Precision Refining (www.PrecisionRefining.com) is one of the companies that unknowingly took part in our undercover experiment to determine which â€œcash for goldâ€ company pays out the most.
Before we tell you how well they paid out, weâ€™re providing you with some information about the company, how the process works, and any interesting tidbits that you should know about.
First of all, you should know that Precision Refining has been a BBB Accredited Business since 2008, and they have an A+ rating â€“ which is excellent. This company is based out of Park Ridge, IL, and they buy all sorts of gold, silver, and platinum products, ranging from jewelry to money clips.
There are definitely some good qualities that this company offers:
They use FedEx Express for shipping, so you can be confident in their shipping process. In addition, if your Gold Kit gets lost in the mail, they have an insurance maximum of up to $1,000. You should also know, however, that if you have items that you think are worth more than $1,000, you can call PrescisionRefining.com and have they send a FedEx pickup for you. Basically, you can be pretty confident that theyâ€™ll receive your money.
Their guarantee offer is interesting â€“ although itâ€™s a little confusing to understand in our opinion. Letâ€™s say youâ€™re testing out two different â€œcash for goldâ€ companies to see which company will give you the best offer (one of which is Precision Refining). If you receive a higher offer from the other â€œcash for goldâ€ company, Precision Refining will pay their original offer plus 150% of the difference between the two offers.
They move really quickly to get you paid â€“ which can be both good and bad (weâ€™ll tell you our opinion below). They usually analyze the gold that you send in within six hours after they receive the gold kit that you send in to them. Also, you can literally get paid the same day that they receive your gold shipment.
If youâ€™re satisfied with their offer, you can accept the offer online; if you arenâ€™t satisfied with their offer, you can ask them to mail your stuff back to you.
As for the results of our experimentâ€¦ Precision Refining actually did pretty well, offering us $208.41. The problem, however, is that they made an electronic offer, and they only gave us 24 hours to make a decision via email before the offer was to be considered â€œfinal.â€
Essentially, if we didnâ€™t get to the email in time, we would have been given no other choice but to sell out items to this company. Needless to say this was a little disconcerting. Here are pictures of our interaction with themâ€¦