Where to part with your gold...

[jcham]

Sell it all except what others may like and want, God willing If I am lucky as I have been no more hording for me.

Sell and do something good for my family, I gave my entire collection to my son. It's much bigger than the one my dad gave me and I feel good about it so unless something unique comes up it's all getting sold and the money goes to them or if I need something to further my hobbies. Gold and silver to them means nothing so they can use the money to get something good for themselves for once.

Learned it the hard way but a lesson I'll never forget...... Good post.... I still like Midwest....

Jamie

[creek hunter]

check them out and then decide. JMHO

[mham2]

I sold about $3000 to them this summer,ended up they were close to my son in Dallas and when I was visiting my son I hand carried some gold into there refinery .got to see the operation first hand and was treated very nice.I had the gold weighed out ahead of time and they were real close.

[JBird]

Great post and good to see all the positive feed back. Now maybe I'll get to use them one day.

[OZ_IL]

http://www.walletpop.com/blog/2010/0...ing-your-gold/

No surprise:
As numerous sources have reported, Cash 4 Gold consistently lowballs its customers, sending checks for -- at most -- a third of the actual melt value of the gold.

[goofy]

Originally Posted by Drosera

I'll take my chances with cash. Although I'll hold onto my gold a bit longer as I think there is still some upward movement in the price of gold. People are hoarding gold now as they are paranoid about the economic collapse, and companies selling gold are playing up these fears. But once the economy stabilizes the price of gold will drop and the gold hoarders will have lost money.

I'm not naive enough to think that it is impossible for the economy to collapse completely. But people have been proclaiming the sky is falling since the beginning of time. I don't think we are close enough to that point to worry.

If i find a ring and i hold on to it and the price does drop.I really have not lost anytihng,yes i could have gotten more but its the thrill of the hunt to keeps me going back...

[Spm673 (The Jersey Digger)]

Thanks for the site link. I learned alot. I too joined via Facebook. I hope I get that coin...LOL

[OZ_IL]

Pictures represent best case scenarios. It all comes down to how much of the hallmarked stuff is real.

I only have one 18K item and the ring (sans missing center stone) looks to nice to melt down.

ARA only pays 90% on silver and since I was sending in the gold, figured why not. The few extra $ I may get for silver melt would offset the gas or postage needed for a better percent payout. The one coin (Washington silver quarter) is beat to all hell so it is off to be smelted.

Postal clerk was not happy as I didn't put enough tape on the box. Luckily post office traffic was light so she did it on the spot instead of sending me home to have it done correctly (like 99.9999% of the box being taped LOL).

*** ARA called up and informed me they do not send fake items back but melt them as scrap so I have to trust they are honest. I do have another weight somewhere that excludes what I think is fake but of course cannot find it D'OH.


Silver (all on scale should be real)


10K (about 20.45 grams should be 'real' 10K)


14K (about 41 grams should be 'real' 14K)



Finally got the checks. It seems they cut a separate check for the silver and the gold. The silver came out very close to my estimate, in fact a few $ over. Seems I did a good job of just weighing the real stuff for the photo. I had 3 fake bracelets so they fake silver just as much as they do gold.

Gold was around $112 short but I had quite a few fake pieces so the price is actually higher than I thought for what I thought was real, but lower than if everything was real.

Ended up taking 11 days to cut the check, 16 days overall from when they had the package delivered to the checks reaching me.

[jbell1954]

I have sent gold to Midwest The first time was good. The second time was light. Third time was only 1/2 the gold that I sent call them to find out why. They said that was all that was sent. rip off. I send all the gold I find now to ARA they have been right on and they send my stones back. I have not been Rip off from them Good to deal with.

[Dustyloins]

Yup, I got my check back a couple of days ago from ARA. No problems with them at all. They have my future business!!

Dusty

[BlueDuck]

Thanks for the tip. I already learned something..

[DIG]

If you want you can have the refineries send you what they call "golden buckshot". Which is 999 gold after assay. Put that in your safety deposit box and sit on it until the price goes up.

[Dustyloins]

ARA will hold your gold until (if/when) the price is best to you.........

Dusty

[AJD]

Did you know you can get a tax write off on your hobbie! talk to your accountant when you get your tax's done this yr.

[LostNowFound]

Originally Posted by Cfmct-PI

http://goldeducator.com/index.php/materialtypes

Thanks for the link. A good site for understanding the price of gold.

[boxing63]

This was great info Craig... Thanks

[biliff1]

Cool site, Thanks!

[Rudy]

Originally Posted by AJD

Did you know you can get a tax write off on your hobbie! talk to your accountant when you get your tax's done this yr.

There is no free lunch I'm afraid. The IRS rules for determining wether it is a hobby or a business (you can't write off the first, only the second) are pretty hard to meet. http://www.irs.gov/newsroom/article/...169490,00.html

[jim42]

Great site lots of useful information

[emfederin]

Originally Posted by AJD

Did you know you can get a tax write off on your hobbie! talk to your accountant when you get your tax's done this yr.

Hmmm...not sure how that would work....

But even if true, I'd be wary. It might incite those morons in washington to start taxing our finds!