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Kay Jewelers introduces Kay Gold Exchange

July 08, 2009
Kay Jewelers introduces new online service allowing customers to safely exchange gold for cash.

Akron, Ohio--In response to many requests from customers looking for a secure way to exchange their gold jewelry for cash, Kay Jewelers has launched the Kay Gold Exchange.

According to the company, the Kay Jewelers Gold Exchange Program, available online at Kay.com, is risk-free, enabling consumers to send in anything made primarily of 10-, 14-, 18-, 22- or 24-karat gold or the European equivalent for cash.

The program uses three factors to determine the value of the items: The purity of the precious metals, the weight of the item(s), excluding any stones, pearls, etc., and the market price of each type of precious metal on the day of the payment, based on the London Fix.

If customers are not happy with the payment amount or any other aspect of the service, they can simply return the check within 14 days of check issuance, and Kay will return the items, at no cost, the company states.

For consumer safety and security, every package received is videotaped while it is being opened, enabling customers to log in and view their valuables being unpacked and weighed. While the transaction is being handled, customers are informed with complete transparency every step of the way.

"Anyone can offer to buy gold, but we are jewelers first and foremost, and we have the expertise, experience and resources to ensure our customers' peace of mind," Kay Jewelers President and Chief Executive Officer Mark Light said in a media release. "We take our reputation seriously, and customers can be assured that through this new service, they'll be getting a fair and honest price."

Kay Jewelers is a specialty jewelry brand in the United States. Its parent company, Akron, Ohio-based Sterling Jewelers Inc., operates 1,401 stores in all 50 states. In National Jeweler's 2009 State of the Majors report, Sterling Jewelers ranked No. 2 on the list of $100 Million Supersellers, with an estimated $2.534 billion in U.S. retail jewelry and watch sales in 2008. Sterling Jewelers is the U.S. division of London-based Signet Group plc, making it part of the largest specialty jewelry retailer in the world.
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