By Lori Fullbright, The News On 6
TULSA, OK -- A Tulsa business is the first in Oklahoma to be approved by the state Attorney General to pay cash for your gold, through the mail.
It's the same business Crime Reporter Lori Fullbright used to appraise some of her jewelry last month before she sent it off to test Cash4Gold.com.
7/1/2009 Related Story: Cash4Gold Put To The Test
You might remember Cash4Gold claimed they never received Fullbright's jewelry and she was out nearly $300.
Tulsa Gold and Gem has taken great steps to make sure something like that doesn't happen to its customers.
Business is booming at Tulsa Gold and Gems because gold prices are at near record highs - about $955 an ounce. They already serve a lobby full of customers each day, but now will be able to serve anyone in the state or country, by mail.
Getting approved by the Attorney General was no easy task.
"Oklahoma laws are a lot different. Well, a little different than other mail-in companies. They're a lot more strict, a lot more guidelines," said Spencer Fisher of Tulsa Gold and Gems.
Here's how it works: you go to their website, create an account, print a mailing label, sign an agreement saying you are at least 18 and are the legal owner of the jewelry. Then, sack up your gold, send a copy of your driver's license, then go to a FedEx location and send it in. You can track your package from start to finish.
So why should people trust this mail-in versus other mail-ins they've seen advertised?
"For one, our A+ rating with the Better Business Bureau, how long we've been established and we're actually open to the public. We're not hiding behind our website like most of them and we pay more than anyone in the nation for gold," said Spencer Fisher.
To that end, they offer something else unique. Their website shows what the company will pay for your gold, in real time, and it's updated every 30 seconds as the price of gold changes. It's broken down by carat and weight, so there are no surprises.
Cash4Gold eventually sent Fullbright a check for $100, which is how much they insure each package. It was about a third of what her jewelry was worth.
Tulsa Gold and Gem insures each package for $5,000 and to make sure you don't later regret selling grandma's ring, they give you three days after you receive your check to change your mind for any reason and you can return the check and get your jewelry back.
Learn more about Tulsa Gold and Gem.