Stolen Gold
About 6 weeks ago, I gathered up the scrap gold we owned, cleaned it of plated clasps, inventoried it, then weighed and photographed it. There was 61.9 gm of 14k, which was about $5200 melt value. I sent it to a gold-buying company located on the west coast (I’m in Missouri), using their shipping kit. It was triple bubble wrapped and insured for $5000 via FedEx.
Instead of what I considered a fair offer (75-80% of melt value), they tendered an offer of less than 50% ($2460) which I refused. Part of the deal is if you do not accept their offer, they return your gold, which they did. Unfortunately, the package was obviously empty when it arrived here (it only weighed 21gm). I did not open it, just contacted the shipper and explained it was empty. They asked for photos, which I supplied, and told them there was tape on 1 end of the single-wrapped package, which they had insured for $2500. Then they asked me to basically perform an autopsy on the package, which I did. I cut the taped end off and saw where someone had sliced through the package and the plastic bag containing the gold, removed it, then taped the open end up very neatly.
They said they would file a claim with FedEx and that’s where we left it last week.
Assuming FedEx pays the claim, I’m still out roughly $2700. My position is since I sent them 61.9 gm of 14k gold, I should get back, if not the gold, then the cash value of 61.9 gm of 14kt gold, about $5200.
How should I proceed? Right now I’m just waiting, but I’m not sure that is the correct strategy.
Mark
Location: Chesterfield, MO, USA
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