Selling to “National Mail In” gold buyers
November 12th, 2009In the November 2009 issue of Consumer Reports I came across an interesting article on page 9. The article is called ” Cashing in gold? Here’s the catch”. Visit www.consumerreports.org to see the complete article
My customers often relate to me some of the negative experiences they had prior to finding my service. I feel for them and I have come to realize that an educated consumer is my best customer. In an effort to help spread the knowledge I am taking the liberty to blog about the mail in results published by Consumer Reports.
Consumer Reports had identical 18K necklaces with pendants purchased for $175 sent in to various mail in services. The gold salvage value for each item was estimated at $70. The results I read shocked me. The mail in services only paid between 11 and 29 percent of the gold salvage value. The lowest was $7.60 and the highest was $20.59. In order to put this in perspective we at Cash in Gold would pay out around $52.50. Please keep in mind that we would incur a further additional refining cost of about $7 to process the alloy gold back to pure gold.
The actual result for:
Cash4Gold are $7.60 – $12.72
GoldKit are $7.81 – $20.59
GoldPaq are $8.22 – $13.11
Know the value of your gold and get the best price. Find out the weight and Karat of your items and look at my pay out chart. If you do not have a scale you can estimate the weight by doing a hand comparison with coins. A loonie and penny weigh approximately 7 and 2 grams.