Has anyone sold to redollar? UPDATE LAST POST

bsshog40

I've been checking them out quite a bit today. I see where they buy gold and coins. They claim to pay decent money with good trustpilot reviews. I was thinking of trying them out on some old gold jewelry but was wondering if anyone has used them before or even heard of them.
Thanks,
Bobby

OAKSTAR

What is sold to redollar?

OAKSTAR

Oh, this website? No idea, sorry.

https://www.redollar.com/

bsshog40

@OAKSTAR said:
Oh, this website? No idea, sorry.

https://www.redollar.com/

Yep

TomB

Seems like it might be a loser bet to me.

In my opinion, and it is just an opinion since I have never dealt with them, the website gives off the vibe of something where you ship the merchandise and they quote you a price. I'd guess most folks would either not have access to a local jeweler or coin dealer or wouldn't know they could go to one and that if a price is too low they would either accept it or have angst about paying out the shipping and hoping to get the stuff back. I write this because they are currently willing to buy 24k pure gold bullion for just over 93% of it's bullion value and 0.999 fine silver at essentially the same rate. I don't think they are a scam, but I just think you might do better to look locally first.

Broadstruck

Yep, hit local jewelers so you can walk away with your jewelry if you don't like their buy price.

I've done consignment sales with my local jewelers on non-scrap which yielded me way more than bullion.

bsshog40

Their site states that if you don't like their offer, they will ship back at their expense.

thebeav

Their prices for gold jewelry scrap are fair, not top dollar, but within 1.50 per dwt or so. Use those prices to shop locally.....If you have no success, then consider them. At any rate, you can weigh your own stuff and know what to expect.

bsshog40

Ya, I've weighed everything. Their calculator is definitely suggesting around 50% more than I can get locally. Thats if my scale is correct and and gold content is correct which I know is. Locally was offered less than a third of value at current gold scrap market prices.

spyglassdesign

Check bbb. You might be surprised.

bsshog40

@spyglassdesign said:
Check bbb. You might be surprised.

I did. I couldn't find them on bbb. I did find them on trustpilot, google and yelp. Did you find them on bbb? Please shoot me the link if so. When I searched bbb for them it only pulled up dollar general. I don't want to take any risks.

spyglassdesign

No I didn't look. I'd be wary of anyone not on bbb though because the online reviews can often be faked... Not that the bbb is the end all, as there are plenty of legitimate businesses not on the bbb but it's certainly at least a small red flag for me.

However, I used archive.org, domain who is, Google, and even verified its a legitimate business registered in Colorado (https://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do), and maintains the parent business filing (likely for tax purposes) in Wyoming, and for all intents and purposes I can't find any major red flags. They've been operating since st least 2015 under the name by archive.org (that's as far as I went back), trademarked the name in 2017, and it was registered in Colorado in 2018.

I would be hesitant too, but I hope this helps. They at least appear to be operating as a legitimate business and not a fly by night operation at the very least.

1Mike1

I've seen jewelry on the precious metals forum for sale.

ricko

Good luck selling gold jewelry, under normal conditions, no where near new market price - tremendous markup on jewelry. Bullion weight, computed for content, will bring lower than current bullion prices due to necessary processing. Look for best deal locally to avoid shipping costs etc.. Cheers, RickO

jmlanzaf

@bsshog40 said:
Ya, I've weighed everything. Their calculator is definitely suggesting around 50% more than I can get locally. Thats if my scale is correct and and gold content is correct which I know is. Locally was offered less than a third of value at current gold scrap market prices.

I'm really shocked at that. Who do you have local that is paying so far back of melt. It's not uncommon for people to try to make 10 to 20% on scrap depending on the type and how easy it is for them to ship it out. But more than 30% below...???

bsshog40

@jmlanzaf said:

@bsshog40 said:
Ya, I've weighed everything. Their calculator is definitely suggesting around 50% more than I can get locally. Thats if my scale is correct and and gold content is correct which I know is. Locally was offered less than a third of value at current gold scrap market prices.

I'm really shocked at that. Who do you have local that is paying so far back of melt. It's not uncommon for people to try to make 10 to 20% on scrap depending on the type and how easy it is for them to ship it out. But more than 30% below...???

We live in a rural area. The town next to us only has 2 pawn shops and 1 actual jewelry store. The jewelry store doesn't buy used jewelry. I have 22.53g of 14k gold jewelry which at scrap value should be around $800. One pawn shop offered $265 and the other offered $300.

jmlanzaf

@bsshog40 said:

@jmlanzaf said:

@bsshog40 said:
Ya, I've weighed everything. Their calculator is definitely suggesting around 50% more than I can get locally. Thats if my scale is correct and and gold content is correct which I know is. Locally was offered less than a third of value at current gold scrap market prices.

I'm really shocked at that. Who do you have local that is paying so far back of melt. It's not uncommon for people to try to make 10 to 20% on scrap depending on the type and how easy it is for them to ship it out. But more than 30% below...???

We live in a rural area. The town next to us only has 2 pawn shops and 1 actual jewelry store. The jewelry store doesn't buy used jewelry. I have 22.53g of 14k gold jewelry which at scrap value should be around $800. One pawn shop offered $265 and the other offered $300.

Yeah, pawn shops aren't exactly the best place to scrap. Scrap price should be around $52 per pennyweight. 22.53 grams is 14.48 pennyweight. So scrap value is $753 [Gold at $1920]

bsshog40

Well I figure if I can get more than a pawn shop offers, I'm still doing ok for something just sitting in a box that will never be used. Ebay is too much of a gamble for stuff like this especially competing with literally 1000's of other auctions.

jmlanzaf

@bsshog40 said:
Well I figure if I can get more than a pawn shop offers, I'm still doing ok for something just sitting in a box that will never be used. Ebay is too much of a gamble for stuff like this especially competing with literally 1000's of other auctions.

Honestly, if they are paying $50.50 per dwt (I just looked) that is fair.

bsshog40

So I called the one jewelry store again and it seems they have one lady that deals with gold jewelry and she has weird hrs. They can't tell me when she'll be in and it’s a half hr drive to make that gamble. Redollar is sending me a shipping kit so I may keep calling the jewelry store until I catch the lady between now and then to see what they pay by weight.

spyglassdesign

Let us know how it goes!

bsshog40

Btw, I did find them on Facebook also. In case you're interested, they are listed as reDollar. I will still update this post with results.

skier07

I’ve had good experiences with Midwest Refineries.

https://forums.collectors.com/discussion/1043961/gold-scrap-jewelry-update#latest

bsshog40

Ok, wish me luck. About to send off gold in their shipping kit. Consisted of large padded envelope, plastic baggies, auth. to sell form and a UPS box with prepaid label and $850 ins.

TomB

Good luck! I don't think you have anything to worry about regarding the legitimacy of their business and as long as you are happy with the quote then all is good.

bsshog40

So this is what I got back from redollar. Kind of disappointing. I am accepting their offer and they are shipping the bad jewelry back to me at no cost. Instantly just got the money thru zelle and trkg # for the return of my fake jewelry. Very fast service!

TomB

I guess it worked out well for you in the end, though of course the jewelry marked as 14K that isn't as marked has to be a bummer. It looks as though they did what they promised.

johnny010

Looks professional

bsshog40

I checked their weights also compared to my weights. I had weighed everything separate. So what they show as 14k weighed 1.38g. My scale showed 1.36g. The scrap gold value of the 14k from midstatesrecycling showed about $108. They paid $102. Much better than a pawn shop.