Cash4Gold.com Complaint - Cash 4 Gold Sharks BEWARE

Review by Marine 63 on 2009-05-12
PONCE -- Like millions of television viewers like myself we are being bombarded by those cash for gold commercials and who doesn't have jewelry around the house that we no longer use or maybe it's broken. Nonetheless, I had some jewelry that was no longer being used and therefore at first was hesitant to mail my unwanted jewelry through the mail to someone I didn't even know, but unfortunately I did expecting a pretty decent return based on the fact that there was some pretty good pieces of jewelry shipped such as 2 earrings, 2 rings, 1 chain, 2 ankle bracelets, 1 bracelet, 1 cross for a total of 9 pieces of fairly in good condition jewelry. So, out it went on 12-23-08 to Cash4Gold, I waited and waited some more, and finally I get this direct deposit from them in the amount of 150.00 dollars, I nearly went through the roof because if you saw the jewelry I sent to them you to would become very angry and by the way I took pictures of my jewelry. I called them and they stated that thats what it was all worth and that it was to late for me to do anything about it. So, I got taken for a ride and lost the race. Consumer beware, these cash for gold companies are nothing but gold sharks lurking in the oceans of life and preying on the fact that people are in desperate economical times looking to put some cash in their pockets, REMEMBER sharks are predators and do not care about their prey thats what Cash4Gold.com is a shark preying on people who are trying to make ends meet and keep their families afloat in these tough economical times. Consumer, save your hard earned jewelry your better off selling it privately you'll make a lot more money and be happier with the results...STOP FEEDING THE SHARKS.
Comments:7 Replies - Latest reply on 2009-05-13
Posted by Anonymous on 2009-05-12:
I saw a news segment on these "businesses," not too long ago..they are nothing short of a scam. Thanks for warning others!
Posted by Anonymous on 2009-05-12:
These type of companies are only interested in the precious metal content/value and not the jewelry value. As such this might have been (I doubt it) a legitimate payout. Did they provide an accounting of what was paid like the total gold/silver weight and the price paid per ounce? On a side note you'd be far better off selling your gold/silver to local guys in that you get a chance to refuse the offer if you desire.

Excellent review. It's people such as yourself who share their lessons learned that save others the expense of learning the same lesson. Take care!
Posted by Slimjim on 2009-05-12:
My wife had a company come in to her store and set up a table to purchase gold like this. To me that made sense becuase the seller could take or leave the offer. I see these ads and think, why would you give someone your jewelry first and then hope they give you what you want for it after the fact. This is a scenario that must happen quite a bit.
Posted by Anonymous on 2009-05-12:
Excellent review! It takes a LOT of courage to put yourself up as an example of someone who has been scammed. We just had a discussion about recycling cell phones yesterday that brought up the 'send in your gold' industry. Seems a good way to nab them in a scam would be to have some jewelry appraised for its value as metal, send it in, and compare the 'penny-weight' value paid for it. I'll bet they're not paying 80% of value.
Posted by D on 2009-05-12:
Do you have to declare the proceeds of the sale on your income tax?...I heard that you do...!
Posted by Anonymous on 2009-05-12:
old_fart that's a far more complicated question than you realize. In this case however if it was me I'd probably claim this as a capital loss on my taxes albeit these items were probably technically 'personal use' therefore technically not subject to capital losses I'd still try but that's just me.
Posted by ticia232 on 2009-05-13:
there was a guy who wanted to test Cash4Gold (or a similiar site) so he spray painted things like string, a flip top from a soda can, little things like that to see if he would get paid for them. He got $1 for things that were not even gold just spray painted gold.


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