Since the price of gold has been on the rise these past few months, more and more people are turning to selling their gold for cash. But the problem is that there are many gold buyers out there today that are more than happy to rip you off. That is why it is important to know about any cash for gold company that you will be dealing with. With thorough research you can usually tell if a company is a scam or not but sometimes it is tough to tell. So it can help to read reviews and other comments about these companies. I can hear you thinking now, “That is good advice and all but I came here to find out if Midwest Refineries a scam. So are they or not?”.
Midwest refineries is a Michigan based gold refiner that has been in business now for over 70 years. They first went online in 1998 and have been buying gold online ever since. They pay you around 95% of the current spot price of gold for scrap gold that you might have. They state on their site that:
“Our modern assay laboratory and our commitment to service, insures you will receive the highest settlements and returns for your gold materials. If you have not used Midwest Refineries before, we would welcome the opportunity to be of service to you as gold buyers, smelters and refiners. We are confident you will be satisfied with your gold transaction with us. We are proud of our reputation as gold refiners and will continue to service all our customers, large and small, with integrity and trust. We are never too busy to talk to you about your particular gold materials and how we may be of benefit to you.”
With an excellent Better Business Bureau rating of A+, these guys are quite far from any so called “Midwest Refineries scam”. The only real problem is that they don’t pay for shipping or insurance. You can read more about that in our review of Midwest Refineries. If you’ve had any experiences with this cash for gold company feel free to share via the comments.
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{ 8 comments… read them below or add one }
I have used this company several times and they are honest, aboveboard, prompt and FAIR. I will never use anyone else…….these guys will get all of my business.
They’ve always treated me well. Better pay outs than the roving gold parties or jewelry stores.
Midwest charged me for refining fees because my order was too small and they sold it to a third party or something. Quotes from their site: “90% of the amount of pure platinum contained in your order”, “NO OTHER CHARGES OR FEES!”, “# No minimum amount of scrap gold, platinum and silver. No amount too small or too large. No gold, silver and platinum refiners fees or refining charges!” I was expecting around $680 for a platinum ring and received $457. They did not test it, it took two weeks to get a settlement (while metals were plummeting), terrible customer service and lies, lies and more lies on their website. I have contacted the Michigan Attorney General’s Office, the BBB and I do plan on filing a complaint against Midwest Refineries. I have had issues this company before when selling them gold but I wanted the additional 10% they offered with platinum. Boy….what a mistake that was. I will never use Midwest again. What a joke and a scam.
I too have been riped off by Medwest Refineries. They shorted me by $ 3,000.00 on my lowball estimate. I also have turned them into the State Attorney Generals office.
midwest is 100 percent straight and honest buyer. I have sold scrap tro them numerous times and they have been completely straight forward every time. lso they have handled my shipping special requests with no fuss.
This is an excellent resource if you have any type of precious nmetals to dispose of.
Hey! I have been dealing with these guys for about 3 years now. They are top notch and honest. They have actually gotten better and give you more than the others I have researched. I deal with Gary he is great!!!!!!!!!!!!
I used these guys a few years ago..I had researched about how much gold I had and the current price of gold. I was very impressed and received a check within 3 days. I would do business with them any day..I refer them any time a friend mentions selling their gold/precious metal scrap.
It took me a while to warm up to the offer, but it looks like the transaction was okay. I sent in a silver ring given to me years ago, plus an old tooth crown recently removed. At first, it seemed to me that the ring weighed more than the reported 7 grams (approx. .247 troy ounce). I had hoped I would get more than $6 for the ring, but I think I was wrong. I did some research later online, and learned that a silver ring normally weighs around 12 grams–for a basic one. It’s probably best to weigh your sent material before mailing. I didn’t have a low weight scale at home–so trusted the refinery to weigh items correctly. I received a check in the mail perhaps a little over week after mailing out the contents from California. From what I understand, the check amount will become your accepted offer if you decide to cash the check. Any questions, call the refinery phone number. I spoke to Gary to inquire more about the ring weight. Found the company by doing a search on webcrawler.com, I believe. 2nd result.