Cash 4 Gold Success

Back in 2007, the concept of the public selling scrap gold directly to the refinery was revolutionary. Since then, Cash4Gold has completely changed the way that the industry buys and sells scrap gold. The effects of these changes have impacted the gold industry as a whole by offering customers refinery-direct access, eliminating the middleman. No longer do you have to go to a pawn shop or broker to find someone to buy your gold scrap–now anyone can sell gold directly to a company that buys gold scraps online.

When Jeff Aronson, Founder and CEO of Cash4Gold, started the company as a spinoff of his Albar Precious Metals back in 2007, he had big plans for the little company. He saw the need for an alternative to the traditional pawn shop for his refining business to buy gold scrap. He knew that there were many people out there who were saying to themselves “Someone, please buy my gold scrap!” and they just didn’t know how to go about getting it sold. By reaching out through the Internet and through prime time advertising, Cash4Gold offered a solution to a common problem. Many people simply didn’t realize that their outdated jewelry, broken gold chains, and other items were of any value, and with Cash4Gold, they could now cash them in.

Cash4Gold embarked on a new venture that met the growing need for a service that would buy your gold scrap and other metals without a middle man or pawn broker. With President Howard Mofshin on board, Cash4Gold’s customers were satisfied time and again and the company was able to grow beyond all expectations.

In 2007, the company had just two employees. Two years later, Cash4Gold exploded to over 300 employees and is now situated in a 40,000 square foot “Fort Knox” style state-of-the-art facility. The company’s growth was directly related to its success in providing a much needed service and by making sure that customer satisfaction is always the first priority.

As a result of hard work, good management, and excellent customer service, Cash4Gold is now the largest company of its kind in the nation and is truly the “gold standard” to which today’s appraisers and those who buy gold scrap are held. There have been many companies that have claimed to offer the same service as Cash4Gold, but there is only one Cash4Gold and it is completely dedicated to offering the highest quality customer service and establishing good relationships to encourage repeat business to buy gold scrap. Cash4Gold was recognized by Forbes Magazine as one of 2008’s “Top Companies to Watch.”

In 2009, in a bold move, the company broke new ground by being the first refinery ever to purchase commercial time during the Super Bowl. The commercial featured celebrities Ed McMahon and MC Hammer (who have both been through very public financial difficulties), and showed the two celebrities sending in items that got more outrageous as the ad went on. The spot received great reviews.

Much of Cash4Gold’s success is attributed to their development of a proprietary method for processing and refining scrap gold. By using the power of the Internet, Cash4Gold is able to offer safe, convenient, and fast transactions to its customers. The system is very simple to use and customers enjoy the convenience of working with one of the nation’s largest gold scrap buyers. Through this proven system to buy gold scraps, Cash4Gold has quickly set new standards for the industry.

It’s easy to have Cash4Gold buy your gold scraps. Simply request a Refiner’s Return Pak. The Pak is sent at no cost to the customer through the mail and can be tracked. The customer prepares an itemized list of the contents, encloses the gold scrap, and sends it back to Cash4Gold. The package is received and then transported to Cash4Gold’s high tech testing lab.

Gold Buying Industry

The contents of the Pak are verified against the customer’s itemized list and the gold is tested for purity. The K or Kt marking on jewelry is a good indicator for how much gold is contained in an item, but the actual amount of gold varies from piece to piece. For example, a 14k piece of gold should contain 58.3% pure gold, but in some cases, this number can be as low as 53%. After the gold is tested, the customer is issued a check the same day for the melt value of their scrap gold. The total turnaround time from the time you first contact Cash4Gold is about two weeks.

When buying gold scrap, only the melt value is taken into consideration to determine the price. The melt value is the amount of gold that the item actually contains. In other words, it is the value of only the gold that is contained in the item and does not take into consideration the design or craftsmanship required to make the piece.

So what happens after the gold is tested and the checks are cut? The scrap gold is sent to the refinery and is melted. The pieces that are sent to Cash4Gold that do not contain any gold are discarded unless you indicate that you want those items returned to you. Once the gold is melted, it is put through an intense and lengthy refining process until it is pure gold powder. The powder is then made into solid gold bars. End

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