, and some people in the city may be victims.
Dave Brown, the owner of King of Trade, said five people in the last five days have come in with gold necklaces and rings which have turned out to be fake.
He wants to warn others before anyone else loses money.
Brown said he’s heard similar stories from different people over the last week.
People are being approached in public parking lots, like Walmart and Tim Hortons, by a family or a couple needing money to get home.
They offer to sell jewellery in exchange for any cash you have.
Brown said the scam itself has been around for years but he’s already heard of one man who lost $300 thinking he was only doing the right thing.
“What they’ll do is offer to sell them some rings or necklaces that are 18K gold, supposedly, for cash,” he said. “Normally, they’ll take whatever amount of money they can in exchange for this, and, of course, the gold is fake. [It’s] fairly obvious because the rings in size are of substantial size, so they would be worth a lot more than what they’re given.”
Brown said the scammers have gotten more aggressive over the years, in some cases going as far as stopping vehicles on the highway.
He’s also heard about them offering to drive unsuspecting victims to the bank if they say they don’t have any cash on them.
Brown said there’s an easy test you can do, if you suspect the gold rings someone has promised you are fake.
A strong earth magnet will pick up other metals, like the ones coins are made of, but won’t pick up real gold.
“As the old saying goes, if it’s too good to be true, it probably is,” he said. “And, if they’re willing to get rid of a $300, $400, $500 ring for $40, chances are, why wouldn’t they take it to a goldsmith or somebody that purchases gold for the truer value?”
CHAT News reached out to the Medicine Hat Police Service but did not hear back by our deadline.
