cash for gold

greydigger said:
markmopar said:
cash for gold is a rip-off outfit.
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Why do you say that?
(More info please).
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Saw this on news the other day.It's a no no!!!!!Yes a rip off.No proof of the amount of weight of gold you sent.
They can say in was just gold plated,or fake.No proof of what was actually in envelope when arrived to them!!!
A losing battle.Go to local gold dealer.And check market price before you go. :icon_study:
 

cash for gold is a rip-off outfit.


Why do you say that?
(More info please).
Click to expand...

It is true as was stated above. There is no statement to what amount they are paying per ounce, nor proper weight. Midwest Refineries pays 94% of the spot price the day it is melted. You weigh it before sending it in to get an idea of it's value. When they melt it a sample is taken to determine it's purity and a check is cut or order for gold coins or what ever is filled. http://www.midwestrefineries.com/

I stopped at one place that advertised in the paper as buying gold and asked them what percent of spot they were paying per gram. They looked at me funny and asked what spot was..........I just walked out. Some ole lady that needs to sell her ring to pay for heat is just going to get ripped off by these jerks.
 

Midwest looks good if you can get through the do's and don't.
 

elkman13 said:
Midwest looks good if you can get through the do's and don't.
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I've only stricktly delt with Midwest and have always been happy. These companies are in businessto make money, and they do, but I find I get about the same from Midwest as I would selling myself on ebay. At least Midwest doesn't charge a refining fee like some of them do.
 

I sent in some gold to the cash for gold that advertises on tv and I weighed it and knew what I had . Well they sent me a check for $17.00 I was dumfounded as I sent them $75.00 worth and I Emailed them and asked what they was trying to pull and they said if I was not happy to send the check back and they would return my gold so I did and I then took it locally and was offered $87.00 for it. I emailed them back with the results and told them I would never do buisness with them as I do not deal with crooks. so BEWARE!!!!!!!!!!!! of the ones who want yo to send it in as you are better to ask arround and deal locally and face to face .
 

I used American Recycling Associates in Dallas, TX. Very happy with the transaction. 98% of market. They even give the option to watch the market and settle when ready.

I weighed everything segregated by karat and used an on-line calculator to figure the value at the current market rate. I received a little more than I had figured. Transaction was complete within a week.
http://www.aragold.com/
 

As they told the News Reporter.

They Never say they pay good Prices.

All they say is they Buy Gold.

You can put an add in the paper and offer people $1.00 apiece for class rings
& not be breaking the law. even though you would
be looked at as a Thief, If Somone is stupid enough to sell theirs for a dollar
no law was broken. other then the law of Common Decency.

They don't say what they are paying so they have to
give a grace period for returns.

They are out to get rich off the Uninformed
Just like Home shopping & Those at National Mint
selling 911 Tokens & Fake Silver $20.00 Bills.
 

I sent some scrap to Midwest Refineries a while back--thought I had done my homework well and chose them because they DO claim 96% return. Well, I received a check for about 84%, and when I inquired, the said it was because the gold was not "plumb", and because of all the extra weight in the springs of the necklaces! Yeah, right! When I told them I was reporting them to Atty General and BBB,they sent me an additional $1000--so how bad do you think I got ripped off! REAL BAD!
 

Was $1000 enough to cover that 12 % difference or did you still feel ripped off ?
Wow, that's a lot of necklaces you must have shipped then.
What are necklace springs ( non - gold ) that you refer to ?
They give 94% not 96% of "pure" gold that you stated ( I read this on their site ).
I'm very surprised a company in business since 1939 would deliberately shaft you and as you said you did your homework which implies a check on complaints.
 

And now, they are doing home parties!!!!
No kidding, just like Tupperware, Pampered Chef. A co-worker said she's going to one...I suggsted that she do her homework first, and weigh her gold and check the exchange rate!
 

vibes said:
And now, they are doing home parties!!!!
No kidding, just like Tupperware, Pampered Chef. A co-worker said she's going to one...I suggsted that she do her homework first, and weigh her gold and check the exchange rate!
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Well even if you go by Spot,
Your only going to get about 70% to 75%

the person having the party in their home will make about 10%
of everyones gold.

The person they booked the party with is going to want at least 10% Profit.

Figure the person buying to melt want's at least a 10% Profit


You may as well mail it to me & Let me send you 90%
of what I get :P

Just Joking of course, But you get the point
your better off cutting out the middle men all together.


Some buyers pay 95% of Spot
 

Having a party seems like a good way to spread and share the wealth around .
I'm not religious but it seems like something Jesus would have done.
 

jhamner said:
I sent some scrap to Midwest Refineries a while back--thought I had done my homework well and chose them because they DO claim 96% return. Well, I received a check for about 84%, and when I inquired, the said it was because the gold was not "plumb", and because of all the extra weight in the springs of the necklaces! Yeah, right! When I told them I was reporting them to Atty General and BBB,they sent me an additional $1000--so how bad do you think I got ripped off! REAL BAD!
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This sounds all too familiar!!!! I will quote the msg I left on the other thread about buying gold, Beware of Midwest refinries, they are shaving a little to ALOT off the top of the after melt assay
I'm going to have to disagree about Midwest Refineries. I have had some trouble with them recently.. First order was just right, then I sent two orders back to back, the first came back about 400 short and the next about 100 short. They were saying the assay was WAY lower then it should have been..(first order was all 20 and 22k jewelry and they said it assayed at 50%) they agreed to mail a check for 200 (still not as much as it should have been) for the first order, and said the second order was just right. I will not do business with them anymore. If possible you should deal with someone local (wish I knew of someone local that paid close to spot, I live in the East Bay Area CA, PM me if you know of anyone!)Good Luck!
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don't send your gold to those guys in the paper who have booked a hotel rm to do business out of....these guys are the worst kind of thieves....one guy even gives some prices on what he is buying....for example he will pay $7.00 for Morgans....at a time when commons were going for between $12.00 and $15.00
 

I think the Guy I deal with in Hamburg pays Spot

I Know they check spot price Before Calculating

& It can go up or down from the time you hand it to them.

And they surprise me every time With more then I Calculated at.

I Called them once & Asked what they were paying.
Till I got there it was up at least .50 Per Oz
 

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