Gold Buyers of America Review
If you’re thinking about investing in a gold IRA you’re making a smart move. With our economy in turmoil it is easy to lose everything you’ve worked for in the blink of an eye if your savings aren’t protected.
In this Gold Buyers of America review we’ll go over just what this company is all about and whether or not they can help you with your investment strategy.
Services and Products
Gold Buyers of America are just what you would expect: a company that pays you cash for gold just like you’ve seen a million times before. Here is what they buy as listed on their website:
Gold • 10k GOLD • 14k GOLD • 14kw GOLD • 18k GOLD • 18kw GOLD
22k GOLD • 24k • Platinum • Silver •
Silver serving sets (complete or incomplete sets) • Bracelets (in any condition)
Necklaces (any condition) • Gold watches • Silver & Gold coins • Dental Gold • Earrings • Rings • class rings • Charms • Estate jewelry
There is no mention of investment grade gold so whether or not you could use them as a method of liquidating your assets is unknown unfortunately.
To sell to them you can either request a gold pack via the mail or you can visit one of their stores. The good thing is that if you do it by mail you will be sent your payment overnight once approved.
Overall there really doesn’t seem to be anything that separates Gold Buyers of America from most other companies that perform similar services.
In this part of our Gold Buyers of America review we’ll take a look and see just what people are saying about the company.
This customer had issues with the amount of money he was offered for his jewelry:
“Then, the magic moment I had been waiting for arrived…the time when this supposed gold buyer expert would give me his offer. No offer of taking the items and giving them a real appraisal, no, not at all.
$300 is what he offered me, and he told me he doesn’t think I will get much more for these items.
I thanked him, and bit my tongue as I left for I sure wanted to tell him to change his suit, cut his hair, vacuum or maybe just plug in his computer and people might take him a little more seriously, but I decided against it.
I took my gold to the place I cash my checks, and in 20 minutes, they offered me more than 2x what he had offered me, about what I expected to get for my 22k gold jewelry that I sold.” – Adam Z – Yelp.com
This employee has a problem with the way Gold Buyers of America does business as well as how he was treated:
“I started as a buyer in one of the hotel based locations and quickly moved my way up the ladder. Within six months I was the manager of the larger full time location in the Fox Run Mall, as well as the manager for the hotel based location in Nashua, NH. About 18 months after dedicating 50-60+ hours a week at my job (even spending the night in my office during snow storms to make sure the store could be opened in the morning), corporate started withholding my pay for no given reason. I went through the appropriate channels and after one month of working for free I went to the labor board. I was terminated two days after filing my complaint to the board and proceeded to suit the company. Even though I won my lawsuit within 3 months of being fired, it took almost a year to see a dime from the suit and they still owe me over $1,000. Now that I don’t work there they no longer follow OSHA standards when testing gold, they scam customers more often then give them a fair deal and employees leave on a constant basis for non-payment of wages or commission, unsafe work conditions, and corporate not following general labor laws.” – Former Employee from Indeed.com
This customer also felt as though he was ripped off:
“Don’t do it. I directed a friend to sell my gold $10US coin at Premier but she went to this place instead by mistake. Classic bait and switch operation. She called them and they said the coin was worth between 315 and 385 but when she went in there, they told her they "don’t honor phone quotes" and gave her $300 for it on a week when the fair market value was $390, let alone the numismatic value of the last of the $10 gold coins” – NM1is2strange from Yellow Pages
Here are some overall scores of Gold Buyers of America. They’re pretty terrible:
1/5 – Yellow Pages
1/5 – Yelp
3.4/5 – Indeed (from employees)
F – BBB
WARNING – The BBB has issued an alert for Gold Buyers of America. It reads as follows:
On February 21, 2012 Better Business Bureau requested that Gold Buyers of America, LLC substantiate the following advertising claims located on their website or to modify their advertising to reflect a more accurate statement:
1. “We are the largest gold buyer in America”.
2. “25 years in the industry”.
As of May 29, 2012 they have not made any adjustments to their advertising. – See more at: http://www.bbb.org/south-east-florida/business-reviews/gold-silver-and-platinum-dealers/gold-buyers-of-america-in-boynton-beach-fl-92012692#sthash.pKRjZqUq.dpuf
As a business Gold Buyers of America don’t seem to offer anything to significantly separate themselves from their competition. Their services are painfully average at best.
Worse, their feedback is terrible. Almost all the reviews I found were complaints about service and pricing. The final score for this Gold Buyers of America review is:
Unless Gold Buyers of America gets their act together I can’t recommend them as a means of liquidating your assets at all even if they do accept investment grade gold.
If you’re thinking about starting your own Gold IRA to protect your savings from the threat of hyperinflation and the failing US dollar, Regal Assets is ready to help.
In addition to their exceptional track record and reputation, they are also endorsed by big names such as Alan Thicke, Lars Larson, Jerry Doyle, Dennis Miller, and more.
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