Midwest Refineries Review
| by Hal Young
*These reviews are based on our personal experiences with the individual cash for gold companies and our rating reflects our feelings regarding our transactions with them. Your experience with the gold refiner/dealer may fare better or worse. But we always try to give the most accurate representation of what you are likely to find.
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It is always a good idea to do your own research and find the company that works for you. We do these reviews because it is important for anyone looking to sell their gold to understand that very few online gold buyers will actually give you what your gold is worth. You would be surprised how many cash for gold businesses payout less than half the current price of gold. And not everyone has the time to properly look through and research the hundreds of gold buyers that are out there today. We hope these reviews will give you an idea of what to expect and will help you to make a wise decision.
Midwest Refineries
Cash Payout:
Customer Service:
Turn Around Time:
Shipping Insurance:
Overall:
One of the first refiners that we ever used, Midwest Refineries is a well respected company. They have been around since 1939 and have been online since 1998 which makes them one of the oldest gold refiners still in business. And to top it all off they have an excellent rating with the Better Business Bureau (an A). As our former go to refiner we have almost nothing but good things to say about them.
What initially drew us to them was their payout for high volume customers. 95% is right around the best that you can get baring a few exceptions like Sell Your Gold or Empire Gold Buyers. And from our small volume test their payout was within 3% of the top 5 refiner contenders. The great thing about Midwest Refineries is that they don’t charge refining fees, assay fees, treatment charges, brokering fees, inbound troy ounce weight fees, or handling fees like some other big name gold buyers.
But we did have one major complaint which is one of the reasons that we don’t use them anymore and that is that their turnaround time can be a bit slow. They say to expect a turnaround of 3-5 days but it almost always ends up being a full week or more. Also they don’t offer free insured shipping which is one of the reasons that they can pay more but is also a pain in the ass if you continually have to ship like we do.
We do feel though that overall Midwest Refineries is one of the better gold refineries out there today and that for the average person they will work alright if you are willing to deal with paying for shipping + insurance.
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