How Can Consumers Find a Refinery That’s as “Good as Gold”?

When shopping for jewelry, you probably wouldn’t pick the first ring or necklace you see. It’s a process. You want to examine the different styles, shapes, and materials that go into them. There’s often a desire to compare and contrast items with each other, and visualize how they’d look with a particular outfit. If it’s for a proposal or gift, you would certainly want to take more time to choose something that’s of the highest quality.

Ironically, few individuals make such an effort when it comes to locating a suitable and trustworthy refinery. And it makes sense – they’re behind the scenes. However, things can go wrong if you choose the very first company you see. Therefore, it’s important that you exercise patience and keep a critical eye when you need to look for the right gold refining company.

There are many reasons to have gold and other precious metals refined, and there is a process involved. You don’t want to lose value on an item, or waste time because you went to the wrong people. So proceed with caution and remain on the lookout for trouble signs!

The “R” Word

Unfortunately, we live in a world where things can be described with a dreaded “r” word. It’s not an obscene word in itself, but its implications can carry feelings of frustration and disgust. That word is “ripoff”. Go online, and you’ll find tons of links which invite you to click on sites that promise “too-good-to-be true” deals. Take a walk through a city street and you’ll probably come across a store selling items for an exorbitant price – a price that’s perhaps triple the actual cost of the product! It truly is a shame to see.

There are gold refiners who fall into this category as well. In fact, some of the most notorious scams that frequently flag the legal radar are those that involve the buying and selling of precious metals. It’s grown into such a problem, that there are now categories which have been created to label different types of scams and fraud.

Common Problematic Refining Issues:

  • Bait and Switch – In these cases, recyclers undervalue the jewelry you sell since they figure you don’t really know how much precious metals they contain.
  • Dishonest Coin Dealers – Similar to the bait and switch technique, dealers may undervalue your coins. They might say they’re only worth a few hundred dollars, when they’re really worth thousands.
  • Dishonest Dealers – A common tactic of dealer dishonesty is the “time sensitive” trick. They give you a dwindling time frame to make a sale, so that you can sell as fast as possible. Their aim is to avoid negotiations that take time to figure out, and prevent you from earning more for your precious metals.

The behaviours listed above should serve as red flags if you ever spot them. An honest gold refining company keeps you in mind, instead of their own pockets. They will do what’s necessary to make sure that you walk away with a deal that suits the value of your jewelry and metals.

Fussy & Flakey

Now here’s some good and bad news. Good news first: the law does a pretty good job of tracking scammy gold refiners and shutting them down. So the likelihood of stumbling upon these troublemakers has decreased significantly. Now for the bad news. You will find refiners that are hard to deal with despite being honest or even reputable. For every successful transaction, there may be a pounding headache associated with it. The reality is that some people in this business (like many industries) don’t have the people skills needed in order to deal with others. As a result, they can make your experience with them uncomfortable.

Traits You Don’t Need to Put Up With:

  • Rudeness – First and foremost, you don’t deserve inconsiderate or harsh treatment of any kind. Sarcasm and impatience should be immediate signs that your gold refinery of choice is not for you. Also, anyone who makes inappropriate comments or undermines your purpose for selling isn’t worth your time.
  • Tardiness – Speaking of time, there’s the issue of a company taking longer than they need to. Admittedly, gold refining is a complex task and it takes time for professionals to complete it with satisfying results. This can take 3 days on average, although additional testing can make it a 5 – 7 day job. However, a waiting period of weeks is unprofessional and unacceptable – perhaps the result of inexperience or outright disregard. A first time experience with this should be your last if it were to happen!

Gold Refining Companies For Your “Good Books”

So what qualities separate the wheat from the weeds? Fortunately, you don’t have to go through a rigorous process of elimination. Even if you have to consider a few companies first, you can be sure to find the right gold refining company in virtually no time.

Traits of a Worthy Gold Refining Company:

  • Upfront and Honest – The most important aspect of a relationship is trust, and that’s something all worthwhile refineries will focus on. They will be clear and honest about the value of your precious metals, and the amount you will earn from the sale. You can even expect them to go beyond that, and recommend alternative ways of selling your items if they’re not up to a certain standard. A quick phone call or visit can reveal the personality of those working for the company by simply asking them a few questions about the process.
  • Experienced and Well-Spoken of – Few things are as powerful as a testimonial. Whether spoken or written, a refinery that receives good reviews is one that you should keep in memory or saved on your phone! For the most part, word-of-mouth advertising is the most reliable form of promotion out there, and people are almost always honest about their experiences with a particular organization. So if a refining company is well-spoken of, you can most likely trust them. Finally, don’t be afraid to do a quick search for them online – you may find ratings and comments from people who have dealt with that particular refinery.
  • Willing to Answer Questions – Now, here’s a big one. Is the company you’re calling willing to answer your questions? As mentioned in the previous point, you can find out by having a consultation with them. A gold refinery that exercises patience with you when it comes to inquiries is one that you should proceed with. Their willingness to spend time and answer your questions demonstrates their consideration and care for you, their customer. Ultimately, this is a sign that they’ll cooperate with you, even if other things don’t go according to plan.

Your Time is Most Precious

When selling gold items or any metal for that matter, it’s easy to get wrapped up in what you’ll earn. And that’s normal. After all, we could all use a little more cash! But you would most likely agree that time is the most important element in today’s world, not to mention the least abundant. You don’t want to run into the bad apples that may take advantage of you or make things difficult. By making the effort to find a gold refining company that’s honest, trustworthy and cooperative, you can avoid the frustrations that many others have faced. Instead, you can look forward to the returns you’ve been waiting for after turning in your precious metals.

Are you looking to speak with an experienced and friendly gold refining company? Get in touch with us so that we can assist you!