Selling gold or silver used to be challenging for a seller. People would need to search for potential buyers, set up appointments, and haggle over prices before any transaction would take place. With the rise of the Internet, the selling process became faster and much more convenient.
With a click of the button, a seller would instantly have a list of potential places where they can sell their gold and silver pieces.
But the online gold and silver trading industry also has its downfalls. When Silver and Gold Exchange was established in 2009, we set out to counter complaints for sellers and improve the selling process.
Below are 5 of the most common complaints we have encountered over the years and how we have structured our buying process to remedy the problems commonly faced by sellers.
1. Gold and Silver Buying Scams
Selling Gold or Silver?
get your shipping labelLike in real life, there are a lot of shady souls that are out to scam people for their hard-earned money. The silver and gold market is not immune to buyers who use deceptive practices to profit on sellers.
Solution
We strive to exceed our customer expectations and counter stereotypes that have fallen on silver and gold buyers. We openly accept feedback and are always available to help answer questions or concerns about the selling process.
By upholding the ethical business practices and high standards of customer care set by the Better Business Bureau, we have grown to be a nationally respected silver and gold buyer with an “A” Accreditation with the Better Business Bureau.
2. Selling Gold & Silver, Safely and Securely
Selling silver and gold online involves sending items to the buyer through the mail service or through a shipping company. A number of people have reported that their items have gone missing while in transit.
Solution
We provide a free, trackable Shipping Label for sellers to monitor their package during shipment. If a package does go missing, our shipping labels include insurance of up to $1,000. Finding out a package has gone missing during shipping is never welcome news; however, the insurance coverage provides a little peace of mind for the seller, knowing they are covered for any loss.
3. Returning Pieces to the Silver / Gold Seller
Since buyers won’t be able to instantly receive and appraise the gold and silver that is sent, receiving a price quote sometimes takes a while before reaching the seller. If no deal has been agreed upon, returning the items back to the seller is sometimes delayed.
Solution
We use an independent third party testing laboratory to appraise all precious metals to ensure the seller receives a fair, unbiased price for their silver and gold. We then send the offer immediately to the seller to accept or decline.
If an offer is declined, we return the items promptly, at our expense, to the seller. We never delay either the payment or any items being returned. Both are a priority for the seller, and we make it our priority. We don’t compromise when it comes to making the selling process as worry-free for the siller.
4. The Appraisal of Silver & Gold
Although, gold and silver are usually traded at market determined prices, buyers can set selling rates on their own.
Solution
We keep our prices transparent and publish a live price chart online. This also provides an advantage for the seller since they are able to monitor the selling prices for precious metals.
5. Quick & Safe Payments
Payments are usually received five to seven days upon acceptance of a price quote. This is a bit of a setback if sellers needed the money fast.
Solution
We send payment to sellers before we are paid for the items. Since we don’t have a day scheduled in the calendar month for processing payments, we process payments immediately.
Have you had a negative experience with selling silver and gold?
The above 5 issues are only a few of the most common problems that have been brought to our attention by sellers over the years. By dedicating ourselves to building a selling process that meets the seller’s requirements and listening to feedback from our sellers, we have structured the buying and selling process to be a less stressful experience for selling gold and silver, for both first-time and experienced sellers.
Please contact us if you have any questions about Silver and Gold Exchange.
