Selling scrap gold. Any experience with www.greenforgold.com?

[zeebob]

I have three old wedding bands. These are plain bands and are just scrap gold that have been hanging around the family for years. We want to sell them.

 

Found www.greenforgold.com online? Any one have any experience with them?

 

I got their submission package which includes a plastic padded envelope and a form for my name and address (supposidly to mail my check to).

 

The www.greenforgold website says "GreenForGold.com is a service of Ralph Alexander Inc. of New York City." And a quick hop to the Better Business Bureau site (www.bbb.org) shows they have one complaint in the last 12 months (none in the 12-36 month time frame).

 

The address on the mailer they sent me for the rings reads:

 

Royal Victorian

PO Box 230153

Brooklyn NY 11223-9903

 

Before I mail off the 1/3 oz of gold I'm hoping to find at least one person that might know of this company (either positive or negative).

 

Or if you have a better idea of where I could sell some scrap gold I'd be happy to hear it. I tried a local coin shop (Excelsior Coin Gallery) who has bought a few Au nuggets from me before and who has sold me a number of books and coins, but they won't buy rings. The coin shop says they buy scrap gold, but they say they won't buy jewelery because there are special laws that apply. I guess I could wait for the next coin show in the area...

 

Any ideas?

 

Thanks,

 

Bob

[conqueror]

Here in the west coast we would sell it to any asian jewelers that make and sell 24k jewelery and they'll offer a fair price.

John

[MunkyMan95]

Why not try The Gold Kit? www.GoldKit.com

[PerryHall]

I would just wait until the next local coin show and save yourself the cost of postage and insurance.

[DC Dawg]

If all else fails, check with the Secretary of State for New York. They keep a good list of companies that have had problems that required legal intervention. If the company has been sued or other actions taken, they will know.

 

Scott

[xJack]

Looks like those guys pay about 70% of melt for 14K - you can do better, even on small quantity.

 

Check with some of your local coin and antique shops.

 

edit: Was referring to goldkit in the above statement.

[fhcoins-migration]

SOmethings not right here. If you read the legal dislaimer his company pays no more than 96% of melt and the current quote on his site is 97%+. He will only pay 96% if you have 2 oz of 10k etc. His quotes are super high and something is very fishy. 670 per oz spot x .583 (14k gold purity) = 390.61 per oz as being melt. Read the legal liability for his liability for lost items. I hate legaleeze but looks like a lt of wriggle room. We buy a lot of scrap gold from other dealers etc and we get roughly 96-98% of melt when we ship it. Thats from a huge outfit and I have never heard of this guy. Maybe he has "magic" scales.

[bsshog40]

This would be kind of interesting if there was a decent place that you could sell old gold rings and stuff. I've been hanging on to a 14k ring with diamonds and Real saphires in it. I paid a good bit of money for it and pawn shops are the worst for selling these by far. I just keep it with a few other rings I have in a jewelry box. I haven't worn any of them in a few years.

[jtryka]

I don't know about either of these outfits from dealing with them, but I have seen a lot of ads on television over the last few months for the goldkit. My guess would be that to fund such advertising, they are probably not going to offer the best prices (just like buying coins from TV ads). Fortunately I've never had to deal with this question since I only have two pieces of gold jewelry, my college ring and a watch from my great uncle, neither of which I plan to sell. All my other scrap gold was manufactured by the US Mint, and I know I can get better than melt for those!

 

Good luck whatever you do!

[zeebob]

IMade up my mind to just take them to the next coin show. I tried a local coin shop but the guy won't touch jewelry (says there are "special" laws). Whatever...

 

I did notice a "we buy gold" sign on a jewelry store a few days ago. I may check that out as well. I know the weight and karat marks (14K and 18K) and can compute the Au content.

 

Thanks for pointing out the 96% and 97% and TV overhead. It all seems a little fishy to me too.

 

Bob

 

[xJack]

Depending on your locale, there may very well be special laws. Where I live all jewelry sales are required by law to be reported to the head detective for our County. Coins are not reported at all, or very little.

[Ikedirt-migration]

This may be a bit late, though, my experience with GreenForGold.com was a pleasure from start to finish. A gentleman named Elliot assisted me with some gold nuggets that I had purchased about 20 years ago. I was also a bit surprised to find conflicting addresses between what was on the site and what was on the kit. I called to inquire about it, and Elliot explained that the company was making some changes. So what the heck, I mailed it away and again to my surprise someone called me with a full evaluation summary within 2 days from placing the mailer in the the postbox. I bought the nuggets as 14K and yet another surprise, they actually informed me that they were 18K, so I was paid more than what I was expecting. The money helped pay the AT&T family plan so all in all I was happy and satisfied.