Online cash for gold businesses have been in the news less the past few years, after the great rise and fall of gold prices over the past few years. But they’re still alive and well, so we’re here to take a look at one of the newest ones, Cash for Gold Mailer.
As the market has shrank, so have the number of online (and offline) cash for gold businesses and pawn shops. It’s unusual to see one actually entering the market, which is why Cash for Gold Mailer caught our eye. Touted as a more efficient business model, they focus on processing packs from one central location and taking a smaller cut as a processing fee.
The steps are pretty much the same as any cash for gold business operating online, so if you’re familiar with the industry these will look very familiar to you:
1) Request a Pack
Cash for Gold Mailer provides everything you need to send your valuables in. They’ll send you a package in the mail with a prepaid, padded, insured envelope. So all you really need to do is fill out a short information sheet, put your valuables in the package, and you’re ready to ship.
If you’ve got the supplies to mail it yourself, you can print a free shipping label that will take care of the shipping cost and insurance for you, keeping the process essentially free. Attach that label to your box/bag and you’re pretty much ready to go.
2) Mail Your Items
Mailing your package is even easier than taking it to your nearest FedEx location, although you can do that if you want. Since it’s prepaid, you can just drop it in any FedEx box and they’ll take it from there. Cash for Gold Mailer will even schedule a pickup if you prefer, and they’ll grab it right from your house.
3) Accept or Deny Your Offer
From there, the process is in the capable hands of the team at Cash for Gold Mailer. They’ll process your valuables the same they are received, carefully testing and weighing them to determine the value of your gold, silver, and other gemstones. They’ll post the offer in your account, which you can check online at any time, and notify you when it’s there so you can go decide whether you want to accept the offer and get cash, or if you want the items returned.
In your account area, you’ll be able to make that selection. If you choose the cash, you’ll get payment via check, or paypal. If you choose the valuables, they’ll send them back safely via FedEx just the way they were sent – for free!
As we mentioned before, that process isn’t totally unusual. That said, they do have it organized effectively and more efficiently than most other companies we’ve seen. The ability to accept or reject offers online and order multiple packs is a fairly novel idea, speeding up the process and making it much more transparent. Plus, their insurance levels and shipping are the best in the business too.
We haven’t tested their service through the mail to see how the initial price offers were. However, we buy into the business model. Instead of operating multiple locations and showrooms that require enhanced security, numerous employees to sit around all day, and other increased overhead costs, they run an operation that requires much lower margins to make a profit. This puts them in a strong position when it comes to offering the highest price for your gold.
They also offer a 100% price match guarantee. If you get a qualifying offer from a different shop, they’ll match it.
Maybe best of all, their website isn’t as sketchy and yawn-worthy of so many of their competitors. Their recent post on the value of olympic gold medals over the years is a great read.
Have you worked with Cash for Gold Mailer in the past or have you decided to soon? If you do, leave a comment about the experience!