Is the entity a Corporation that is regulated by a governmental agency such as the Department of Consumer Affairs or is it just an online outfit with a P.O. Box and no physical street address?
There are several fly-by-night companies that come up with an attractive name, toll free number, and a post office box. However, there are federal laws that require that precious metal buying companies must comply with USA PATRIOT ACT. Thus must have a physical street address and a license to purchase.
You may view our Department of Consumer Affairs license by clicking on DCA
Does the company have positive Press Coverage?
One of the best ways to know if a company is reputable and legitimate
is by verifiable press coverage. Read up on some recent publicity credits
that US Gold Buyers, Inc. has received. Click here for press coverage
Within the past year, we've noticed several imitator companies pop up and duplicate our innovative concept. Some of these companies have even received negative publicity. We all know that a company can advertise just about anywhere, however it will never receive positive press coverage unless it is genuine.
Let's face it, major newspapers and TV stations will not publish anything without careful due diligence.
Is the company truly a Precious Metal Refinery or is it just a scrap gold dealer claiming to be one?
Perhaps you have read the term "Skip the Middleman!", or "Deal Directly with Refiner!" just to find out that you are dealing with a scrap gold dealer who will pay you pennies on the dollar. Some of these dealers will even advertise higher and unrealistic prices just to lure their customers in. How can you avoid this? Prior to shipping, make sure that you contact the company and find out what percentage of the spot market that they are actually paying. If they are paying you less than 95% of the gold market price, they are most likely reselling your lot for a higher amount elsewhere.
Does the company offer free overnight shipping service?
When sending precious metals, it is important to have a tracking number and know the whereabouts of your package every step until it arrives to its destination. Packages tend to get misplaced if they are not hand delivered and signed for. For this purpose,US Gold Buyers, Inc. provides free overnight,and insured shipping to avoid any losses.
Is the company a member of any governing organizations?
JVC - Jewelers Vigilance Committee
The Jewelers Vigilance Committee was formed in 1912 to provide education and self-regulation to the jewelry industry. Members operate under the highest standards of business practice after pledging to comply with all laws applicable to the jewelry industry and make accurate representations about the products they sell. The bottom line is that when you see the JVC logo and door decal, you can rely on our members' promise to uphold the ethics and integrity of the jewelry industry through their own business practices.
You can see our membership with Jewelers Vigilance Committee by clicking on JVC
Can you visit the establishment and discuss the sale of your valuables in person or is it online only?
Not everybody is comfortable sending their valuables through the mail. Many prefer to deal on a personal level. A reputable company should have the option of accommodating clients privately and personally.
How knowledgeable and helpful is the staff addressing your needs and concerns?
Many companies hire a third party answering service that may be in a different state or even in a foreign country. The operators are trained only to take down your basic information so that they can send you a packet or a kit.
Will the company contact you to get your authorization prior to issuing payment for your valuables, or will they just send you any payment hoping that you will settle for what you receive?
It is important to speak to your representative and to confirm prior to receiving your payment. This will rectify and avoid any and all uncertainties that you may have.
Is there sufficient time to cancel your transaction?
Many online companies put a short deadline for you to send the check back if not satisfied. Many times postal mail gets delayed or even lost. When you finally receive your check, the deadline has long past and you are forced to settle on the amount that the company has sent.
How quick is the turnaround time from start to finish?
The volatile precious metal market waits for no one. Look for companies that settle in today's market and not when it is convenient.
Are the payout prices that are advertised adjusted with the market conditions or are they updated ever so often?
There are several companies that advertise very attractive but yet highly fictitious payouts. It is only logical to make sure that the advertised payouts coincide with the market prices. If the payouts are too high, ask yourself how does the company afford to cover all expenses and still profit.
These are just some very important questions you need answered before you can proceed.
We at US Gold Buyers, pride ourselves by providing our growing family of clients truly 100% satisfactory service.
President, U.S. Gold Buyers, Inc.