Do people really have unwanted gold, silver or platinum?

I assume it is a scam.

We have your stuff now, cash the check for 10 dollars and STFU. Commercials aren’t cheap and that money has to come from somewhere.

Take that gold, silver and platinum to your local jeweler’s. You’ll get the value of the metal by weight. Buying good jewelry is expensive; selling it is a joke.

I was thinking about this in the drug store this evening; they had a display of “As Seen on TV” items as Christmas gifts—the pedicure egg, the thing to groom pet’s toenails, the things you put on the bottom of your feet to draw out toxins, and I couldn’t help but think, what a great country this is! Only in America could the words “As Seen on TV” give something credibility.

it’s probably stolen loot give me anything and thats more than I invested, melt it down and the evidence is gone. It’s all good unless your house has been robbed. I wonder how many kids have sent their moms jewelry in. Sorry.

I have wondered the same thing.

Similar post but not much info!

I actually do have unwanted gold and silver (no platinum, though). I’d never in a million years send it to some random company through the mail.

I’m guessing that if these companies actually do send you cash, it’s probably for a really understated value. So the companies basically are winning no matter what.

I really can’t help but wondering who, in their right mind, would pack up their gold, silver, or platinum, put it in an envelope and cross their fingers that they get some money back for it. But there must be people who do it or these companies wouldn’t be in business. These are probably the same people who pore over the displays Alfreda mentioned. They must have a house full of Chia-pets, George Foreman grills, Clappers, Space Bags, and Flowbees.

And don’t forget the Nigerians. (As if I could, given the mail they send me. I guess that they think I am having a good hair day also.)

There’s always a desperate person needing money. The free market dictates that the store obviously turns a profit as it exists. The always entertaining Rob from Cockeyed did an investigation into one of these companies: read his report.

Great answer Dynamic! Thanks for posting.

A search of the internet will reveal that these gold-buying companies pay a very small fraction of the real value of precious metals sent to them. Some pay as low as 5%.(That’s five percent, not fifty percent!) A much better option is to go to a local mall and get prices from the several jewelry stores there and accept the best price offered.

I would go to a reputable dealer, a coin dealer maybe to sell silver or gold. I found a sterling silver bowl at the Goodwill, it had apparently slipped through their screening process, paid 3 dollars for it and took it to a coin dealer who weighed it and gave me a good price, according to the value of silver at that very moment. He has to make a living to, so he made some profit on it, but I sold my 3 dollar bowl for 76 dollars. Not a bad profit. And yes, I donate to the Goodwill too, but a girl’s got to make a living.