Often at our Montreal gold parties we get asked about what we do with people’s old gold jewellery.  Though we’ve never received the same question from our gold mail-in program clients, I thought that I might share the information in any case. Some of you might be curious.

Typically, the question arises from a fear that we are buying unwanted jewellery, cleaning it up and selling it again. While that is what happens when you sell your jewellery to a pawn shop, that’s not what happens with Gold Guys.

Other mail-in programs will claim that they are a refinery as well, and that they melt down the gold into ingots. While that may be true, it’s not the full story. After they melt and process the gold, the most typical course of action is to sell it to the Canadian Mint (who will NOT give full value price for it). Thus, when other programs buy your gold they also have to factor in a mark-up on resell, which eats into the cash that they can offer for your gold. Again, that is not what happens with Gold Guys.

Gold Guys Canada operates out of a Montreal-based gold chain manufacturer. What that means is that when we get old, unwanted gold, we refine and process it and then use it to manufacture our own products. The implications here are important!

  1. We do not re-sell your jewellery for a profit.
  2. We melt and refine your gold ourselves, saving on refining costs.
  3. We re-use your gold in our own manufacturing meaning that
    • We do not take a loss reselling ingots (nor pass on that loss to you)
    • We re-use gold rather than buying new (environmentally preferable)
    • We save our own money by not paying premium prices to the Mint for gold, and we can pass that savings on to you.

I’ll make it a point in the next few days to take and post some pictures of our factory and processing facilities. Until then…

Dig out old gold and send it in!

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