To sell gold to an online gold buyer, consumers need to have a certain degree of confidence that the transaction will be completed honestly and swiftly.  And, while a quick, safe and secure cash for gold transaction has always been the mission of GoldFellow®, we’re always extra pleased when a customer lets us know we’ve exceeded their expectations.  It seems, in blind testing, GoldFellow®’s gold buyers’ honesty and integrity once again shone through!

We’re very proud of an email we received today from a woman who decided to sell gold to GoldFellow® earlier this week (January 10, 2011).  Below is the text of the email but to protect our customer’s privacy, only her initials are included.  It should be noted GoldFellow® does not provide a forum for comments nor do we solicit testimonials.  Each and every testimonial on our website came unsolicited from satisfied cash for gold customer.  That so many people took the time to let us know how pleased they were with their transactions speaks volumes and is not typical of companies in the cash for gold industry in general.  At GoldFellow®, we focus on buying gold the right way while maintaining open communications and treating customers with respect – and we let our superior customer service and high cash for gold payouts speak for themselves.  But, when we receive an email from a customer who was testing the skill and honesty of our employees and the integrity of our word – and was so pleased with our performance she just had to tell us – well, this was a gold seller email we couldn’t keep to ourselves!

Below is the actual gold seller’s email:

“Thank you so much for your generous settlement.  I appreciate your integrity and the speed in which you worked.  I did not mention the higher quality of the gold, I figured this is your business, and this would show in your settlement figures, and would be the beacon that would shine with your honesty.

It has been a pleasure doing business with you.  If everyone had the integrity you have, wouldn’t we live in a greater society?”

Though we’re delighted the consumer who chose to sell gold jewelry to GoldFellow® was appreciative enough to write this email, the customer’s comments raise questions about the perception of honesty and integrity in the cash for gold industry in general.  We’ve seen how a few companies have garnered significant media attention for their misleading business practices and low gold payouts.  And, unfortunately even honest gold buyers get tainted when that occurs.  But, GoldFellow® is one of the few cash for gold companies recommended by CBS News in a special consumer report – and we’ve been recognized by the Better Business Bureau with an A+ rating.  It has always been part of GoldFellow®’s mission to bring best practices to the cash for gold industry.

Some consumers looking to sell gold are not as aware as the gold seller above as to the quality of their gold and what they should expect.  You see, there is no magic to testing gold.  Gold can be tested by acid, using electronic testers and even via an XRF Spectrometer which analyzes the gold content of metal.  It is rare when the actual karat of an item comes into dispute.  Plus, gold jewelry is required by law to have a quality mark (like 14K on 14 karat gold jewelry) and a manufacturers hallmark or logo.  Yet it has come to our attention that some online gold buyers value gold at a lower karat gold than they actually sent, thus paying lower prices.  An example of this would be paying 10K gold prices for jewelry that tests to be 14K.  It’s no wonder our customer was concerned about the correct valuation of her 21 karat and 22 karat gold items – and why this gold seller was so pleased with GoldFellow®’s honest valuation and transaction!

When you want to sell gold, how can you know your gold buyer is honest?  Follow these tips for selling gold jewelry safely and easily online from GoldFellow®’s customer service team.  Remember, you are selling YOUR gold.  First, know what you have before you ship your gold to anyone.  You can see karat markings on your jewelry using a magnifier.  And, you can weigh your items on a jewelry scale set to pennyweight which is the unit of measurement used by most cash for gold buyers.  If you can do so, keep a record the weight and karat of everything you send to the cash for gold company.  Second, only sell gold to a gold buyer which posts the prices it pays for scrap gold by karat every day on its website so the scrap gold prices you are being paid can be verified.  Next, always insist on selling gold using free insured FedEx® shipping so your package can be tracked.  Also, make sure you obtain a written cash for gold settlement (valuation) of your unwanted gold and compare it to what you sorted and weighed yourself.  Then, if there is a significant discrepancy – which is possible if some items you believed to be gold turn out to be costume jewelry, gold filled or gold plated which most gold buyers do not purchase or if your scale is not properly calibrated – call the company and ask them to review your settlement with you.  If they cannot be reached, don’t return your call during their normal business hours or are unwilling to review your gold envelope contents with you, ask for your gold back!   Everyone can make an error now and then – but honesty and integrity is something GoldFellow® practices every single day.  Cash for gold sellers should not expect anything less than total honesty in their transactions.