A Gold Buyer for the Rest of Us
You just can’t seem to turn on the TV without being bombarded by companies wanting to “BUY YOUR GOLD!” Amazingly, all of these companies manage to pay “TOP DOLLAR” for your items. A fact clearly supported by their elated “customers” waving wads of cash and describing the ease and profitability of the transaction. Just mail your gold to them, wait for a cheque then cross your fingers and hope for the best.
But for all their cheesy lines, these “cash for gold” companies are right about one thing, the skyrocketing price of gold has people wondering how much their gold jewellery is worth. With the price of gold breaching $1,200US, there’s undoubtedly a new generation of middle and upper-middle-class consumers looking for an intelligent alternative to pawnshop-style, “cheque in the mail” companies.
Recycle Frog is an Ottawa-based precious metals recycling company, comprised primarily of ex-Royal Canadian Mint employees, that has built its business by servicing a more sophisticated consumer. “In the early 90s, with the price of gold hovering around $300/ounce, pawnshops were the only ones buying gold, and their primary customer consisted of people desperate for fast cash,” said Matthew MacQuarrie, President, Recycle Frog. “Since then, the price of gold has quadrupled, reaching all-time highs. Now, middle and upper-middle-class consumers are interested in selling their items, yet the vast majority of gold buying companies still cling to a pawnshop-style approach to business. These companies continue to neglect a huge segment of the population – those educated consumers who demand a fair, transparent service.”
Building consumer confidence and gaining trust have been cornerstones for Recycle Frog’s success. Customers can schedule material evaluations at their World Exchange Plaza office and receive an in-person experience that sets them apart from their competition. “Being able to sit with an expert is incredibly important to our customers. We don’t take their material into a back room, or tell them to come back in an hour,” said MacQuarrie. “They want to look us in the eye and ask questions all in a comfortable, safe environment. So that’s exactly what we’ve given them.”
This in-person experience isn’t Recycle Frog’s only differentiator. Their payout rates are consistently 15%-20% higher than the industry average. To prove it, they enlisted the help of PricewaterhouseCoopers to perform independent payout audits – an industry first. This means Recycle Frog is held accountable to ‘pay what they say’. No one else in the industry stands behind their service in this bold way. Recycle Frog is also active in the community, organizing “Gold Drive” fundraising events that support numerous charitable organizations including CHEO and the United Way Ottawa.
Recycle Frog represents a new type of gold recycler, serving a new type of consumer. So if you’ve ever wondered how much that old or broken gold jewellery was worth, there’s one thing for certain, it’s never been worth more.
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