FORT WORTH, Texas, Oct. 14 /PRNewswire/ -- Cash America International, Inc. (NYSE : CSH ) announced today that it has begun operations of Gold Promise™, a mail-in gold and jewelry buying business. The new business offers consumers throughout the United States an easy and risk-free way to sell their old, broken or unused gold jewelry, diamonds, platinum and fine watches. Gold Promise offers consumers more value, confidence and choices than competing mail-in gold-buying companies. Next week, the company will begin launching a series of television commercials and print ads featuring Mr. T.
Gold Promise delivers significantly better prices for consumers' gold and jewelry and is the only mail-in gold buyer to offer a 200% Best Price Promise. If a consumer receives a higher written offer from a competing online gold buyer, Gold Promise will double the offer(i). Unlike its competitors, Gold Promise does not charge fees for shipping, insurance or any of three payment methods. And, by providing a custom-designed package that protects items in shipment, insuring all packages for up to $2,500 at no cost(ii), providing consumers with a video of their package being opened and enabling consumers to track items and payment at all stages of the selling process, Gold Promise affords sellers peace-of-mind. Gold Promise's 30 Day Return Promise provides consumers 30 days to decide whether to request to have their gold returned, free and insured. Gold Promise is the only online gold buyer to offer 24/7 e-mail and phone customer support.
Gold Promise conducted extensive research to understand consumers' perceptions of the mail-in gold buying market and found that 56 percent of consumers who had tried mail-in gold buying businesses were not satisfied with their experiences(iii). Sixty-one percent were not happy with the prices they received for their items(iv). Chief among consumers' concerns with mail-in gold buying companies was the ability to get the best price for their items and the security of their transactions(v).
"There is a tremendous opportunity for a new business in the mail-in gold buying market that delivers better prices, is trusted and offers consumers more choices for selling their gold and jewelry," said Daniel Feehan, CEO and president of Cash America International, Inc. "Cash America has a well established reputation for superior customer service in the pre-owned jewelry market, making this a natural extension of one of our core competencies."
How It Works
Consumers with gold and jewelry to sell can visit Gold Promise's website (www.goldpromise.com) or call 1-800-2-PROMISE to request a GP FastPack™ kit, which includes the secure GP GoldProtector™ for sending items to Gold Promise or they may opt to print out a pre-paid shipping label to send their items to Gold Promise in their own packaging. Items are sent via USPS and insured up to $2,500(ii). Consumers can track their items and payment at every stage of the process and can even request a video of their package being opened at Gold Promise's facility to be confident that all of their jewelry has arrived safely.
Experienced gold processors review each item and determine the payment to be made to each customer based on the market price of gold. Payment is sent via PayPal™, bank direct deposit or check, according to customer preference, within 24 hours of Gold Promise receiving the package(vi). Consumers have 30 days after their payment is sent to choose whether they will keep the payment or request to have their items returned in an insured tamper-resistant package at no cost to them.
For each package of gold or jewelry items consumers send to Gold Promise, the company will make a $1 donation to Bear Necessities Pediatric Cancer Foundation, a national 501(c)(3) organization whose mission is to eliminate pediatric cancer and to provide hope and support to those who are touched by it. As part of Gold Promise's launch celebration, from now until November 19, 2010, Gold Promise will instead make a $5 donation to the Foundation for every completed transaction.
"Gold Promise is committed to social responsibility and sought an easy way to help our customers support philanthropic efforts through their transactions," said Keith Weinberger, president of Gold Promise. "Bear Necessities Pediatric Cancer Foundation is an amazing charitable organization that helps meet the needs of pediatric cancer patients and their families, and we are pleased to be able to support them in a meaningful way."
Partnering with Mr. T
On October 18, Gold Promise is launching a series of television commercials and print advertisements featuring Mr. T, the iconic 1980s actor. The company is also launching a contest, with the winner to receive a first-class trip to Los Angeles and an appearance in the next Mr. T Gold Promise TV commercial, to be filmed in 2011.
"We are very excited to be partnering with Mr. T," said Weinberger. "Not only is he a well-known and popular celebrity figure long associated with gold and renowned for his integrity and 'good guy' image, he is also deeply committed to philanthropic efforts and supports Gold Promise's commitment to giving back. The most important thing for Mr. T was to work with a company that would help consumers get more – more value and better treatment than what most customers have been receiving."
Experience and Accreditation
Gold Promise is accredited by the Better Business Bureau with an A- rating. The company also is a member of the Jewelers Vigilance Committee and the Jewelers Board of Trade®, both of which require that the company operate in accordance with the highest industry standards.
Gold Promise's parent company, Cash America International, Inc., is one of the largest purchasers and processors of gold jewelry in the United States. Cash America and its family of companies have evaluated and purchased gold items from millions of customers for more than 25 years.
For more information about Gold Promise and to request a GP FastPack™ kit, visit www.goldpromise.com or call 1-800-2-PROMISE.
About Gold Promise™
Gold Promise™ is a mail-in gold and jewelry buying business that offers consumers an easy and risk-free way to make money by selling their old, broken or unused gold jewelry, diamonds, platinum and fine watches. Gold Promise is redefining the mail-in gold-buying industry and restoring consumers' trust in selling gold through the mail by offering consumers significantly more value, confidence and choices than competing gold-buying businesses. Gold Promise is operated by a subsidiary of Cash America International, Inc. (NYSE : CSH ), one of the largest purchasers and processors of gold jewelry in the United States. For more information about Gold Promise, please visit www.goldpromise.com and for additional information regarding Cash America, please visit www.cashamerica.com.
(i) Customers must submit an eligible competitive offer, and while Gold Promise will pay an amount equal to 200% of any online competitor's written offer, it will not pay more than 100% of full liquidation value.
(ii) Customers must submit proof of value to make a proper insurance claim.
(iii) Marketvision Research Custom Quantitative Study, June 2010.
(v) Marketvision Research Custom Qualitative Study, December 2009.
(vi) Payments will be sent within 24 hours of completion of review of contents.
SOURCE Gold Promise