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

[sunnyday123]

After reading most of this thread I requested a mailing pack from Goldfellow last week. I gathered up what I had in my jewelery box and am ready to send it in. My one question is this...will we have to claim this as income on our taxes next year if we get over $600? Will these companies be sending out 1099's? Not that I'm particularly expecting that much but just wondering, especially for those that have received very large amounts of money?

that's a very good question. Now I am worried. Hope someone with some smarts ( not me!) knows the answer to this!!!

 

[tinatark]

that's a very good question. Now I am worried. Hope someone with some smarts ( not me!) knows the answer to this!!!

They shouldn't.

The company is purchasing your jewelry.

 

[momtosam]

So I mailed my package in to USGB last Monday and it was received Tuesday. No phone call yet! Does this seem right? Should I call?

 

[Diabolicdesire]

Just wanted to post this for anyone interested in selling their gold in the Raleigh, NC area.

I went to the Flea Market today and there is a coin shop there that buys gold. I had him price out my scrap 14k gold. His scale showed mine weighed in at 14 dwt and he offered me 233.00. So if my math is correct that is 16.64/per penny weight. I didn't take it cause I couldn't remember what Gold Fellows was paying and I wanted to make sure I was getting the most I can. So, I checked now that I got home and he was definately offering more. He also said if gold goes up he can pay more. I'll be going back to him to sell for sure.

 

[abeyst]

USGB will take up to a week to call you if they're busy - no need to freak out if you don't get a call in 48 hours. Just check your airbill to make sure they received it and then wait.

I'd rather have them appraising gold than answering phone calls.

 

[StephMK]

Wow! Goldfellows was quick. I mailed Wednesday, it arrived today, and I accepted a settlement of $187. I sent in 4 light chains, a small link bracelet, three little charms, and 3 10k rings. I do feel a little bad getting less than my parents spent on the high school ring I sent in. But my high school memories are so bad, I'd rather have the money. DH is now getting the 16gb iPhone for his birthday!

Thanks for posting that! I had kept my HS ring out of the package but you're right. I need the money & the memories weren't that great! My college ring I wouldn't give up or but that HS ring can go. Very sweet that you're spending it on DH. I hope to get a nice settlement and pay off a cc.

Someone earlier had posted that real gold won't be picked up by a magnet - is that true? I have a piece I thought was real that can be picked up & some that can't but the clasp can. Just wondering what I'm sending them. It's still stuff I don't use so might as well see what they say.

 

[disneydreamin247]

So I mailed my package in to USGB last Monday and it was received Tuesday. No phone call yet! Does this seem right? Should I call?

My package arrived last Tuesday too. I called (twice!) and they said Monday! (first they said Friday, so I called them back on Friday and they said Monday)

 

[tinkntraining]

After reading most of this thread I requested a mailing pack from Goldfellow last week. I gathered up what I had in my jewelery box and am ready to send it in. My one question is this...will we have to claim this as income on our taxes next year if we get over $600? Will these companies be sending out 1099's? Not that I'm particularly expecting that much but just wondering, especially for those that have received very large amounts of money?

I don't think so -- it would be similar to someone buying an item of yours at a public auction for over $600 (which happens all the time here in PA ---) and I've never heard of a 1099 being issued for that. And, after I thought about it more, what we got from USGB is most likely LESS than we originally paid for all of it (with the high mark-up on jewelry) so I think if you have a savvy tax preparer, you might be able to consider the sale as a capital LOSS! How cool is that???

 

[tinkntraining]

So I mailed my package in to USGB last Monday and it was received Tuesday. No phone call yet! Does this seem right? Should I call?

If you're as impatient as I was, you might want to call. I waited until after 48 hours from the time they received it and then I called. They told me initially, that I should hear something in the next 2 days -- then, magically, they called back in 20 minutes with a quote. I didn't mention my name when I called, so it must have been a little "pixie dust" that made them call me so soon!

 

[phorsenuf]

Someone earlier had posted that real gold won't be picked up by a magnet - is that true? I have a piece I thought was real that can be picked up & some that can't but the clasp can. Just wondering what I'm sending them. It's still stuff I don't use so might as well see what they say.

I would love to send some stuff in but I don't know what's real gold and whats not. Does the magnet test really work?

 

[billnang]

When I called I told them I just wanted to be sure it arrived...so they checked the tracking and said it arrived and I should hear today or tomorrow, and I heard back in 20 mins!!!!

This was last Thursday and they received it on Tuesday...

Angela

 

[nextbigloser]

I am really excited to try this. I have to start digging through all of my old stuff. We have our first Disney trip scheduled for Xmas of this year. It is a surprise trip for the kids. I sure could use the extra cash. Here is a question for everyone. Have any of you went to second hand shops and or pawn shops to buy old, used jewelry to send in? I am not sure how much I have but thought about doing a little shopping to see if I can find any steals.

 

[8disneyfans]

Could you please tell me how you shipped your gold to usgb??? Did you have to pay for the FedEx or do they pay it for you? I am ready to try this...I am so excited!
Last Poster:I also thought about going to second hand stores and check out some garage sales this spring to see what I could find. Maybe it could be a good way for a stay at home mom to make a little extra Disney cash!!!

 

[tinkntraining]

It's super easy! Got to their website www.usgb.com (i think) and follow the directions. From my memory, the first step is giving them your email address and they send you an email with all the info. They pay for the Fed ex shipping (in the example, it shows their account number to put on the envelope). Just FYI: if you have access to fed-ex envelopes and a drop off spot, you don't need to call fed ex to schedule a delivery. Just fill out the packing slip just like the example USGB gives you, tear off the top copy, and drop it in the fed ex box -- then watch for it to be delivered. Really, they couldn't make it any easier!

 

[AlwaysEeyore]

I sold my gold to a local guy on Saturday and got $350 for 1.1 ounces of mixed 14 & 10 kt gold. He didn't separate it but I was happy with the extra money and I got it in cash on the spot.

 

[Taja]

After reading all this I am soooo excited!!! I have decided to go with USGB. I requested the package. Here is my question...do they actually send me something or do I package it up myself and send it? I don't have much, so I am hoping for $200.00. Thanks so much for all this info.

Go to the USGB website. You'll see a button on the first page. Click on it and it will give you instructions. You'll need a basic list of what you're sending when you complete the form. I didn't have a list handy when I did it, so I just said "14K jewelry weighing approx. 3.2 oz. by postal scale." I'll provide an itemized list with photograph when I send it.

The instructions tell you how to package your items and shipping specifics. They'll pay shipping if you use their account number.

I'm still looking for some charms and a charmholder from the late 70s/early 80s that are floating about some where. Then I can send the package!

 

[Luv2trav]

I have a couple rings with stones in them. Do you take the stones out before you send it in or do they buy these too?

 

[4theloveofdisney]

that's a very good question. Now I am worried. Hope someone with some smarts ( not me!) knows the answer to this!!!

They didn't ask for social security numbers so I wouldn't worry about it.

 

[4theloveofdisney]

I have a couple rings with stones in them. Do you take the stones out before you send it in or do they buy these too?

Way back in this thread someone stated they asked that question and were told if the stone is over a certain size they will buy it. If not, they discard them. Either way, I would remove your stones yourself.

 

[8disneyfans]

It's super easy! Got to their website www.usgb.com (i think) and follow the directions. From my memory, the first step is giving them your email address and they send you an email with all the info. They pay for the Fed ex shipping (in the example, it shows their account number to put on the envelope). Just FYI: if you have access to fed-ex envelopes and a drop off spot, you don't need to call fed ex to schedule a delivery. Just fill out the packing slip just like the example USGB gives you, tear off the top copy, and drop it in the fed ex box -- then watch for it to be delivered. Really, they couldn't make it any easier!

Thanks so much!!!! I can't wait to see what I get. I did get the info via email. Going to drop it off later this afternoon.