Q: Where is my gold sent to?
Your gold is sent insured, prepaid, and trackable to the processing facility of The Golden Rule. While in our care, your gold is kept in the insured and secured vaults of our alarmed offices. While your gold is being processed, it is digitally recorded. This video is available for review to both you and your designated charitable institution.
Q: How is my gold analyzed?
In our scientific testing lab, each of your gold items is analyzed for gold karatage and weight. This information is determined by using state of the art gold current testing and/or x ray analysis. This information is available for review to both you and your designated charitable institution.
Q: How long does the process take?
You are notified of the receipt of your package the day that it is received. You are notified of the actual lab analysis and gold buy offer within 48 hours of the package’s receipt. As soon as we receive your acceptance of the offer and agreement to proceed, your gold is delivered to the refiner. You are notified of the actual refiner price paid upon refining as well as when your designated charitable institution is remitted the full refiner value. This notification occurs with in 48 hours of refiner payment. You will be contacted for fund handling and remittance by your designated charitable institution.
Q: How is my offer arrived at?
Your offer is approximate based upon the daily gold price, the quality and quantity of your gold, and the current refiner prices. Your part of the offer is based upon prevailing payments offered by gold buyers in your community.
Q: What if I don’t chose to go forward after I get my offer?
If you decide to not proceed, your items are sent back to you via the United States Postal Service. They are sent in a tamper proof, insured, and trackable package for which you will be required to sign for upon receipt. If you do not respond to our communication within 2 weeks, we presume that you do not wish to proceed and will return your goods as noted in the sentence above.
Q: How am I paid?
Any and all payments to you as well as donation documents are provided directly by your designated charitable institution. The payment to you is in the top tier of what is paid locally and what you would discover were you to sell locally. The net to you usually represents half of refiner prices and matches the best price average in your community. The other half paid by the refiner is donated in your name to your chosen non profit.
Q: Why does my designated charity pay me?
This is done because your designated charitable institution is given the full proceeds from the refining of your gold. They will issue any payments. Beyond the partial or full donation that you have provided them with, there are potential tax benefits for the donated portion that may generate 501(c)(3) documentation for your possible use.
Q: How does the tax deduction work?
With a partial or full donation made through your designated charitable institution , you may qualify for tax benefits created by the donation. This is a matter that should be discussed with your tax professional.
Q: Why am I able to sell my gold so well and benefit myself and my charity of choice?
This is possible because your gold is handled through The Golden Rule. What you are paid represents a competitive and fair price that is in the high range of what you would be paid were you to sell your gold locally. The Golden Rule acts as the gold buyer for your designated charitable institution and is able to sell the gold directly to those refiners that have the highest payout. What would normally be the profit retained by those who would buy your gold is instead given by you as a donation to your designated charitable institution. It is clearly the best path of selling your gold. In most situations your donation may qualify you for a tax deduction.
Q: What are my options in sharing the money with my charity ?
The premise of The Golden Rule program is to stimulate charitable giving as well as provide sellers of gold with a fair and competitive price for their gold. At most, the program is designed to provide you with half of the refiner proceeds. The other half is to stay with your designated charitable institution. If you care to donate the entire refiner proceeds, to your designated charitable institution, it will be accepted. Gladly and Thankfully.
Q: Can I split the donated portion with more than one charity?
This can be done through arrangements coordinated with your designated charitable institution.
Preparing & Shipping my gold
If you need guidance in packaging and shipping your gold, please review the shipping video below.
Q: Is my package that I send to you insured?
Your gold valuables are sent to The Golden Rule in a prepaid and pre addressed shipping packet that is provided to you by The Golden Rule. The package carrier (FEDEX of USPS) will provide a tracking number and the package will carry a $ 1000.00 insurance policy on the contents. Any value in excess of this will need to declared with The Golden Rule prior to shipping so that additional insurance can be provided.
Q: Why do I need a set of records?
Records that you will create will provide an agreed basis for shipping and insuring your gold. You provide a simple inventory of the goods as well as a piece count. You will need to take a digital group photo ( or equivalent image ) and a basic total weight of your gold items with the hand scale provided. These records are for your protection and security as well as those of The Golden Rule and its shipping insurer.
Q: Why do I want to maximize my total number of items on my inventory list?
You need to provide a correct piece count of the items being shipped. On receipt and opening of your package, the first procedure on the part of The Golden Rule is to count and weigh the contents. This count establishes the initial numbers used in the evaluation. For example: a single earring and its back would be 2 pieces.
Q: How old do I need to be to sell my gold?
You must be a legal adult of at least 18 years in age and have the legal ownership of the gold.
Q: Do I have to provide my drivers license or other government approved identification information?
This information is a legal requirement in many states for purposes of selling your gold. It is used purely by The Golden Rule for record keeping associated with the specific sale. This information is not sold, leased, or provided in any manner to any other party.
Q: What if my information on the labels is incorrect?
Simply provide the correct information on the shipping bag that accompanies your gold. We will change our records to reflect the corrections.
Q: Gold items that I am considering selling have diamonds and/or gemstones in them. What is your diamond and gemstone policy?
When we evaluate your gold, all items with diamonds and gemstones are weighed with the stones in place (Estimated weight adjustments are used as needed for more sizeable stones.) As a general guideline, The Golden Rule does not purchase commercial quality diamonds and gemstones. You are paid what their weight is in gold. These goods are sent directly to the refiner and no stone recovery is provided. They typically have little marginal value.
With midsize, better quality diamonds, the gold items are examined with the diamonds in place. An upward price adjustment is made in the offer you are provided that reflects a reasonable portion of the wholesale value of the diamonds. This offer factors in conditions and variables that affect the price that these diamonds can be sold back into the trade market. This offer also factors in the inherent risk in harvesting stones and the labor involved.
With larger, higher quality diamonds, the gold items are examined with the diamonds in place. On a case by case basis, you are presented an offer that reflects a reasonable portion of the wholesale value of the diamonds. This offer factors in conditions and variables that affect the price that these diamonds can be sold back into the trade market. This offer also factors in the inherent risk in harvesting stones and the labor involved.
As a general guideline, The Golden Rule does not purchase commercial gemstones. With larger, higher quality gemstones, the gold items are examined with the gemstones in place. Those gold items containing valuable gemstones will be examined and valued with an upward price adjustment made in the offer you are provided. This offer factors in conditions and variables that affect the price that these gemstones can be sold back into the trade market. This offer also factors in the inherent risk in harvesting stones and the labor.
Q: I have some unusual and valuable jewelry items that are worth much more than the value of the gold. Will The Golden Rule accept these as donations to my designated charitable institution?
At The Golden Rule, when better goods are received that are clearly of much higher value as a finished piece than the base gold value, there is a different protocol. These goods are evaluated by experts to establish the higher value. This is conveyed to you in place of a base gold offer. If you accept either option and proceed, as always, the funds generated by either the refiner price or the estate offer is remitted in full to your designated charitable institution. All fund dispensation and documents will be provided by the charity.