Has anyone sent off scrap gold to Midwest lately?, if so what's the wait time, and do they make any effort to contact you on the settlement date?

[OUTATIME]

n/t

 

[Gulf Hunter]

OUTATIME, I have just settled a couple of batches recently. Of course, I simply rolled the money immediately back into bullion, like I always have. I would be terrified about actually selling right now, although it does seem to be a reasonably steady market though, but WAY off the pace of over $1000. They are taking about 7-10 days to settle, but maybe getting them done quicker now. They determine what the settlement will be, based on the days spot prices. Sometimes it will be a lower price than the actual close amount too, because supposedly they have to sell the gold lot to a buyer. They are still the best deal going, unless you actually sell the pieces as jewelry. I like to know what the total troy ozs contained is and Midwest lets me know that, because that is how much bullion I try to buy. I do the same thing with silver and gold. They issued checks immediately, after settling, no call. BE SURE TO ONLY SEND IN LIKE KARAT WEIGHTS. I.E., 10K in one batch and then send out 14K a couple days later and so forth. If you send in mixed karat weights, it dilutes your assay and you will lose! Send me a PM, if you have anymore questions. PM me.

 

[OUTATIME]

Thanks for the reply GH.

I just sent off a small batch of 10k gold rings/ dental gold and a necklace.

The rings are class rings that I purchased off of ebay last year, not finds....so I guess we'll see how it goes.

I'll post again after I get a the settlement.

Happy Huntin'

OUTATIME

 

[Gulf Hunter]

Cool, this is your maiden voyage into the refining gig, eh? It's all part of becoming a pirate, LOL! The 1st one is always kinda freaky, but you'll get used to how things are. You did the right thing sending all 10K and let us know how it goes. If you search back, you may be able to see some of my old invoices, around April '07 and check out the breakdown on the invoice. I usually try to send in at least a couple ozs per batch, as I like to see the details. My sisters rode piggyback on a couple of my batches and they just settled them outright, with no assay or breakdown. I hope you are happy with the results.

 

[cabochris]

I just sent in about 2 Grand in scrap gold. Had my check in just days! This is the second time I have used Midwest. They give 94% on gold. I trust them and will use them again. I always weigh my gold prior to shipping, mark and send in zip loc bags, insured. They do not contact you prior to settlement. They have done good by me. CC.

 

[prodrigsr]

I got millions of them!! Seriously Midwest is the way to go> Have had 2 transactions with them and they have done good by me.