http://www.goldkit.com/ You just gather up your gold, mail it to them, and then send you a check. The ghost of PT Barnum must be doubled over laughing.
Sure wouldn't do that either. PT Barnum had some really great schemes and I am sure he would be a natural at doing this and I bet we would play along. Well, maybe. jeankay
Their commercials are on the TV all the time. They must be spending their fortune on airtime. Sadly they are probably convincing a lot of people to part with their gold.
I'm confused? What's the issue here? this is exactly how most coin dealers work. Are you insinuating that they just keep the gold and don't pay for it? I sincerely doubt that! Companies like that hit and run they don't run ongoing tv campaigns. Or are you saying they just don't pay a fair price for the gold? (Which I would guess is likely since the standard margin on gold is less than 10% and it is expensive to be on tv.) Registered Mail is by far the most efficient and safe method to move gold around.
You're right ~ I've obviously missed my meds. I can see how it's perfectly safe and trackable to send gold in a envelope to a P.O. Box and just sit on my hands and wait for them to send me what they think it's worth. Silly me.
I had a friend that tried that, only with the worthless junk from those kiddie vendors. They cut him a check for $15 or something like that.
Sadly, we're going to see a lot more "companies" like them. In the paper this weekend, there is a traveling "road show". I thought it was going to be a stamp and coin show, but instead, they were just buying coins, stamps and jewelry. Yikes, it's getting ugly out there.
The statement Cave Troll made is correct. There isn't a dealer on the planet that will send you a check for coins you are selling him until he gets the coins in his hands. Then he'll send you your check. That is standard business practice. So in that regard, this compnay is not doing anything unusual at all.
Last I heard they pay $240 and ounce for 14K.......I have no idea if that is avg or what, but suspect it is lowwwwwww
I know someone who tried a similar service, cashforgold or something, same principle - probably a competetor. Anyways they offered 60-65% of the melt price if you send ONLY large enough quantities, otherwise they offer 30-35% of melt... Needless to say, he sent the check back. Quite bad I would say, but you DO get your check ... I don't know what jewellers offer, don't have any jewellry to check with!
Just me, but I would never send my gold or silver to a dealer I have never met or trust. Way too many con artists out there and a fancy TV ad isn't enough to convince me they are honest. Heck, I always thought "Smilin Bob" was legit too and look how that turned out.
There are many, many web sites poping up every day now. Some may and some may not be legit but it's really difficult to tell. I would assume if on TV they are already large enough to have an attorney on staff or call, a large amount of equity, and possilby very legit. All companies must start somewhere. True they probably would offer much less than what something is worth but that is the American way to make a profit. It's just buisness. Some are probably safer than ebay. An old saying is all is far in love and war but I think they should have added Buisnesses.
I've checked out the site in the past and they never seem to give an amount to what they are paying. However, as stated, I'm sure they do pay. I'm also pretty sure it's a fraction of what you could get by going to a local dealer that will actually explain and show you how it's done. Sites like this are for the woefully uninformed but nothing illegal about it. Fortunately most of us here are informed. What's really scary is that I doubt they have many checks returned. "Joe ignorant" gets a check for $300 and is thrilled whereas if he'd done just a TINY bit of research he may have gotten $600. Want to know why it works? Go to coworkers, friends, friends who might happen to be coworkers, the average person on the street etc. and ask them what an ounce of gold sells for these days. If they tell you $300 get your wallet out! I recently told a 19 year old kid that you could look gold prices up on line and he was amazed. Cripes! He's in college from the "computer generation" and didn't think of that? Seems some of us "old dogs" still know a few things. clembo
Clembo YOU are completely right there. Although many of us on these forums knows what is going on with our monitary system or at least to some degree, many, many people on the streets have no idea. What they hear on the news is what they believe. If the news media says so, it must be the truth. Anyone read a book called 1984?
