Selling Scrap Gold - Consumer Education from Empire Gold Buyers
When you decide you want to sell gold for cash, one of the most intimidating things is learning the important information about gold buyers, the value of gold, and how the gold buying market works. For unfortunate but obvious reasons, the precious metal resale market attracts many scam artists, so you should never work with any gold buyers until you have educated yourself enough to be sure you are getting the real deal. This means being sure of the reputation of the gold buying company you are considering working with as well as making sure that you know what the current value of gold is.
Precious metals companies are required by law to comply with the USA Patriot Act, have a physical address, have an anti-money laundering program, and hold a license. If you are dealing with a company that fails to meet these three standards, it is likely just a pawnshop rather than a genuine precious metal company. Don't be afraid to ask to see licenses. You also want to work with genuine precious metal refineries—if a company offers you less than 95% of the market value of your gold, they are probably a scrap gold dealer rather than a refinery. When choosing between gold buyers, experience counts. A company that has been in the gold buying business for many years will provide better service and security. Empire Gold Buyers, for example, has 25 years of experience buying gold.
Ask prospective buyers how your items will be shipped and stored for maximum safety. Good gold buying companies provide free insured overnight shipping both ways (in case you end up deciding to keep your items), and be able to provide a detailed explanation of security processes once the gold and jewelry have arrived. In addition to top security, Empire Gold Buyers assigns every shipment with a tracking number that allows us to easily keep track of it as we go through the gold buying process.
Reputable buyers will provide timely payment for your gold and jewelry valuables. At Empire Gold Buyers, we will always contact you and make an offer before paying you and taking possession of your items, in case you are unsatisfied with the offer. If you decide to keep the items, we will ship it back to you for free. We initiate the payment process within 24 hours of when you accept our offer. You have a choice between being paid by check and direct deposit.
You should also get an offered price that is consistent with the current market value for gold. We recommend that you check the current value of gold using an independent source like CNN Money before selling your gold items. If an advertised price seems too high to be true, it probably is.
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Selling gold and jewelry is an easy way to make money from things you already have. With Empire Gold Buyers, you will always receive a fair valuation from a reputable precious metals company. Contact us today to get a cash offer for your gold.
How many years has the company been buying gold?
When you're looking to sell your gold, experience counts. Companies with many years buying gold are most likely to provide the best customer service and the most secure processes for protecting your valuables. You also want to be sure you know how long the company has been buying gold - not just how long they've been in business.
A 30-year-old company who only recently starting buying gold, for example, should not be your first choice for selling your gold. With 25 years experience buying gold, Empire Gold has the knowledgeable team and experience you need to get the best prices for your old gold and jewelry.
Is the company a true precious metals business regulated by a government organization?
Many gold-buying companies with toll free numbers and P.O. boxes look like reputable precious metals companies when they're not. Some are little more than pawnshops, which often offer poor customer service and frequently engage in questionable business practices that put your financial information at risk.
You always need to be sure you're dealing with a genuine precious metals company. Federal law requires companies that buy precious metals to comply with the USA Patriot Act. By law, they must also have a physical address. When selling your gold, do not hesitate to tell a company you would like to see their license. You can view Empire Gold's license here.
Is the company a genuine precious metal refinery?
Companies wanting to buy your gold often claim to be refiners when they really just deal in scrap gold.
One telltale sign of scrap dealers is they pay pennies on the dollar. Unless a company pays you at least 95% of the true market value of your gold, they're probably a scrap gold dealer reselling the gold they buy for much more money.
Empire Gold is a real precious metal refinery. We melt down the gold ourselves and our parent company purifies it for us. Since the entire process stays in-house, we can pass the savings along to you and pay you close to the full gold value of your items - 96% of the true market value!
Does the company have an anti-money laundering program?
Companies that buy jewelry are required by federal law to set up an anti-money laundering (AML) program. Noncompliant companies face heavy penalties. To safeguard your valuables, be sure to ask any company for evidence of their AML program before you entrust them with your valuables. Empire Gold's AML program follows all federal guidelines and is available for customer review on request.
Can I ship my items using free overnight shipping?
When you're selling your gold, the last thing you need to worry about is how to ship your valuables and how much you should pay.
When you complete our online request form, we send you an insured overnight FedEx envelope FREE. Simply place your valuables inside and mail the envelope. Empire Gold takes care of the rest.
If you later decide you don't want to sell your gold after all, we return it to you by insured overnight FedEx - and you don't pay a dime. We're so pleased you consider working with Empire Gold, paying for all of your shipping is the very least we can do.
How does the company safeguard the security of my items?
For precious metals companies, few responsibilities are more important - or fraught with risk - than the safekeeping of a customer's valuables. When you're looking at companies to buy your gold, you should always ask them to explain their security processes for safeguarding your valuables.
Empire Gold begins safeguarding your old gold and jewelry the moment you place it in our FREE insured overnight FedEx envelope. FedEx securely transports valuables around the globe, and the insurance we buy covers valuables up to $25,000 in value. If your items are worth more, let us know and we'll get additional insurance for you - at our cost.
When we receive your shipped gold, we assign it a tracking number so you can always know exactly where it is. From the moment we weigh your item on our certified scales to the moment we buy it or return it to you, you can always know your valuables are exceptionally guarded and safe when they are with Empire Gold.
Does the company have an office where I can bring my items and speak to someone in person?
Many questionable companies don't have a physical office, which not only violates federal law for precious metals companies but also inconveniences some customers. While most customers completely trust our FREE insured overnight FedEx shipping method for their items, others prefer to hand deliver their valuables. Some customers also like to work with our team of professionals in person.
If you prefer to visit our offices, we work By Appointment Only during our normal business hours.
Empire Gold Buyers
40 Wall Street 28th Floor
New York, NY 10005
between the hours of 9 am - 6 pm Monday through Friday except major holidays. You may want to call ahead first to be sure someone will be available to help you. But drop-ins are always welcome. You can call us toll free at 1-888-949-3674 and one of our experienced professionals will be happy to help.
How knowledgeable, experienced and friendly is the company's representatives?
To customers, employees don't just represent a company: they are the company. No one understands that better than Empire Gold. We don't outsource our customer service duties to phone banks or send you through a maze of voice mail. When you call Empire Gold at 1-888-949-3674 during business hours, you get a real, live person who can actually help you.
We invest in our employees like you invest in your gold because we know they're a key reason for our success. Our team of professionals has demonstrated precious metals and customer service skills. They have the extensive knowledge and experience needed to answer all of your questions and get you the best price for your gold. Plus, they just happen to really like what they do. When you work with Empire Gold, you just always receive fast, friendly (and knowledgeable!) service.
Am I obligated to sell my items when I ship them for evaluation?
Before shipping your valuables to any company, make sure that doesn't obligate you to accept any price they offer. Questionable companies may stipulate in the fine print of their terms and conditions that simply shipping them your gold or jewelry is an implied agreement on your part to accept any amount they offer - no matter how low. So be careful!
At Empire Gold, shipping your items to us for evaluation is just that - an evaluation. It is never an obligation to accept our offer. When we receive your item, we evaluate it the same day and call you immediately with the price we'll pay. If you decide to keep your item, we ship it back to you the same day.
At Empire Gold, we go out of our way to make you our next satisfied customer!
Will the company call me first with the price they are willing to pay before sending me a check?
It's not uncommon for gold-buying companies to receive your shipped valuables and send you a check without checking with you first to make sure the amount is acceptable. By the time you receive your check, it can be very difficult, if not impossible, to refuse the amount and get your item returned.
At Empire Gold, we evaluate your old gold or jewelry the same day we receive it. When we decide on a price to pay, we immediately call you on the telephone and make sure the amount is acceptable before we pay you anything. If you decide to keep your item instead, we don't pressure you, grumble or complain. We just ship it right back to you - at our expense.
At Empire Gold, we treat our customers the way we want to be treated - with kindness and respect.
If I ship you my gold and then change my mind about selling, do I have to pay anything to have my items returned to me?
Many companies have restrictive policies for returning items when customers change their minds about selling. Sometimes, they force customers to pay for the return shipping themselves.
Empire Gold is different. If you ship us your old gold or jewelry but change your mind before you've been paid, we gladly return your item to you - no questions asked. That's just one we do our best to keep you satisfied so the next time you need to sell your old gold, you think of Empire Gold first!
How soon will I be paid?
Questionable gold-buying companies can take several days and even weeks or months to pay you for the items you've sold them.
At Empire Gold, we know your time is just as precious as ours. That's why we initiate the payment process within 24 hours after you accept our offer, whether that means mailing you a check or making a direct deposit into your bank account. We know the sooner you get your money, the happier you'll be and when you're happy, so are we.
Do I have a wide range of payment options?
When you sell your old gold or jewelry to Empire Gold, you can choose from a wide variety of payment options. We can pay you by check, PayPal, MoneyGram, Western Union or a direct deposit into your checking account. Just let us know which payment method you prefer, and we'll pay you the same day you accept our offer!
Are your rates reasonable?
When you want to sell your gold, the first thing you should know is the true market value of gold at the time you are selling. CNN Money's website is a good place to look - especially because it's not affiliated with a precious metals company.
Once you know what gold is going for on the market, you'll have a better idea of what price you can expect for your old gold. Many questionable companies advertise payout prices that are so high, they sound too good to be true - and they usually are. It's not uncommon for companies to advertise one rate and pay you another, so beware.
Empire Gold's rates are always close to the going market rates for gold so you always know you are getting the most money for your valuables
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