The GoldSmart Network

The GoldSmart Network

July 07, 2009 10:28 ET

Gold Buying: Out of the Back Alley, onto Main Street

TORONTO, ONTARIO--(Marketwire - July 7, 2009) - After the pawnshops and gold parties and Internet-based services, the gold buying business has reached prime time. The GoldSmart Network ( now has a contract with Cash Money Cheque Cashing Inc. ( for over 100 retail locations across Canada offering gold buying service to the public and expects to have an additional 400 major retail Authorized Agents by the end of the year.

"The GoldSmart Network represents an evolution in gold buying, offering consumers reputable and convenient retail locations to sell their karat gold jewellery" says partner Keith Perrin. Gold buying was once the exclusive domain of pawnshops and individual-location buyers. With over 400 tonnes of gold coming from the scrap industry alone last year, The GoldSmart Network developed a turn-key system that would allow any retailer to get in on the boom. Consumers get an immediate receipt for their old gold and an evaluation direct from The GoldSmart Network before they decide to sell and the retailer is paid a commission to serve as a collection depot. The approach allows the consumer to deal with a person face to face in their community and the retailer has an opportunity to participate in one of the fastest growing industries in North America. The GoldSmart Network is aggressively seeking Retail Agents right across the country and is test marketing with a retailer in Quebec The location roll out with Cash Money Cheque Cashing Inc. will be complete by the end of July. AS of July 7, 13 locations are operational and showing promising results.

The GoldSmart Network offers retailers several unique benefits not currently available in the gold buying market:

- Retailers do not need to know anything about the gold market and do not need to worry about making costly mistakes at the counter. Independent evaluations are all performed by trained experts of The GoldSmart Network in their offices in Toronto.

- A 3-5 business day turn around to the customer; drastically quicker than any internet service can provide.

- The retailer need not be concerned with hedging, cash flow, or refinery operational know-how to participate.

- All evaluations are reported to the customer by The GoldSmart Network thus allowing the retailer to focus on their core business.

- Flexible payment options for the consumer including in-store credit for other services and products offered by the retailer.

The GoldSmart Network is an independent Canadian gold evaluation company offering a range of choice to consumers and retailers in where and how they sell gold.

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