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Midwest Refineries...The Final Step Of The Process...The PAYOUT! :)

M

Mike (Virginia Beach)

New member
I've had a lot of people PM'ing and asking me questions and asking from time to time on the forum, so in the interest of sharing the info, here is what you can expect from Midwest if you send them your stuff.

1) A fair deal and one you will not beat at other outfits that do this

2) A FULL accounting of your order

3) Prompt turnaround

4) Hopefully a nice check (or bars/coins/combination thereof...your choice)

Here are the 3 things they sent me today:

The "assay" report...
[attachment 69826 Midwest1.jpg]

The check:
[attachment 69852 Midwest2.jpg]

The "rejected" report... (and I knew the chain was suspect because it was marked 14K and the plating had come off and it LOOKED silver...wasn't even silver!)
[attachment 69828 Midwest3.jpg]

So there you have it. What more could anyone ask??? Happy camper = Me :)
 
Hey Mike

Just a suggestion, myself being a victim of check fraud, you might want to edit your photo and delete the routing and account # on the displayed check. I hope that one day I too will have enough gold to mail to the refinery, but my wife keeps claiming all my finds.
 
I think so. There's still a lot out there but it's BURIED. Karl and I hit it for 3 hours last night, in the same area where the 2 gold chains and 6 rings (7 with Karl's) came from last Sunday. I got $1.05 in clad and he got about $1.50. It was painful. It's badly sanded in, just that quick. But you get one good cut and it's ON. So that's the name of the game...right place, right time...always is. :)
 
Thanks for sharing Mike allot of good info. I am just short of 1000.00 in scrap price sence Jan. I hope soon to send in a load to MIdwest. You sure hit the price at the top for this year, good call. Thanks again, HH.
 
Well it didn't turn into 1oz., it turned into 1.4oz. which is more like 1.5 oz than 1oz.

My gold that I sent in was a mix of 10K (whick is 41.7% pure gold) and 14K (which is 58.5% pure gold). If you average that together, it comes out to 50%. Not all gold is as pure as it is stamped to be, so the fact that mine came out to 48% seems just about perfect. It's all in the report.
 
n/t
 
Mike, what do you do with gold jewelry with precious stones such as diamonds, you don't send them in do you? And what happens to jewelry found not to be gold, is it returned?
 
No, I don't send in anything with stones. In the case that I do send in rings with fake stones, CZ's, etc. for the gold or silver weight, I usually take some pliers and bust the stones out. But diamond rings, class rings, etc. I keep.

I have a number of people that I work with that like to buy my stuff. I've sold at least a dozen diamond rings at work. My wife has several. I have a few, one that I wear all the time. And my daughter has a nice collection. All I send in for melting is mostly any of the wedding bands as well as any silver rings and chains that nobody wants.

As for the junk stuff found to be fake, they dispose of it unless you ask them to send it back, in which case they will but of course they would have to charge you for shipping. What would be the point? Unless I didn't trust them. But I do. The stuff they said was no good was not a surprise to me. But it was marked as gold or silver so I sent it anyway.
 
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