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Frequently Asked Questions




Why should I use Augustus?

We are everyday people, and we understand the hardships many people are experiencing due to the economic riptide our country is caught up in. We present an opportunity for most people to tap a resource they have not previously considered because their old or broken gold jewelry has been sitting around and has been long forgotten.

Augustus' new proprietary system- our Triple Advantage Process, ensures higher levels of client satisfaction than ever before.

The first element in the process is our Price- Augustus publishes our prices with live updates for everyone to see. Research shows that our standard pricing structure pays up to 300% more than our largest competitor's prices. Also, we recently instituted a progressive payout system to offer clients an opportunity to earn up to 40% higher payouts for larger quantities of gold!

The second element in our Triple Advantage Process is 24hr processing. This means that we will process your package within 24hrs of receiving it. Electronic payment options also enable us to make same-day payments. The time is marked when your package is analyzed, and the "Strike Price" is determined by the market's spot price at that moment. Augustus will not sit on your items for 3-5 days like some competitors who look for a nice dip in the price of gold that is favorable to them before issuing the strike price for your items.

The third advantage to our process is our 100% Satisfaction Guarantee. If you select "Standard Processing," we will Call and/or email you with your offer as soon as it is ready to let YOU DECIDE if you want to accept the offer. If we are not able to reach you twice in 24hrs, we will send your payment via check. Once you receive the check, you will have 10 days to decide whether to cash it or send it back. Augustus also lets you choose- At your option, you may select "Express Processing" to bypass the offer phase and have payment issued immediately.

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How do I know I can trust anyone for a transaction like this?

We have never had a lost package. The contents of your package are kept in strict confidence and will only be discussed with the person whose name appears on the package. If, however, you leave a phone number with us that goes to an answering service that can be heard by others, please understand that we will likely leave a message on your voicemail or answering machine with our offer for your items inherently disclosing your business with us. We provide shipping at our expense, and packages are insured for up to $1,000.00. (FedEx may require proof of purchase or other evidence to substantiate claims. Go to www.FEDEX.com for more info.)

Augustus offers higher payouts than our competitors, and we strive to offer our customers the greatest possible service in the shortest time possible. Our business is incorporated in the State of Missouri, and we have never had an unresolved complaint.

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Why would you allow Google to place ads for your direct competitors right here on your website- Aren't you worried I might go somewhere else?

No, not at all. We want our customers to make an informed decision about which company to choose for their precious metals transaction. We are well aware that we have very large competitors that many people know by name, and we think everyone should check them out. Most of them do not post their prices, and almost none of them will contact you with an offer for your items like we do. After sitting on your items for a few days hoping the price goes down, some of our largest competitors will cut you a teeny, tiny check and mail it to you hoping you're desperate enough to cash it. They don't worry too much about people talking about how little they pay because they know that anyone who knows enough about the precious metals market to know that they just got ripped off doesn't want to go bragging to their friends about it! Augustus will call you with your offer, and WE PAY up to 300% MORE THAN THE GUYS WHO ADVERTISE ON TV!

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How do I send in my jewelry? Will it cost me anything?

On our Get Started Now page, you will fill out a web form with your address and payment information. When you click on the button to submit the form, you will be directed to a page where you can print your packing slip/instructions, a Pre-paid FedEx Airbill, and a list of the nearest dropoff locations in your area. You can also schedule your package pickup with FedEx at no additional cost to you!

If for some reason using FedEx is not practical or perhaps you are one of the hundreds of thousands of people who work for one of the other guys (US Mail, UPS, etc.) you may select the carrier and shipping method of your choice, and we will gladly reimburse your shipping and insurance expenses up to $20. Packages sent with our pre-paid shipping label are insured for up to $1,000.00.

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Is it safe? How will I know you got my package?

Yes, it is very safe. Augustus has never had a lost package. One of the great advantages to using FedEx is that they will issue you a tracking number for your package so you can track its progress to our facility. A link on our Home Page will take you directly to FedEx's Package Tracking page, where you can locate your package immediately.

We encourage our clients to keep a copy of their written inventory form and to take digital pictures of their items before shipping if it is practical. These items could be helpful if you ever did have to file a claim with the carrier for a lost or damaged package.

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How do I know if my gold is real?

The easiest preliminary method involves using a strong magnet. Real gold will not stick to the magnet, but on almost all necklaces and some bracelets, the clasps will stick to magnets because they usually contain a spring made of steel. While magnetic attraction does indicate an item is not genuine gold, lack of magnetic attraction does not necessarily mean that an item is real. Because non-ferrous metals (primarily copper) are used as alloys in karat gold, these metals are often plated with gold to create counterfeit pieces which are often stamped with karat hallmarks.

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What do the karat marks on jewelry mean?

Gold

Most gold and silver jewelry items have a hallmark which denotes the purity of precious metal. For gold items you may find markings such as 10K, 417, 14K, 585, 18K, or 750. For silver items, marks such as 925, 950, and "Sterling", are common. These marks indicate the actual percentage of the net weight of gold or silver in an item. While these marks are usually legitimate, we do sometimes come into pieces which are marked with a higher karat weight and some that contain almost no gold at all.

  • 10k- 41.7%
  • 14k- 58.33%
  • 18k- 75%
  • 21k- 87.5%
  • 22k- 91.67%
  • 24k- 100%

The most common gold jewelry items from the Western Hemisphere are made from 10k and 14k gold, although there is a significant amount of 18k gold found in finer jewelry. In the Eastern Hemisphere (India, UAE, Saudi Arabia, Dubai), higher karat jewelry such as 18k-24k is very common.

24K gold, often referred to as .9999 Fine Gold is typically found in the form of bullion- "bars and rounds," or gold bars and coins of various sizes and weights. We pay significantly more for bullion items above our typical scrap jewelry prices. Bullion prices are also listed on the What we Buy page.

Silver

Silver items are usually marked by an assay office as .925 or "Sterling." The important thing to realize about silver is that items which have hallmarks indicating that they are "weighted" or "reinforced" are packed with cement and/or other metals as stainless steel to make them stronger. In sterling flatware sets, usually every piece is solid sterling except for knives, which typically have stainless steel blades and cement filled handles, and serving utensils with like handles. Each of these items usually contains very little silver (about 15g on avg) because they only have a thin layer over the handle- thinner than a drink can. Candlestick holders and some other items have large bases which are similarly filled with cement.

Sterling Silver items are melted to get an actual weight on the silver, and this should be considered before sending them in if you think you may not want to sell them. We will remove the cement and reinforcements to get accurate weights, and in some cases the metal must be melted and re-cast to remove significant foreign substances before accurate weights can be attained. If you are not happy with our offer, your items can be sent back as a rough silver bar along with the elemental analysis of all the metals present and their exact percentages.

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What do you do with the stuff that is not real?

For clients who have selected "Standard Processing, when we call you with an offer for your items, you will be informed of any specific items which were known to not be genuine precious metals. These items can also be sent back to you if you wish- just let us know when you accept our offer. If we are unable to reach you twice, a company check will be issued, and we will send the items back along with your payment.

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Do you accept Dental Gold?

Augustus does not accept dental gold under any circumstances. We are fully aware that all our competitors will take dental gold, but we feel that we would be doing a great disservice to society by doing so.

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What is the difference between an ounce and a Troy ounce- and what is DWT?

This can be a bit confusing, but that’s because so many in our industry want it to be confusing to you, so we will try to clear things up:
Precious Metals are measured in Troy Ounces, while almost all other items in the U.S. are measured in "Avoirdupois," or regular, ounces. A Troy Ounce (T oz or ozt) is made up of 31.1 grams, whereas an Avoirdupois ounce (oz) is 28 grams.
DWT is the abbreviation for ‘Deadweight’ and is commonly referred to as ‘pennyweights.’ There are 20dwt to a Troy ounce, and also 20dwt to an Avoirdupois ounce; however these are different because of the difference in the weights of a Troy ounce and an Avoirdupois ounce (31.1g / 20 vs. 28g / 20). The use of a larger unit also works in favor of the gold buyer because it is a given that most buyers will take the advantage in rounding down on weights. A gram is a more accurate unit of measure, and a gram is always a gram; that’s why we use it as the basis for our unit of measure.

Most anyone who will offer you their prices obscure the truth about how little they actually pay by trying to confuse people by stating the price in dwt. A price published in dwt appears to be 55.5% higher than a price published in grams due to the difference in weight. We state our prices in grams, but also offer the dwt price for anyone who is trying to compare our prices.

Buyers Beware: You should never trust gold buyers who refuse to tell you how much they pay for Gold and Silver! People will give any number of excuses as to why they need to see your items… they have to be sure it’s real… need to see what kind of ‘resale value’ it might have… they need to be sure it’s not damaged… it has to be the right ‘style.’

Whatever they tell you, make no mistake that they have made it a matter of their policy to not give prices over the phone because they want you to come to their store. Once you are there they can size you up and decide if they think you know anything about what you’re trying to do. That way they can decide how little they can get away with offering you, and their biggest hope is that you need the money so bad that when they pull out some cash you’re going to take it, no matter how little it is. Some people think there is no shame in trying to make a profit, but that kind of business is just criminal!

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How much will I get paid?

You will be paid based on the net weight of your gold or silver, and the price of each transaction will be determined by global price of gold or silver at the time your package is processed. The markdown component for scrap is due to the expenses incurred in operating our processing facility and refining facilities.

Augustus pays at least 55% of spot for gold and 65% for silver! Some of our competitors pay as little as 11-31%, and local pawn shops usually only offer 25-35% of spot for gold. Many of them have so little interest in silver that they will offer much less than that, or no offer at all! These numbers are corroborated through continual research we do on leading competitors. We receive reports from their customers, read accounts of people performing blind tests on them, and we frequently make random calls to local businesses we are acquainted with to check their prices. Augustus believes that our integrity is our greatest asset. We encourage our clients to price shop our competition!

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What is the difference between Standard and Express Processing? And what is Default Processing?

If you select Standard Processing, after processing your package, we will contact you with our offer via the phone number and/or email address you provide. This method of processing is designed for those who may be skeptical of the process, or who may have an offer on the table from another buyer. Clients considering this option should know that 98% of our clients accept our offer when we contact them, and selecting Express Processing may result in them getting their payment 1-2 days sooner than Standard Processing.

Express Processing speeds up the entire process because it allows us to send your payment without contacting you with our offer. This option is designed for those who affirm that they have read our FAQ section and understand both how we process your items and how your payment is calculated. When a client selects Express Processing, payments are distributed the day items are processed. Packages containing coins require Standard Processing due to the time it takes to properly evaluate them.

Default Processing occurs when a client selects Standard Processing and we are unable to reach them with their offer. If we are unable to reach you twice in 24hrs by phone and/or email, we will mail your payment via company check. This will happen automatically, regardless of what form of payment you requested. If you receive a check from us by Default Processing and are unhappy with the amount, you will have 10 days in which to contact us to arrange to send the original check back, and we will send back your scrap gold, scrap silver, or coins.

  Standard Processing Express Processing
Free FedEx Express
Shipping
Shipping Insurance
& Package Tracking
24Hr Processing
Elemental Analysis of
Metal Contents
Company Check,
PayPal or Direct Deposit
100% Satisfaction
Guarantee
Payment Amounts up
to 3X our largest Competitor
We'll Contact You with
our Offer Before Issuing Payment		  
Expedited Package Processing Each Day  
Progressive Payouts with up to 40% Bonus Pay  

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How do I know I'll be happy with your offer? Do you have a guarantee?

This is one of the greatest differentiating factors between Augustus and most of our competitors. If you select "Standard Processing" on your web form we guarantee that will call you with your offer as soon as your order is processed- usually within 24hrs of receiving your package to let YOU decide if you like our offer! If we are unable to reach you twice, after 24hrs your order will be processed, and a check will be mailed to the address you provided. If you are unsatisfied with the amount of your check, you have 10 days from the date on the check to return the check and we will ship back the nugget or bar made from your items along with the elemental analysis of its composition.

For those who feel comfortable that they understand how we calculate the value of items and who may have selected the "Express Processing" option, we will simply mail your check immediately after processing avoiding the chance that we could play phone tag for a couple of days and ultimately delaying your payment.

Most of our competitors who want to pay you a pittance for your treasures. They process your items and mail you a small check and hope you lost their phone number! At that point, they have also been reported as to making the return process seem somewhat impossible, so their disgusted customers take their little checks to the bank and hope none of their friends find out how bad they got taken in.

Augustus wants you to tell all your friends about the experience you had with us, so ask about our current referral programs! All of the testimonials on our site are real clients with real stories.

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How can you afford to pay so much more than your competitors?

We have arrived at a testing process that is fool-proof. When a gold buyer buys one bad piece of jewelry (such as gold plated or gold-filled), it can take processing dozens of more items to make up for the loss of that one item. We decided to cut out the loss and share our higher profits with our clients. This testing method is the same method we would use at the end of each day to determine how much gold we collected for that day, but for testing purposes we have broken it down into individual lots.

It is important that you not send in jewelry and other items unless you consider them "scrap." This is because your items will be melted after the original assessment to remove non-precious metal pieces to obtain the exact purity level using XRF (X-ray Fluorescence) Technology. The XRF analysis breaks down the complete analysis of what metals and in what percentage occur in the composite bar. This does not apply to packages which contain coins.

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What if I change my mind or don't like your offer?

If you are not happy with our offer when we phone or email you, we will gladly ship the melted scrap items back to you along with the elemental analysis from the XRF assay. If we are unable to reach you by phone and/or email two times within 24hrs, we will mail a check to you at the address you provided. When you receive that check, if you are not happy with the amount, you must contact us within 10 days of the date your check was post-marked to work out the return of that same check and your items. When we have received back the original check Augustus sent you, we will ship the melted items and/or coins back to you.

If you are not happy because your items were found not to be genuine through testing and the offer was nil, we will be glad to send the items back to you (you may be required to send payment for freight if items weigh over a few ounces). If you have a zero offer and we are unable to contact you by phone, we will hold the items for 30 days- after which, they will be discarded.

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