WOW - I just sold my old gold........

[lecach]

We went to the hotel gold place. It was Gold Buyers of America. They were paying $7.18 per pennyweight for 10K. Since USGB is paying $16.92 per pwt I think we'll ship ours off. The buyers were very nice and seemed totally trustworthy. If I hadnt done research I would have sold to them because I wouldn't have known better.

 

[Catrin]

Just found this post....

Very interesting!

I am going to see what I have ... and possibly send it out. I bet its only $100.00 dollars or so.. but better than nothing!
Catrin

 

[rluey29]

I did sell several pieces but alot of it was very cheap jewelry from Walmart that I have received over the years, twisted up or broken pieces, childhood rings, etc.

I did have two good pieces in there though. I had a large herringbone that I got as a graduation gift a long time ago, and a rope chain that was in good shape.

Someone asked me the weight of my pieces. I don't know exactly. I had weighed them about a month beforehand but I can't remember.

I got my check in about 4 days. It was very fast and easy. Here's the kicker!!! I was sitting at my computer and at the back of the desk under some papers was a bag of gold that contained alot of my weight that I had forgotten to send with my shipment so I could've gotten alot more than $1112. I will be sending it off soon

 

[rluey29]

Also wanted to say that before I knew about USGB, I had sold a .5 oz gold coin, wedding bands, senior rings, and more to a local jeweler and really got ripped off compared to what I could've gotten! I'm still kicking myself for that one!!!

 

[piratemamaof3]

there is a commercial for Cash for gold that looks so shady and Dh and I always joke about it. But... after reading this post and going through my jewelry box I am going to contact USGB and send it off, what am I going to do w/ some broken chains I never wear? I don't have a lot but it wil prob. be more than I would get at a yard sale and hey more $$ for my trip.

 

[rluey29]

Sorry, one more thing!

When I initially called USGB for Fed Ex pick-up, he did say that it had to be at least an ounce of gold to qualify for the free shipping. You can just weigh it on a kitchen scale to get an approximation.

 

[klfrech]

I took the following to my local Fedex/Kinkos for drop off today (it actually won't ship until tomorrow but it was easier for me to do it this way since I have to go to work in the morning):

10 necklaces, 5 bracelets, 2 pairs of earrings, 2 rings and 2 charms.

I sent it to USGB. I'll let you all know how I do.

 

[Karlzmom]

Sure you can buy gold at or very near spot. A good example would be to buy a solid gold coin.


The crux of the matter here is that they are paying a small fraction for gold that they're going to melt down and sell at the spot rate. I don't begrudge them running a business, but it's my business to watch out for my money, and that includes not selling something for a small fraction of what it's worth.

These companies are taking advantage of a high gold price as well as a falling economy. Like I said, it's a business, and more power to them if they can get away with it.

I believe that was my point, that each type of gold; coins, bullion, etc will have a different price point as it relates to spot. I haven't ready much about anyone on the board asking about how to ship their maple leafs to a company and get $$

Of course its up to each individual to be aware of what the prices to be had are...if a person doesn't like the price, move on....doesn't mean the company are crooks...

 

[d4est]

So, with USBG, the turn over is pretty quick? I've scrounged up 2 3/4 ounces (kitchen scale), but some have stones, so the gold would be less. It's stuff ranging from 10-18k. Is it worth sending in? TIA!

 

[*KeepMovingForward*]

So, with USBG, the turn over is pretty quick? I've scrounged up 2 3/4 ounces (kitchen scale), but some have stones, so the gold would be less. It's stuff ranging from 10-18k. Is it worth sending in? TIA!

Last year from the time I sent in to USGB to the time I had my check in hand was I believe 8 or 9 days. It took about 5 days to get my check from the time they gave me my payout quote, but that was inclusive of the weekend.

 

[klfrech]

From what I have read on this thread (and I haven't read all 150 pages) what you have is definitely worth sending in.

I went to my local jeweler yesterday with 3.3 oz of a variety of gold items (14k and 18k). He was willing to give me $1,000. From all the information I've gathered here, USGB pays much higher.

 

[d4est]

Thanks for the replies. It's all stuff that's broken or hasn't been touched in 5 or more years. It's goin....

 

[d4est]

One more question...what if I don't like the payout quote? Do you have to go through with it?

 

[rluey29]

One more question...what if I don't like the payout quote? Do you have to go through with it?

no you don't. They'll call you after they get a quote. If you don't like it, they send your stuff back. Even if you accept their money, you have 14 days to change your mind while they hold your items.

 

[umaangel00]

I don't think I am going to go through with it. I only have 2 rings I can sell. My mom informed me that she would kill/disown me if I got rid of the class ring SHE paid for! So I doubt I would get more than 50 bucks for what I could sell. I dont' even think the 2 rings would come out to an ounce. I don't have any way of weighing them. Bummer.

 

[Shmily1]

I just called USGB. They asked what I was sending and did the gold weight atleast as much as 10 pennies. Then he said they only take diamonds over 1 ct. so they would take mine out and return it. WT? !!! GF will buy the whole thing and any diamonds over 1/4 ct. Now what to do?? Which way am I better off?

 

[klfrech]

Does anyone know how long it takes to get an offer from USGB? My shipment will be received tomorrow and I was wondering how long before I had an offer. Will I get a phone call or an email?

 

[kpadalik]

Okay, I really don't want to go through 138 pages of posts, so can someone give me a quick rundown on this gold-selling thing? Where is the best place to sell it to? I have a ton of gold necklaces, bracelets, rings, charms, etc. that I haven't worn in years. Where can you get it weighed if you don't have a kitchen scale? And how much can I expect per ounce? TIA!

 

[klfrech]

Take it to a local jeweler and have it weighed. Have them make you an offer.

Historically, USGB has offered substantially more. I sent some things yesterday (2 rings, 2 charms, 2 rings, 5 bracelets and 10 necklaces) to USBG. Total weight was about 3.5 oz. My local jeweler offered me $1,000 (very low). I will post here as soon as I receive an offer.

You really need only go back a few packages to get lots of your questions answered.

 

[*KeepMovingForward*]

Does anyone know how long it takes to get an offer from USGB? My shipment will be received tomorrow and I was wondering how long before I had an offer. Will I get a phone call or an email?

Usually they call you the day they receive the package. It may be late in the day, but you should hear from them then.