Cash4Gold: Is It For Real?

Actually, I believe this is promoting robbery. Low income thugs will think they can break in to houses, steal gold and jewelry, sell (uuuh, fence) it online and make a profit. Why do I think this? Look at the time slots the ads are placed. People with day jobs will be sleeping in the middle of the night.

I live by the rule, if they are doing a "hard sell" then their has to be a catch. Doing so many commercials is definitely a hard sell.

Better to simply go to a pawn shop and sell it. Why would these guys give you anything close to market value?

Don't miss the part about how Cash4Gold offered Rob thousands of dollars to take this post down.

http://www.cockeyed.com/citizen/goldkit/reputation.shtml

I also liked the link to the "how much gold is in Goldenschlager?" :)

I gotta agree with Zav, infact the commercials remimd me of another infomercial that used to run in a late night slot. It was for a battery opperated Dremel type tool, and they'd show it cutting through interesting things like... chain fences and padlocks.

HMMMm...

Plus, if I ever had something gold to sell, I'd put it up on ebay before ever turning to a gold-buying scam. At least on Ebay, someone might want it for a gift and would pay a lot more than someone wanting it for its exact gold weight.

Just take it to a reputable small jeweller, and they will probably be able to give you the cash for it.

It will not be what you paid for the jewelry, though, since there is a substantial mark up on gold jewelry.

I posted this in the Que and it got downvoted.
Interesting.

Interesting (and humorous) writeup. The old adage still applies, if it looks to good to be true.....

My hubby has a friend who sent in some ordinary rock from the driveway painted with gold spray paint. They actually sent him a check for a couple bucks!

How is this a rip off? Just because they make you a low ball offer doesn't make it a scam. I am guessing the author of the article would also describe selling your used car to a car dealer, the guy making an offer on your house under asking price, and any other good or service where you negotiate the final price a rip-off unless they gave you exactly what you thought it was worth. Even if you are dumb enough to accept the first offer without having done any research into what you had, it's still not a rip-off.

FYI, the company doesn't just advertise on late night television. They also advertise during daytime television. I know this because I'm a stay at home mom who keeps the TV on for background noise during the day otherwise it's too quiet.

Johhny: True. A fool and his money are soon parted. If the person is dumb enough to accept the first offer, the company is legally protected. And, because the company is willing to give a higher amount upon being discovered, it is not a "scam" in the traditional sense.

I recognize that they are a business, and this is just their way of turning the highest amount of profit that they can get. It's still morally reprehensible to be the guy standing there waiting to part fools from their money. It's an intellectual version of playing tag with the kid that has a broken leg. And karma is a bitch. So I'm glad for people like Rob who show unwitting people that they can't trust these types of deals.

Its not a rip off its an mail in bidding. You send your product they bid on what they feel the products is worth and send you a check. Note:You have to have the brains GOD dave you to:
1. Request the value price frm a jewler or apraiser
2. Keep photo copies of the jewlry
3. If you have a receipt keep that at hand
4. Have confirmation this merchant received your product
they in turn send you a check for the amount, you could cash it and accept the offer or return the check negotiate the pricing for it, you have to sell your GOLD. Duh!!!!
And the comment abt the use car sales man,buying a home, pawn shop trades are all the same except this time you are mailing the product and are not face to face, shut even some jewlers will purchase your old jewlry, and NOTE: just because its special to you in the "Mental Sense" doesnt mean its worth what you are asking, bc these pple are telling you to send in unwanted GOLD.

I mailed my moms old jewelry I inherited and a broken wedding ring. I got a check for .27 Cents!!!
It would have cost me postage to get the stuff back, what a rip off and a hassle!

take the sp error w/ love sorry, but you get the point thats all that matters

what i wonder is if you refuse their offer, what happens if they "accidentaly" loose your jewelery?

Personally, I would never go to cash4gold ever again. I did send some stuff, and it was pretty nice stuff to be honest and i thought that i would get a descent amount of money from it, but i didnt. They sent me a check for 22.50 and i was bummed after that. Dont be stupid like i was. But i was in serious need of cash, so i guess it would be then nothing, still not worth it though.

i think cash4gold is dumb. if you can go through all the trouble to have the merchandise appraised and looked at by a jewler, SELL IT TO THEM. why would you waist time mailing it, then more time waiting for a check for a questionable amount. i dont think its a rip off, they give you what THEY think is fair value, if your not satisfied negotiate with a person face to face.

These people are in the business of making money... I personally wouldn't send in gold for cash...

The jewelers are going to only offer you 40% of the value of the spot price and a pawnbroker might give you 30%. Cash4gold might give you 20%.

No! You figured this out all by yourself? I bet it took you a whole 5 minutes to figure this out. Just what was going to be your first clue? You are a genius I seriously need need to hang around and read some more of this.

I sent in a bag full, luckily not my best, and I received a check for .16 so I don't think I will send in anything else. like the other it would have cost me more to send a letter requesting them to send the stuff back.
wpm

I totally got ripped off! yeah Im admitting I sent my scrap gold to gold4cash and got ripped off. I got a check for $136.00 definitly not enough to take a vacation of a lifetime lol, just enough to take the family out for dinner. At least I can laugh about it and let people that are thinking about sending thier gold to them know its not worth it.

I like that old Jew broad with the crooked Jew nose that says "I can't believe I got so much for my gold jewelry". Cracks me up every time.

I believe anyone that sends in thier gold should not be able to reproduce! You'd have to be a real moron to send someone your gold and wait for money!

hey first off there are 3 shifts at many jobs "zav". second your flat screen television is far greater value in your home then some scrap gold you may have laying around. so watch your late night television ads. and last how did you see said commercials if you was asleep so that you could get up in the morning and go to your one shift employment sounds as tho you may be the low income guy not the local scrap gold thief. So please think before you post a comment on a blog goof!....

Even when you realize that a scam is a scam, it is still important to expose it, because there may be people who are not familiar with this particular scam. Perhaps you will never be fooled by anyone, but that doesn't excuse you to be a jerk to people who ARE in danger of being fooled.

In my opinion, the fact that C4G TRIPLED their offer in 1 minute of negotiation demonstrates that the first offer was a de facto ripoff.

*****TAKE TO THE NEAREST PAWNMART*****JUST SAY YOU WANT TO PAWN AND YOU WILL GET MORE THAN YOU ACTUALLY PAID FOR IT IF YOU BOUGHT THE GOLD BEFORE THE PRICE OF GOLD WENT THRU THE ROOF. IF THERE IS NO PAWNMART NEAR YOU, CALL AROUND TO YOUR LOCAL PAWNSHOPS AND ASK WHAT ARE THEY PAYING FOR 14K AND 10K TO PAWN. YOU WILL GET UCH LES IF YOU SAY YOU WANT TO SELL. SHOP AROUND!!

Celestine,

I feel awful for you that you got a check for 27 cents for antique jewelry and a broken wedding ring. I'm glad to hear your story, because I'd actually "considered" trying this--and now I never will after reading all the comments (from everyone). My goodness, how tragic that you got so badly ripped off and the man who took a rock from his driveway and spray-painted it gold received $2 from Cash4Gold. Insanity plus!

I know 2 guys that make their living by purchasing estate jewelry, then selling it at craft shows in the area (Shore Area of New Jersey). They make a BUNDLE! They are always looking for jewelry. They even have some contacts in New York City and they go those people occasionally to see what they have. Find someone like them. I'm sure they would have given you a fair price for inherited jewelry, if it was in good condition--and they thought others out there might be interested in it.

Don't use cash for gold it is a RIP OFF!! I sent an engagement ring in as well as some other jewelery and they sent me a check for $15 I was so upset but I what can I say I fell for it.

Cash4Gold is a rip off! I sent in a 1/2 ounce mix of 10 and 14 carrot gold, with an engagement ring (minus the diamond) that was 18 carrot gold. A nice heavy handful of gold! This was when gold was $890 per ounce. Guess what... I got a check for a grand total of $26. What a scam. Don't fall for this scam like the rest of us did on this thread. Throw your gold in the toilet and flush before you send it to those scam artists so they can laugh at you all the way to the bank.

--Marci - 06/24/08
I saw the commercial on TV., sent for the kit , gathered all my broken gold pieces, rings, charms etc and sent it in on 4/9/08. My friends and family laughed at me and said I had just lost gold that I could have pawned and gotten the money then. Today, 4/19/08 , I just got my check , very sizeable for what I sent in, and I'm the one laughing now! Thank You Cash4Gold , I now have extra $$ to take to Cancun !

Marci
Davie, Fl

thats a testimonial
and how did nobody here see that this was a scam?

zav, not only thugs watch late night television. I would like to add that there are many people who work afternoon or midnight shifts that would also be watching late night tv. You can obviously tell that you work a daylight shift and you judge everyone else who does not do the norm like you do. Besides, who cares if it is a scam or not. If it is and you decide to get used by the scam then that is your own fault. If it is really was a scam I am sure someone would have stepped in and shut it down by now. Personally most of my jewelry was gifts that I would never get rid of, it all has a memory behind it. If I ever did anything with it, I would take it to a local jeweler and have it melted down into a charm or into something else that I would want.