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| Question: Selling Gold | Rate Topic |
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| Posted: Tue Jun 8th, 2010 12:23 am |
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1st Post |
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Nabco 3T WIS 
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I have a lot of experience buying and selling gold bullion, but very little dealing in selling gold jewelry. Decided to go through the safe and pull out gold jewelry that my wife and I do not wear anymore to see what i could get for it. Actually came up with about 8.5 ounces of 14K and about 4 ounces of 18kt so went out on the net to do some research....came across a site for a company called US Gold Buyers...they listed their Payout Prices at $659/oz for 14K and $846/oz for 18Kt. With that in mind decided to visit a couple local buyers, the best offer i got was about 1/3 of those numbers....thinking it sounded to good to be true i decided to give them a call...the explanation I got was that they did there own processing of the gold and were not a middle man...they pay roughly 95% of spot which is very common in bullion trading...so that made sense. The next thing i did was some research on the net and found them mentioned in a couple jewelry forums with very high recommendations with the same kind of numbers and the same explanation as to how they can offer those prices...these were posts in these forums of guys with over 1,000 posts so i doubt they were plants. Anyway, was wondering if any of you have had any experience with these guys or someone similar....they provide their FedX account number for shipping of items valued under $5K and tell you to use the USPS for items over $5K and they reimburse the shipping.
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| Posted: Thu Jun 10th, 2010 01:31 pm |
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2nd Post |
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Nabco 3T WIS
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For anyone interested here's an update....all i can say is HOLY CRAP, these guys are for real  It ended up after all was said and done on Tuesday afternoon I sent an overnight FedEx package to them (on their dime, they gave me their account #), based on my postage scale it contained 8 ounces of 14KT gold, 4.5 ounces of 18KT gold and 10 1 ounce silver ingots, based on their posted payouts I estimated I should receive somewhere around $9,000, I knew my weight would be a little high because of a few rings that had cheap stones in them. Anyway, sent the package out Tuesday afternoon, received a call from them at 5:00 Wednesday afternoon with the payoff, had a deposit from them by 6:00 Wednesday evening via PayPal for $8,910. I was shocked, after I sent the package I thought to myself that maybe I should have sent only part of it in case it was a scam...it was not. These guys are for real, they are paying about 95% of spot price for scrap gold and silver...the other companies i talked to and visited locally were paying less than 1/3 of that. If anyone needs any additional info just PM me.
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| Posted: Sun Jun 13th, 2010 02:34 pm |
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3rd Post |
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Skipdawg 3T WIS 
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Interesting. I'm going to watch the price of gold a little longer but may give this a go myself later. What a great way to add to the watch slush fund. LOL I have some stuff I have not worn in probably 15 years now. So maybe.
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| Posted: Mon Jun 14th, 2010 09:11 am |
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4th Post |
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bigrustypig 3T WIS 
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This is nice to know, Nick. But I don't really have any gold jewelry except for the wedding rings. So.....what are you buying now? A grail!
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| Current time is 02:30 pm | |
| TimeTechTalk.com > Time Tech Talk > OT > Question: Selling Gold | Top |
