Business ProfileforMidwest Refineries, LLC

On May 29, 2024 I mailed Midwest Refineries, LLC (MR) the following scrap gold: 7.5 grams solid 18K gold; 1.4 grams solid 14K and 8.0 grams solid 10K gold. This was a test shipment on my part to determine if MR was honest and could be trusted with my future business. Midwest Refineries, LLC received my gold on June 1. On June 6, 2024, I received a check from MR for only $550.00 while the correct amount according to MRs own terms and policies and based on prevailing gold prices should have been conservatively about $675.00. The difference of $125.00 is just too much for me to accept without a challenge. I received no explanation from MR regarding this shortfall but found others on the Internet whove experienced the same shortfall problem when conducting business with ******** beginning to appear to me that MR is disreputable. I am not some rube that just walks into a local jeweler or cash for gold kiosk at a shopping mall and gets cheated. I know the exact amount I was owed from MR and was even willing to allow MR to keep an extra $25.00 -$50.00 or so for their costs. However, the amount MR short changed me ($125.00) is excessive and exorbitant. From the invoice I received back from MR today (with my disappointing remittance) it was apparent that MR had not melted my scrap gold down and assayed using XRF which is the proper way to determine scrap value. Rather, MR merely sent me back some unexplained scrap value based on dubious weight and karat estimates. I complained to MR (someone called ****) about my disappointment with this transaction earlier today via email but have yet to receive a response. I cannot recommend using Midwest Refineries, LLC based on this transaction.

Received an email from this customer stating his disappointment in his settlement. Called and left a message that I would review his order and reply the next day. I reviewed his order and called him and left a message.to explain his settlement. Instead, I see this negative review. Many people make the mistake of figuring the purity of various karat gold at its plumb percentage of purity, which it should be, but never assays that high. They also do not figure in any weight loss, which all precious metal loses when melted. 10K will average between 38$ to 40% purity, not 41.7%, 14 k will average between 53% to 56%, not 58.5% and 18K will average between 69% to 72%, not 75% as it should. There will also be a 2% to 4% after melt weight loss, when any precious metal is melted. This customer figured all of his karat gold at its plumb percentage of purity and did not account for any after melt weight loss. He also did not give me the oportunity to explain his settlement, before posting this review. ****