Gold Max
Paid $15.55 a Gram for 14k Gold, Under Half Value

Many gold buyers exist these days, so to save time I decided to phone ahead and ask what they would pay for a particular quantity of a specific karat of gold. I called the corporate office number and asked what they paid for X grams of 14k gold scrap. They said gold prices shift daily, so I had to bring my gold to a store to have it tested, weighed and valued at the CURRENT MARKET VALUE.

Those final three words caught my attention, so I went there by car. The company claims to pay the top price for gold, hence the name GoldMax. What a lie!!!
I know I could have refused their offer and taken my gold home, but I am dyslexic, and numbers take me longer than most people. Thank goodness I brought only a small part of my scrap.

They recorded my driver's license details and took my fingerprint. I had no objection. I was told it was to stop thieves from bringing stolen gold. Yet it accomplishes nothing when they do not keep the gold for even 24 hrs after getting it (I learned this later). The sales clerk mentioned in passing that I had been their only customer all day. Closing time was arriving at the store as I walked out.

The day I sold, 14k gold was selling for 33.15 dollars per gram. I mentioned this, and they replied that pennyweights are the unit used for measuring jewelry, which explained why our numbers were far apart. Being dyslexic, I assumed the mistake was mine. At home, though, I entered the figures into a converter meant for scrap jewelry, using the current market price of 14k in grams and pennyweights. They had paid me 15.55 per gram, and I was shocked to see they had not paid even half of the value.

Since the clerk had said no other customer came in all day and they closed just after I left, I figured I would go back when they opened the following morning and return their check in exchange for my scrap. There could be no doubt which gold was mine, because I was the sole customer, and surely they keep each person's gold apart, or what is the point of the fingerprint and license information?

The next day I was the first one through the door. I requested my gold back and offered the check they had handed over (cash is never what they pay with), and was informed that all my gold had already gone to Atlanta for processing (under 24 hrs). So the fingerprint and license information does nothing to prevent the sale of stolen gold!!!

Once more, I know I could have declined their offer, and I accept part of the blame. But understand this: Gold Max ought to be called Gold Less. Expect to receive under half of what your gold is worth, and these people could careLess whether stolen gold is what they buy. The fingerprint and driver's license information they collect is a sham, since the gold cannot be traced less than 24 hrs after purchase.

One more thing

Gold buyers who work through the mail also allow you to get your gold back. Here is what the website of one such buyer says: if you do not want to accept the check and wish to have your items returned, you must phone (888) xxx-xxxx and tell a customer service representative that you reject it, no later than ten (10) days after the check date. That means these buyers keep the gold at least 10 days!!! GoldMax keeps it for under a day. Buyer beware. Think hard before mailing your gold to any of these operations or doing business with the ripoffs at GoldMax... Excuse me, GoldLess.

Company: Gold Max
Country: USA
State: Texas
Phone: 8774653629
Site: goldmaxusa.com

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