reDollarReviews of redollar.com

Response from reDollarJul 26, 2022

In the customer’s latest transaction, he submitted a small amount of already melted material. Our laboratory performed an initial test and found that one button he sent was only gold-filled, not solid gold. We informed the customer about the risk that melting his material would result in a very small payout amount. We do this to give customers the option to have their items returned in the same condition as received without melting/damaging them. The customer agreed to the risk and asked us to proceed. After melting, the payout amount came to $385.71, which the customer was not satisfied with. We again offered to return the material if he no longer wished to sell, but he wanted us to proceed with the payment. Our company profit before cost on that transaction was approx. $39, so returning the submitted merchandise would have been better for both our customer and our company. The customer has sold precious metals to us multiple times over the last several months. In the beginning, the merchandise we received was NOT in melted condition, so we could return any material of little value. But then the customer started melting his material himself, which meant we could not separate out worthless items to return and offer a better understanding of what is and isn’t valuable. We find honesty and transparency extremely important, which is why we offered multiple times to return the customer’s items—not because we don’t want to deal with low-value transactions. We do this to give our valued sellers the option of having their items returned (for free) rather than getting paid an amount of money they are not happy with.

Response from reDollarSep 4, 2020

Thank you for your critical review. When we received your class ring there were still remains of the center stone in the mounting, which suggests that the stone was not dismounted properly. We provided you with a photo to explain the weight deduction. We deducted 1.11 grams for this center stone residue, but your pre-calculated weight also showed a deviation of 0.50 grams, resulting in a total weight deduction of 1.61 grams. Transparency is our top priority, which means we are happy to provide our customers with detailed photos to explain potential uncertainties. We work hard to do everything in our power so you feel comfortable and involved in our process.

Response from reDollarJan 9, 2020

We have offered the customer various payment options, as we have referred him to the “GET PAID” section of our website, where we list nine payout options. Only one of these payment options was not available for a reason beyond our control. If the sales volume is lower than $60, we recommend fast and cost-free payment options that are in the best interest of our customers. We have offered the customer a free and fully insured shipping option that is appropriate for a low sales volume such as his. Since we offer very high payout prices with 100% free services, we are unable to offer fully insured next-day or two-day shipping options for sales volumes lower than $60, as this is inefficient. We offered the customer a free melting analysis to which he agreed. The customer had the option to decline our offer and have us return his items fully insured at our expense. We don’t know of any refining company in the country that pays for determined gold with an amount of 0.6%, as the refining costs to extract this low gold amount are significantly higher than the value of the extracted gold material itself.