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Refinery buying local items

Published: Wednesday, Feb. 20, 2013 5:30 a.m. CDT

(Continued from Page 1)

DeKALB – Doug Thompson was left to sift through his father’s belongings after his father died last year.

Items that seemed valuable but that he didn’t want or need he brought to the Best Western DeKalb, 1212 W. Lincoln Highway, where representatives from Midwest Gold and Silver Refinery were buying.

“There was a bunch of stuff we didn’t need or my kids didn’t want, so instead of throwing it out, we decided to bring it over here and make a little money,” said Thompson, a Creston resident. “Not a lot, but it was something.”

All this week, representatives from Midwest Gold and Silver Refinery will be buying gold, silver, pre-1964 coins and pre-1934 paper currency, antique toys and instruments, as well as modern electronics. Manager Argen Dodds said most of these items are sent down to Lincoln, to their home store, Uncle Buck’s Trading Post.

A driver’s license is needed for any transactions.

Thompson said he made $10 from the items he sold Tuesday afternoon. Not all of the items he brought were sold, but Thompson said he felt like he got a fair shake.

“I think the prices were very fair,” Thompson said. “I know it’s only $10, but for the trinkets ... they were fair with it.”

Dodds said they use what the item is selling for on eBay to determine how much they will buy it for. Dodds estimated that a person can get 50 to 60 percent of the eBay price, depending on the item’s condition. He added that his outfit takes away some of the uncertainty of using eBay.

“eBay takes a 20 percent fee. You have to pay to ship it. And you have to take all of the risk – you shipping and when you ship it ... [the bidder] has three days to pay you if they think it’s in the same condition as the picture,” Dodds said. “It’s a lot more risk. We’re taking all the risk and paying you right away for it.”

Thompson said he planned to return this week with his Teisco Del Rey electric guitar from the 1960s.

In addition to antique items, Dodds said they also buy modern electronics. Depending on the age and condition of the item, it will either be retrofitted and resold or recycled. Company spokesman Frank Ross said they recycle the items according to the law.

“You’re going to have a tough time getting it out of the house legally,” Ross said.

Although they are advertising for specific items, Dodds said they are open to examining other items.

“We’ll pretty much buy anything and everything if we can make money on it,” Dodds said.

If you go

Midwest Gold and Silver Refinery is hosting a buyback this week.

What they'll buy: gold, silver, pre-1964 coins, pre-1934 paper currency, costume jewelry, watches, pre-1965 toys, pre-1970 musical instruments, war memorabilia, sports memorabilia, comic books, modern electronics.

When: 9 a.m. to 6 p.m. Monday through Friday, 9 a.m. to 4 p.m. Saturday

Where: Best Western DeKalb, 1212 W. Lincoln Highway, DeKalb

Information: Call 217-415-6720. A driver's license is needed for any transactions.

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