ARA Gold Question

[IDETECT]

I'm getting ready to cash in some of my gold rings for the 1st time ever. In reading past posts it appears ARA Gold (www.aragold.com) is giving the best price at spot gold price less 2% (Midwest charges 5%).

I have 11 14kt gold bands weighing a total of 76 grams. Using the Precious Metals calculator (http://dendritics.com/scales/metal-calc.asp), I should get $1,673 after the 2% fee (gold at $1,197.56/troy oz). Here are my questions for those of you who have used ARA Gold:

Is the calculation as simple as noted above?

Any suggestions on how I should send these in to ARA Gold (packaging, cover note, insurance, settlement options, etc.)

Thanks for your help...this will help pay for my son's college.

 

[vatreasureseeker]

That calculation is close to the figure-when gold is melted you lose a slight bit due to the temperature it takes-I send all my gold to ARA because they only charge the 2 percent-any stones are returned to you-I always insure package for value of the gold-Hope this helps-

 

[deerman]

vatreasureseeker is right also take a picture of the gold your sending and keep it just in case you need a pic and after you get your money
just delete the picture i also put it in diff.baggies I.E. 14k/10k/18k ect... and list how many in each baggie hope this helps

 

[Sand Scoop]

I use the Priority mail boxes you can get at the post office.You pay according to the box size.I think the smallest cost about $4.50 to ship. Its a preset price according to box size.I get insurance to cover the what I figure it worth. Last time I sent in to ARA it cost me around $37.00 to mail and insurance....

 

[ridgerunner]

I suggest signature confirmation, You will know when it is delivered to Aragold

 

[HawaiiMDer]

I use the Priority mail boxes you can get at the post office.You pay according to the box size.I think the smallest cost about $4.50 to ship. Its a preset price according to box size.I get insurance to cover the what I figure it worth. Last time I sent in to ARA it cost me around $37.00 to mail and insurance....

I used to do it this way, until i asked a few more questions to the person at the counter of the post office. I asked him if the package got lost would i get the money for my insured jewelry? His reply was you would only get the money for your insured jewelry if you provided receipts to the value of each piece of jewelry. Now all of my jewelry i found and i know i don't have receipts for them, so i asked, what if i know the total weight for all my items and their respective value according to the gold market. His reply was good luck!!!!! So the money you spend on issurance in my opinion is a waste unless you have receipts for the value of the jewelry. Next time you guys visit your friendly post office i invite you to inquire as i did. I don't know how UPS does it though, i'm assuming probably the same way, but i'm not sure.

Thanks,

Ken

 

[John (west central FL)]

The best way to ship your gold is by USPS Registered Mail. Registered Mail is kept under lock and key and signed for every time it changes hands. It is also less expensive than regular insurance for large value items.

My only experience with ARA was that I got a few hundred dollars less than what I calculated. This is even after I deducted the weight of the returned stones. There are three possible reasons for this. 1) I calculated wrong. 2) The actual gold content was less than what is stamped on the jewelry. 3) ARA paid too little. I will give them the benefit of the doubt and assume that it was reason number 2.

John