Who is the best "cash for gold" company?

[treasurekidd]

Who is the best "cash for gold" company?

Hi all! I have a few scrap gold and sterling rings that I'd like to send in for cash. Who do all of you use when selling your metal detecting finds? I used Midwest once a few years ago, and I'm just looking to see if you could recommend a best source. Thanks!

 

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[Newt]

Re: Who is the best "cash for gold" company?

Be careful. Some are scams(or most).
Newt

 

[goldsworthy]

Re: Who is the best "cash for gold" company?

I wouldn't sell ANY silver or gold at this time! I think prices might go parabolic in the next 2 or 3 weeks!

 

[Silver Stripe]

Re: Who is the best "cash for gold" company?

A fellow Tnetter (jewelerdave) is a good option. He can also refine and mint coins with your gold. www.enviromint.com
HH all, Mark

 

[Cappy Z.]

Re: Who is the best "cash for gold" company?

I took a gold ring to a local place that had one of those religious symbols hanging out by the door.

Basically their attitude was "It's junk gold. We'll just melt it down. Can't use it.."

I should have kept the ring.

People are like politicians when it comes to money....liars.

 

[goldsworthy]

Re: Who is the best "cash for gold" company?

I wonder how they figure that "old gold" or "junk gold" is any less valuable then freshly mined gold? I allways thought gold is gold even if it came from ancient Egypt!

 

[Sandman]

Re: Who is the best "cash for gold" company?

I only use Midwest Refineries!! They are the best and very fair as they pay 95% of the spot price the day they test it. All the gold you send them is melted down into one ingot. A sample is tested as to see the purity, weighed and a check is cut for you.

"Junk gold," only refers to gold jewelry that is in pieces, mismatched, or broken. It doesn't mean the gold is old or of no value, just not as jewelry.

Stay away from any place that offers you so much a gram, pennyweight, or what ever before they even see it or test it for purity as they are gonna rip you off. There is nothing wrong with the buyer making a profit, but not when you don't know the true value of the gold or silver you are selling.
this
One advertisement I saw on TV claimed they would pay you 20% to 30% more if you sold to them. This means they are going to pay you only 65% of what it is worth and that is only during the time of the special compared to Midwest.

 

[Treasure_Hunter]

Re: Who is the best "cash for gold" company?

Gold is gold, "junk" is term they use to pay you less. How is a broken bracelet worth less then one not broken as far as the gold content in it, it's not! 15 grams of 14k gold is 15 grams of 14k gold.

Midwest Refineries is one of the best..

http://www.midwestrefineries.com/

 

[Corpsegrinder]

Re: Who is the best "cash for gold" company?

I say Jeweler dave.. He pays 98% of spot. which adds up compared to others.

 

[RustyRelicHunter]

Re: Who is the best "cash for gold" company?

This month's issue of Consumer Report has a short article on selling your junk gold; it is pretty interesting because they sent identical gold items to different buyers and received only 7% to 50% of the melt value. The worst part of the article is the "advice" they give: try to get as close to 50% as you can when you sell!

The members of this forum have given much better advice by naming several refining operations that pay 95%-98%!

 

[texan connection]

Re: Who is the best "cash for gold" company?

EBAY

 

[Newt]

Re: Who is the best "cash for gold" company?

The only gold "lost" is on the floor. They sweep that up too. Am I wrong?
Newt

 

[Treasure_Hunter]

Re: Who is the best "cash for gold" company?

Gold is gold, "junk" is term they use to pay you less. How is a broken bracelet worth less then one not broken as far as the gold content in it, it's not! 15 grams of 14k gold is 15 grams of 14k gold.

Midwest Refineries is one of the best..

http://www.midwestrefineries.com/

I recently used Midwest. The only thing I didnt like was when I called them to ask about their services, the guy informed me the there is a 3-4% gold loss during the refining process.
I called ARA Gold today. They pay 98% for gold and they remove stones for free. He also informed me that there is no gold loss in their chemical refining process. I wish I would have used ARA instead.

I have had several friends who sent their gold in to Midwest and everyone was satisfied with the settlement. Sorry to hear you were not. I haven’t sent any in yet, I am still holding mine, but I will use Midwest when I do……………

Good luck and good hunting………..

 

[raptor]

Re: Who is the best "cash for gold" company?

I wouldn't sell any gold right now. Gold is going to be rising soon. We are in a market correction right now but expect within a few weeks for gold to be 1300 or better. Remember if you don't hold it you don't own it. If you can hold on to it for as long as you can

 

[mlayers]

Re: Who is the best "cash for gold" company?

Who is ARA and what is their address or number.....Matt

 

[Cherryman68]

Re: Who is the best "cash for gold" company?

I bet "cash4gold" is the best I mean Mr. T and M.C. Hammer would not lead us wrong would they?

 

[greg23]

Re: Who is the best "cash for gold" company?

I ordered one of "SCAM Cash for Gold's" mailing kits... .I'm just curious as to what there contract states.When I called and asked what they were paying for 14k,the girl didn't have a clue.I would never even think to sell gold to them.I wouldn't even sell them aluminum!

 

[ivan salis]

Re: Who is the best "cash for gold" company?

cash for gold as seen on TV is or was great for crooks with stolen hot jewelry --- no having to show your ID locally at some area pawn shop while trying to sell off your stolen goods -- no having it laying around where the local police might "match up" the stuff in the pawn shops "inventory" to locally stolen goods thus leading back to you either ---so what if you only got a fraction of its legit value--- because hey its not like you actually paid for it or worked hard to earn the cash that bought it ---LOL

for honest folks --any of the TV type hyped up -- mail in your gold for cash outfit is a rip off .

 

[ThTx]

Re: Who is the best "cash for gold" company?

I want to know when the spot price for pull tabs is going to hit $1,000!

A

 

[jewelerdave]

Re: Who is the best "cash for gold" company?

Facts about Loss


just to clarify.

There are losses when alloy is melted. Old rings, Placer, etc. What is lost in burn off is things like
Hand lotion, soap scum, dirt, plastic fillers under stones, epoxy, enamel. Check under any stone of any ring and be disgusted by what you find. This little bit of weight does add up.
to avoid melt loss. Make it clean, stone Free. Gold its self will not be lost. But the junk on it will be. This was not gold in the first place so if your buying its important to take into account that crap on jewelry is just that. Also stones in nuggets etc. we all know that quartz is not gold.

Also, no amount of wishful thinking will improve the alloy or make it better.

If the alloy is clean. there should not be any melt loss. Some Zinc/silver can evaporate if your using a torch. If your fluxing and using an electro melt. Loss will be so tiny its only noticeable on HUGE Amounts. Or it can be blown out of the crucible.

Loss can take place if there are hangers in the crucible and the operator is in error(not all poured out). Or if there are spills or other inefficiencies/operator errors.

When doing a chemical Refining there will not be any loss if done right.
Example 1.
I had a guy bring me some self refined gold, But it was stained bad, a nasty brown coating. I told him I would have to refine it again to get that off. Regardless of who Refined it I always do it again to be safe. It was 1.5 ozt. After Refining I recovered 1.5 oz. The contaminate was so minor it affected color but not weight, Could have been as little as a tenth of % But all gold should be recovered.

Example 2.
The US Mint used to Coin your gold for Free. You took them $20 in gold, They made it into a $20 gold piece. In Some Countries, Like in Australia where the gold was high purity refining was not needed. It was just alloyed down to spec with copper, any silver was left in the coin. Mostly Soverigns. When people wised up too this, that %1 to %3 silver content became attractive...if you were rich enough to buy hundreds of pounds of soverigns.
So for a while other countries gold was refined. The Gold sent too the US mint for Eagles. And the silver was a bonus! There was no Risk as it was a chemical assay all the way. 100% Recovery of the gold so no risk.

On that matter also. The reason why Guys like me can pay 98% on gold after Refining, Is because we dont pay on the silver. On small lots it does not make sense too, But on big lots when we do 30 to 50 oz batches at a time. There can be quite a lot of silver in the alloy that is just bonus. This is why most Refiners charge a Refining fee if you want to include Silver, Platinum etc. Or have separate schedules.

Quite frankly the gold refining business is so damn transparent as to what people make. If its too good to be true, its not.
Where money is made is in volume.
For example, I am small. probably one of the smallest commercial refineries out there. But its transparent what we do with the gold. It all ends up as coins, or in jewelry. Fortunately I don't eat much so I can be as competitive as the big boys. But I am also realistic.

For example, if I am refining out a batch of 1 oz fine or more contained for a customer...they get 98% no refining fee.
if less than one oz I pay 95%. I dont Refine it, I just pay for it and add it too other bought lots.

Basically if I am going to spend the time to do it I have to make at least $30 for my time. Then I fork over piles of Ben Franklin to people who found/inherited or bought cheap at a garage sale gold. If people have problems with leaving a couple % on the table for the ones who have to do all the chemical handling work etc, I don't do business with them. use Ebay, or Retail it.

But for our bigger clients who want it coins, or have piles to sell it works out great. We generally buy outright cash at 95% all day long on unrefined. Some lots come out better than others yes. Older gold could be up to a half karat low and still be legally marked as say 14k at 13.5k. But anything after 82 should be with in 7/1000ths accurate.

Bottom line is. Any Chemical assay will get all the gold that's in the batch. And it will get all of it.

In general if a lot comes up short. Its not the Refiner that screwed you, its the maker. Who is going to know if I add some copper to a ring right?
Well the good news is now with XRF machines bad gold and alloys can be caught! Identified etc. Wont be helpful for places out of biz. But is changing the industry.

The Still tried and True best way to find out how much gold is there. Is the Full Chemical assay, but it takes time. XRF assays, sample assays, current tests, scratch plates give a good Idea of what that one spot is. But the Full assay will always get you all the gold.



Below is what I deal in...and pay out.