GoldFellow.com review: Goldfellow.com - STAY AWAY!!! 21

My complaint refers to a post on your site regarding our company, GoldFellow.com. Below is my response to Amy, who made these false accusations.

Hello Amy,

I am the founder of GoldFellow and would like to respond to your malicious post. I found your comments to be interesting to say the least. Please provide me your customer number to identify who you are.

Regarding your charges:
1) GoldFellow provides real time tracking, something you would know if you tracked your package
2)EVERY package received is graded and settlement posted the same day as it arrives.
3) There are no "Male Supervisors" employeed at GoldFellow or any other supervisors.
4)If a customer declines our offer we return their valuables via Fedex immediately, therfore providing tracking.

I certainly could be mistaking, but my guess is you are likely one of our competitors attempting to discredit us rather than provide the quality service and honest pricing that GoldFellow prides itself.

You are welcome to contact me directly to discuss this further.

Sincerely,

Michael H Gusky
President
GoldFellow

Added comment.

I too received an absolutely ABSURD offer for my 14K gold jewelry from 'Janis' at Goldfellow.com

This person offered me $200 for 25 grams of 14K gold (52% pure), that as mid-morning today, was worth $450+ spot price.

They then offered me $0.33 for the Silver content of the other 42% recoverable metals from the remainder, which I pretty sure would'nt even be mentioned unless I'd asked!

These people are THIEVES and should NOT be trusted under ANY circimstances!

AMY is right!

They are NOT paying top dollar for your gold...they are paying you the LEAST amount possible!

They even STATE IT outright, not only on their website, but in their e-mail offers.

So unless you POOR PEOPLE out there have 50 ounces of gold jewelry out there to sell this man...you'll NEVER see "top dollar".

Yep, you read that correctly...FIFTY OUNCES!

Check it out:

http://www.goldfellow.com/gold-prices.aspx

This man sold his gold jewelry manufacturing company to Warren Buffet recently because he found an easier way to become EXTREMELY wealthy in a very short period of time.

http://southflorida.bizjournals.com/southflorida/stories/2008/04/21/story8.html?b=1208750400^1621554&surround=etf

By cheating American's security in an economic collapse and counting on people's desperation for immediate cash...or like this poor woman before me, to purchase gifts for her children.

This company and other refining companies JUST LIKE HIS are using the ever increasing market values of Gold and Silver to "relieve" unsuspecting POOR PEOPLE of valuables.

Significantly cheaper for this man to buy YOUR GOLD than having to purchase it through the market trades.

I mean really...

Why buy gold for $965/oz (mid-morning today) when he can buy your gold for 1/4th of that amount OR LESS?

And THEN, reap another undisclosed amount for the other metals that he'll recover from YOUR GOLD.

He'll "probably" then refine that gold, silver and other metals that are recovered and have them made into bullion and/or coins, by minting companies, which are presently selling on the open trade markets for an average of $1400 PER OUNCE for gold bullion coins, alone!

(Average price taken from bullion/coin dealers and mints, on-line)

Reaping MASSIVE profits from your "unwanted" jewelry.

And then claiming that his business practice is "HONEST PRICING"?

"I certainly could be mistaking, but my guess is you are likely one of our competitors attempting to discredit us rather than provide the quality service and honest pricing that GoldFellow prides itself. ..."

Welcome to the 4th Reich, people.

It's Nazi Germany all over again.

The elite wealthy are about to collapse the American dollar when they own all of YOUR GOLD and precious metals...

Gold & Silver will SKYROCKET and the dollar will fall!

http://www.exodus2006.com/Fab3/stockmarket2.htm

http://www.exodus2006.com/

Making America...EGYPT.

And YOU, the Isrealites.

Metatron

(A.K.A) Elijah

I sent my package of gold to Goldfellow via their instructions. It was very simple to do. Immediately upon receipt they let me know the had received it. Later they emailed that they had viewed it and had a offer for me. I got online and checked the offer and it was not what I had hoped for. Most of my gold was wearable and I know this is not what they are looking for. I declined the offer. The next day I got an email that if I didn't respond they would send me a check. I called and the person I talked to was very nice and apologized for the email and said they had received my decline. A few minutes later another person called and they offered me more but I still didn't want to sell for that amount. They very cheerfully said that they would have my gold in shipment via Fed Ex the next day which they did. They also called with the tracking number.

Even though I didn't get the amount I wanted (and maybe I wasn't being realistic) I had a very good transaction with them and would send gold to them again. The next time I will try to mostly have scrap which is what Goldfellow is in business for.
S. Easton

I have recently been looking into selling scrap gold and it seems like metatron should have looked more carefully at the goldfellow website and been more realistic about whet their gold was worth.

Most dealers, if you only have a small amount of gold will pay less than 50% of its value. If you look on the page at goldfellow that says how much they pay for under 20 pennyweights (which it seems is what metatron had) the amounts work out about right.

That is not to say that you are getting a very good deal. You aren't really - but as far as I can see goldfellows does give you more than a lot of the other gold dealers do and unless you start refining it yourself, you don't really have any other choices.

I just wanted to add that I also went to the BBB and looked them up and they don't seem to have any complaints made against them at the present time.

If you do have a legitimate complaint it definitely helps everyone if you do report it to the BBB

I am also a Gold Dealer in South Florida, I know many companies here and other states that are out for your gold, but in defense of GoldFellow even though I don't know them personally I do know that they are a very legitimate and honest company, in fact when we do gold parties and people are not satisfied with our offer, I refer them to www.goldfellow.com, because being in the business I feel they are the only one to trust.
The prices that you see advertised on their site are normal everyday prices paid for scrap based on spot. First you have to understand the process, just because gold is over $900 it does not mean that you'll get that price. There is a process to it, first it is very rarely that you will have 24k pieces, second the gold you sell has to get processed, recycled and there is only a certain percentage of your 14k gold will become 24. The refining process is not cheap, plus there is overhead and other expenses for the company. I don't see anyone complaining when they buy a $2000 Plasma which costs to make only maybe few hundred dollars if not less, but the reason it is $2000 is because you have to consider overhead for the company that made it, taxes, shipping, resellers, etc.. and the same for everything else.

If you want to sell your gold for spot price, than you first need to refine it, turn it into sellable bars or mint it, maybe than you can sell it for spot price and even than I would doubt you would as you need to allow some percentage for the company that will buy it from you to also make money.

Remember it is a process and all of us in the business are very compatible in pricing, some maybe a bit less some a bit more. Of course there are companies that will reap you off as they pay pennies for your gold. Do your homework before selling your gold, Get few offers first before you decide to sell. Our company guarantees clients 110% to beat legitimate offer, any offer you get we will match it and give you 10% on top of it, so you should ask for nothing less from the company you decide to sell your gold and ask them what guarantee they will offer you.

If you have any questions about selling your gold, you can visit us and or contact us at www.goldpartymagic.com.

I made a transaction with Goldfellow but NOT via mail I went to the location in Weston in South Florida.The service was very profesional, they had a security guard onsite .

The attendant tested the jewelry she explained to me what she was doing and then showed me a chart they had printed that day from the web saying the value of gold at that moment, then she told me what they would be giving me for the jewelry and aked if I wanted to do the transcation. Good experience.

Metatron : i do not think u should adresse your disagrement wiht POOR PEOPLE im just saying u should make it sound a liittle better. i have a problem i need to know wether i should go to cash for gold for gold fellow to get extra cash where do u think i should go for the reasonanable amount of money that wont rip me off. you guys should reaally let me no

i cant believe how this place gets quoted in a bunch of press> I found a really nice place that"s actually offering top dollar for your used gold www.ManhattanBuyers.com

GOLDGREEDYFELLOW OFFERED ME $134 FOR MY GOLDS AND SILVER WORTH OVER ONE THOUSAND DOLLARS? HAHAH I LAUGH SO HARD ON THE FLOOR AND TOLD THEM TO RETURN IT BACK MY ITEMS! THEY ARE FROM FLORIDA AND I CAN TELL THEY ARE LOW ### LIVING THERE LIKE THEY ARE GREEDY PIRATES SMOKING CRACKS IN MIAMI AREA! DUMB ### MONKEYS!

I have had about 5 experiences with goldfellows and found in these first 4 transactions that the price was reasonable and acceptable...however I sent them a gold bracelet weighing some where in the neighborhood of 20oz ..now My understanding is that 1 oz of gold is equal to 18.2291667 dwt or pennyweight...and that is what the price is based on is pennyweight. In My conversion therefore 20 oz then would equal about 365 dwt. Now I was offered 777.00 for this bracelet but I feel that it is worth much much more. I called to inquire about the offer and was told that the large bracelet only weighed 2 oz or about 38 dwt... this is redicious ! when I sent the package thru FedEx the total package weighed 30 oz. Are you truely telling me that the packaging weighed 28 oz's? I think NOT! I do wish someone would do a futher investigation on this claim and advise Me...because I felt goldfellows was a place to trust ...but guys...I have lost this trust after the last time.

People often expect way more than their gold is worth. You are not selling bullion but jewelry that has to be processed. I have had good and reputable experience with Gold Fellow. And profane, ranting comments by some have no credibility with me and shouldn't with you.

Gosh, I just sent my gold and silver in today. After reading all the complaints, I hope that everything will go well. I will keep you informed.

My husband had been laid off and we were desparate to scrape together money for our bills. Living in Alabama the amount of his unemployment each week is $280.00. The first transaction my daughter sent was over $300. which was very much needed. Over the next 2 months my husband sent 2 more shipments. The first was low but we didn't really question, the second one was even lower and he rejected the offer. We get a call offering more, he requested photographs of the items being weighed or documentation proving the weight. After 2 emails that was basically stating the weight, they sent photos of the items on the scales. By this time they had deposited the amount of the last offer in our account. I questioned the photos because they had placed a piece of paper with DWT? handwritten on it across the top reading on the scales. Their response was the photos were the best quality they could do. They would not address the paper. They stated they would place my items in the safe and my husband could send a cashier's check to them in the amount they had deposited and they would return my jewelry. Needless to say the money had already been applied to bills by this time and we haven't had it to send back at this time. We are at a place again needing extra cash, I began checking online and researching gold buyers. I discovered on goldfellow.com they quote the current market price of gold in troy ounces, but the amount they offer to payout is in pennyweights(DWT), not grams. For an example: today's quote is $1297.00 per troy ounce. To calculate per gram divide 1297.00 by 31.1035 and round up. It equals $41.70 per gram. Take that amount and multiply according to the Karat of your jewelry 10k=.4167 ($17.38 per gram) 14kt=.5833($24.32per gram). These amounts look good when compared to goldfellows quotes 10k -$14.42 14k-$20.18, but their quotes are per pennyweight (dwt).
31.1 grams =1 Troy oz. 20 pennyweights=1 troy oz To find out the percentage of the market value they are paying you would have to convert. Since 31.1grams =1 troy oz and 20 DWT=1 troy oz, I divided $1297 by 20 and followed the same process. The price per pennyweight for 10k=$27.02 14k= $37.83 Goldfellow's payout is approx. 53.5% of the market quote of the day. I think they are deceptive because the photos looked like they were trying to hide something plus I had weighted the items on my scales and I had also compared my items to like items on their website for approx. weight. When my husband rejected the first offer and they called with a higher offer it was all very questionable. I personally wish I had every item back we sent to them or I should have researched everything more carefully before sending anything. t. stanfield

People do not realize that companies like Gold fellow have large costs, such as paying the refinery (refing costs are NOT cheap), overhead, employee's salaries (do you want to work for nothing), shipping and insurane costs, advertising (not cheap), internet costs, etc. etc. All these costs must be factored in and yes this is a FOR PROFIT business. I know of no gold dealers that buy gold on a non-profit basis. Face it. Any business is there to make money! Gold fellow can show a profit while still paying you the best price you will probably find anywhere. Be realistic.

People need to understand the business before running their mouth and bashing a company like GoldFellow. One thing i suggest you do is to first understand how the payout works. It's on the the GoldFellow website,

1. how many of you took the time to read the formula?
2. just because you have a 14k gold bracelet doesn't mean the piece is 100% gold
3. Yeah the price of gold is high unless you have a 24k pure gold bar don't think you will get the full price for it.
4. Just because you bought a piece of jewelry that worth $500 does mean you will get $500 for it when you decide to sell it when you need money. It doesn't work that way.
5. Before you post negative comments and try to ruin someone or a company good reputation EDUCATE yourself first then you can post and try to sound like you now something it's like they say IGNORANCE IS BLISS.

To say the least i have dealt with GoldFellow and i can tell you with them " WHAT YOU SEE IS WHAT YOU GET" it's all right there on their website. I have been a repeating customer for a while now and i can tell you they are true to their words. You have to keep in mind that they a "PROFIT" organization not a "NON PROFIT". Let's be real here if you try to sell something to anyone and you do not agree on the price just don't sell. IF they call and offer you more money is because they care and most other companies which i will not name names will simply give you a set price and that it, they are trying to keep you as a customer or even offer you a little bit more.
one thing to have to keep in mind is the following: they are a lot of fees you have to pay to run a business like this.

1.Refining cost
2.employee cost
3. shipping cost (which GoldFellow provides without any cost to you)
4. Internet cost
5. building cost

that is just a few, again before you bash a company please educate yourselves then you will see that it is just a simple as it is on the their site. Fortunately for me whenever i need to sell something i just walk it in to their store.

One last thing you have to keep in mind is just because you have gold item unless it 24k pure gold doesn't mean that it is 100% gold.

EDUCATE YOURSELVES

Craig S.

Davie FL.

I do not understand why people are complaining. Goldfellows is a fair reputable company that offers fair compansation. When you buy jewelery in the United States the mark up is at least 400-600 %.Like the fella before said, understand the process or making 10, 12, 14 kt jewelery into .999 bars is costly. The cost is shared between the customer and the buyer. The customer gets a larger profit than the gold buyer and it's immediate payment. Educate yourself and stop complaining. Now their are some gold buyers who pay very little, I heard some pay 8 to 30 % range, this I would agree is cheating the public, but than again folks don't take the offer. I would say a range of 50-70% is very fair. Retail businesses do it all the time. They mark up your groceries, toys, tv's 100-300% folks. Lets get a life and move on.

So, how in the world DOES one go about finding a reputable buyer who'll pay a fair price? Unlike some who've posted comments/complaints here, I'm not desperate (not YET!) to sell my gold, and it's not gold jewelry I'm looking to sell, but gold proof coins (2006 Gold Buffaloes, one ounce each, bought directly from the U.S. Mint, with Certificates of Authenticity included, to be exact). With gold at an all-time high, and Christmas right around the corner, we could use the extra cash (although, as I've stated, we're not "desperate" to sell at this point). I'll probably go through eBay if I decide to sell, but any comments or advice would be appreciated.

You can only expect to get back what a piece of jewlery is worth in its gold or silver content... just because it has grown dear to your heart or it's an heirlom that's your deal in all reality. If the offer a gold buyer offers you isn't what you like than walk... I've dealt with GoldFellow and they have been professional and honest. I will keep doing business with them.

I have dealt with Goldfellow many times, and have referred numerous friends, and family members. They are the most honest and professional company you that will ever come across. ALL of my referrals have had the positive experiences. Unfortunately there are jealous competitors out there who can post anything they want to try to hurt another company.
I noticed that Mr. Gusky himself responded these threads, that says it all. I would not only trust this man to buy my gold, I would trust him to baby sit my children. That says it all.

I grew up with Michael Gusky. He went to my first communion and was always extremely interested in cultural diversity...Him being Jewish and my family Catholic. Our families traveled to North Carolina together and it was about this time that his father began a scrap metal business. Aluminum was his father's Holy Grail and how ironic that gold became his son's. Haven't spoke to him in over 35 years until this morning receiving a call from his sister Debbie, that I also haven't spoke to in over 35 years. This is a man who's family started from humble beginnings and through hard work and perseverance attained the "American Dream" . So, although my comments are irrelevant as to current conduct code's observed by Michael, I would find it extremely unlikely that the negative allegations would survive the light of day.