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Cash 4 Gold

Posted:    

scam

Complaint Rating:  82 % with 11 votes
82% 11
4.1
Contact information:
Cash 4 Gold
Florida
United States
cash4gold.com
IT'S A SCAM!!! I gathered all my old gold jewlery, 13 pieces. Mailed them in a envelope that i was told was insured. Two days later i found all this negative information on the internet about cash 4 gold. Four weeks later i was living the nightmare stories i read on the internet. The package i was told was insured, it was but only for $100, i had over $2000 worth of jewlery in that package. Like many of the stories on the net my package came up missing and the company wanted to instantly send me my $100 insurance claim. They told me they would intiate an investigation with the United Postal Service. Two weeks later i found out they didn't, so I did. I was told by my local postal service to contact thePostal Inspector who informed me that my missing package to this company is one of SEVERAL just from my state alone. The larger valued packages are being stolen. an investigation is on going. So for over $2000.00 worth of jewelry i am going to end up with $100. After all the complaints and negative info i have uncovered about this company, i don't understand how they they have not been investigated and shut down.
Complaint comments Comments (206) Complaint country United States Complaint category Other

Comments

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D  13th of Feb, 2009 by    -1 Votes
I have had more time to think about this morning's "revelation". After watching countless commercials for this service, I felt that this company was simply "preying" on the consumer. Yet, we as a consumer of this service, have the ultimate choice of whether we send jewelry in the mail.

As I pondered this topic more, I thought where is the consumer responsibility? According to their website, they contact the mailer after evaluation and make an offer. If the offer is not accepted, then they send your merchandise back. If the offer is not acceptable, why accept? Have them send it back. If it takes a few weeks, then it takes a few weeks. If this consistently is not happening, then this should be corrected.

If I were to mail a large amount of jewelry to the processing center, I would make sure that there was some form of insurance if I was sending it through the USPS for the fair market value. Furthermore, I might even consider sending the envelope by UPS or FedEx for tracking and insurance.

Bottom line - consumers need to use these services with caution and work with companies like Cash4Gold to make the transaction successful. Personally, I would not feel comfortable sending valuables in the mail and would not be likely to use this service unless I had assurances of that my package would arrive.

Also - I have rewatched their commercials. They are not as bad as my rant They are cheesy, but beyond that pretty well sum up their business model. After reading all the comments on this thread, I felt this company was unscrupulous. I have since learned that I was misinformed and wanted to set my opinion straight. The comment left by Cash4GoldInc was not CYA - just an honest explanation. The business is legit. They are making attempts to correct problems and, with any business, customer service problems arise.

This could be a useful service - for those of you looking to use this service, just be sure to spend a few extra dollars and get your package insured, or, go to the pawn shop and trade for the cash you need.
A  13th of Feb, 2009 by    0 Votes
If anyone is looking to sell Gold in central NJ e-mail goldbuyerexpress@yahoo.com. Small company who gives the best payouts. Last week I sold 14K for $18.50 a penny weight. Stay away from mailing gold to these scammers. I learnrd the hard way.
N  14th of Feb, 2009 by    0 Votes
never trust anything that sounds to good to be true.When I heard of this a bell went off in my head that said something was wrong!
A  14th of Feb, 2009 by    0 Votes
If you are looking for a reputable jeweler in Los Angeles, you should come visit us: Rothstein & Co. Jewelers in Beverly Hills, on Olympic and LaPeer. We weigh your gold right in front of you, do the acid test for karat quality of gold content, and give an estimate based on the gold market. If you want your stones back, we will give them to you.

The only amount we deduct from your total is the fee for melting the gold and the assay fee, and a 10% handling fee. And yes, the old really does get melted. If it's 14 karat, the pure gold in it is only 58% pure; if 18K, it's 75%. Sometimes the reality is a little less than stamped - but NOT the pennies that the Cash4Gold thieves tell you!!

You should go to someone who has been in business for a long time, and check reviews and recommendations. Read our Blog about Scrapping gold... http://rothsteinjewelers.blogspot.com/ and do a search on us on google or MerchantCircle.com for assurance.
A  20th of Feb, 2009 by    0 Votes
I sent in several pieces to this so called company because I really needed the cash, and it was a total ripoff. They gave me around 100.00 for 20 or so items. I was stupid enough to accept it but I didn't really think I would get my items back after the complaints I saw online. Beware to all who think of sending something in.
N  21st of Feb, 2009 by    0 Votes
I have a lot of broken, unused jewelry and they are all 24 carat. Since value of gold is so high right now, I am thinking about selling it for cash. I don't want the hassle of going to pawn shop and don't know which jewelry stores in the area that would willing to pay gold for cash. I have seen the commercial of "Gold 4 cash" and I thought to myself "what a scam". However, early today I was thinking why don't I give it a try and send in several broken pieces of my 24 carat gold jewelries and see how much they will willing to pay for it. I am glad I read this blog. Now, I will not even consider sending them anything. Thanks for all of you that take the time to warn others in this tough economy time. We are all smart consumers, but we all need some reminder sometimes.
A  21st of Feb, 2009 by    0 Votes
I wanted to see what this company was all about so I sent 3 gold rings to 3 companies including cash4gold. Out of the three companies what I received from cash4gold was a joke. In fact the only company that gave me a good value was a NYC based company called "Madison Gold Partners". Unlike the other companies I used, someone called me within 24 hours with my offer and informed me of my rights. I told them that I was interested in their offer and I quickly received a check from them. since that time I have used their home party kit to host a Gold Party with my friends. They actually sent me a check for 10% of that days profits. This may become a full time job for me. Not all of these cash for gold companies are scams. There are actually honest people out there. Just stay away from cash4gold.
N  22nd of Feb, 2009 by    0 Votes
Why would anyone send valuables in the mail with no clue as to what you are going to receive in return? That is just asking to be scammed. Especially given the cheesy commercials. I mean look at their spokesmen--Ed McMahon and MC Hammer?!

Wow, I can't believe the idiocy of some people
N  22nd of Feb, 2009 by    0 Votes
Anyone who sends valuables through the mail expecting "big cash" deserves to be scammed for their idiocy and greed.
N  1st of Mar, 2009 by    0 Votes
Well...of course now I feel soooo very stupid..but yes I sent several items to these rip off artists. 1 piece a yellow gold with white gold wedding band.I knew of the items sent, the wedding band was the only item probably worth anything. I waited..received a check for 1.17. I called immediately...was told the other items had no precious metal. Asked about the ring."We can return all your items with no precious metals". So I asked them to do so. I received my items..no charge to me..but no ring. Immediately called..asked about the ring. Connected to a "supervisor".This person said they take pictures of all packages as they receive them...and..you guessed it. No ring was received. I'm so upset by this..how could I have been so stupid. So they have my ring..I received 1.17..THESE PEOPLE SHOULD BE SHUT DOWN.DON'T SEND THEM ANYTHING!!!
Roxy in NY
A  3rd of Mar, 2009 by    +2 Votes
I just hate the old lady in the commercial " I never knew my gold jewelry was worth so much money"...I just want to kick her in her old face!
A  5th of Mar, 2009 by    0 Votes
MY BOYFRIEND DIDN'T LISTEN TO ME AND SENT HIS GOLD TO THESE STUPID MOTHER F***ERS. HE SENT A LINK BRACELET, A DIAMOND RING AND 2 NECKLACES AT LEAST A MONTH AGO. WHEN HE CALLS TO HAVE THEM "TRACKED" ...THEY HAVEN'T RECEIVED THE PACKAGE YET. NOW THEY ARE TELLING HIM TO GO TO THE POST OFFICE TO HAVE IT TRACKED, WRITE DOWN THE TRACKING #, HAVE IT NOTARIZED AND FAX IT TO THEM. I TOLD HIM TO TAKE IT SOMEWHERE LOCALLY BUT HE DIDN'T LISTEN...NOW HE IS AT LEAST $2, 000.00 IN THE HOLE. IF ANYONE KNOWS WHAT I SHOULD DO NEXT OR HOW TO REPORT THEM, PLEASE LET ME KNOW. I AM SOOOOOO DISGUSTED THAT THEY ARE GETTING AWAY WITH "STEALING" FROM HONEST PEIOPLE JUST TRYING TO GET SOME EXTRA CASH IN THEIR POCKETS.
N  11th of Mar, 2009 by    +3 Votes
I started up a site dedicated to keep this information alive. /URL temporarily removed/
N  12th of Mar, 2009 by    -1 Votes
Don't you people realize that pricing for 10k 14k 18k and 24k is different. Pure gold is in the $900+ rang per ounce. 14k is about half the purity of pure gold. A gold buyer is buying your gold to re-sell to a refiner. Thus they must buy it at a lower price in order to earn a living. Anyone who expects to sell their jewelry for other than it's scrap value is dreaming. The middle man has to make money. Otherwise you will have no one to buy your gold.
A  13th of Mar, 2009 by    +3 Votes
Ive actually known this for quite a while. I work in the same kind of business with friends of mine. From the very start we had customers that came in with their horror stories of cash for gold. To tell you all the truth friends, your best bet for making the most money for your jewelry and other things is to shop around. No one place is really better than the other for the most part. I can honestly say that our prices are higher than most any others right of the bat. Most competitors will match, or go over our prices, but usually start lower. An honest buyer will give you their best price first. The best thing you can do is ask questions: What measurement of weight are you going by? How much per increment are you paying? Are you paying for stones, and How much if so? When jewelry first came to really be a popular item in the middle class, all jewelers measured precious metals by the pennyweight (dwt), which there are 20 dwt in an ounce. Now a days most buyers, especially in the south, try to buy by the gram. This is ok too, but you have to be sure that they are weighing your jewelry correctly. When I get into an area to buy, the first thing I do is check my competition. It is very common to hear a jeweler say "There are 26, 28, 29, or 30 point something grams in an ounce. In fact, there are 31.2 grams in one troy ounce of anything pure. The best thing you can do when you are selling anything is "BE EDUCATED ON WHAT YOU HAVE!" If you have some rings, necklaces, bracelets, whatever, you have to know what you have. Here are some questions to ask yourself: What karat do I have? How much weight is here? What weights do buyers go by? How much is gold going per ounce online? What is the purity of the gold in my jewelry? What stones do I have? Is this a brand name, or designer jewelry? There is much more you can come up with. Remember that you can always so "No", and also reserve the right to shop around.
N  20th of Mar, 2009 by    +1 Votes
I sent them3 ounces of gold, and they've mailed me a piece of toast.
A  23rd of Mar, 2009 by    -1 Votes
I know times are rough, I got laid off, and I have bills, rent, etc... I went to college, got a degree, no kids, and I am barely making it. I never thought times would get so rough. Its disheartening sometimes to realize that you put forth such an effort to try to succeed in life, and the DAMN ECONOMY IS SO BAD, IT DOESNT MATTER WHAT BACKGROUND YOU HAVE, YOU JUST CANT GET ANYWHERE...
I havent sent any of my old jewerly to cash 4 gold, but the commercials always gave me a bad feeling. would rather go without then to sell my jewerly, but in these times I do know that sometimes you have to do what you can, especially if you have a family. I'm glad sites like this are up and available. If you have to take this route to try to get money for bills, food, etc, always do a check with the BBB or any other website like it. Times are rough, but all you can do is hope for the best. My friend told me she began to stock up on food, remember Y2K??? Well with the recession and the way things are looking its going to get worse. Im trying to get another job, but as soon as I do, Im going to start buying water, and plenty of can goods, etc... It may sound crazy, but alot of people, even economic experts have stated that things are only going to get worse. If you can spare anything to start saving up, I would begin to do it...
A  25th of Mar, 2009 by    +1 Votes
You forgot to mention the biggest rip off of all and that is they pay you by PENNY WEIGHT, WHICH MOST PEOPLE DON'T EVEN KNOW WHAT THAT IS. NOT ONLY THAT, BUT THEY DON'T TELL YOU THAT THEY PAY YOU BY PENNY WEIGHT. THEY MELT YOUR GOLD, SEND A TINY, INSULTING CHECK TO YOU, THEN WHEN YOU CALL AND COMPLAIN... THAT IS WHEN THEY TELL YOU THAT THEY PAY BY PENNYWEIGHT. THEY DO NOT TELL YOU THAT ON THE COMMERCIAL, DO THEY? THEY ALSO TELL YOU THAT IT IS TOO LATE TO SEND THE CHECK BACK, BECAUSE YOUR GOLD "HAS ALREADY BEEN MELTED" YEAH RIGHT. THEY DID NOT EVEN PUT YOU ON HOLD TO CHECK YOUR ACCOUNT. THEY JUST MAGICALLY KNOW THAT YOUR GOLD HAS BEEN MELTED. I GOT LESS THAN A FOURTH OF WHAT I EXPECTED!!! FOR THE LOVE OF GOD, DON'T DO IT!! YOU WOULD BE BETTER OFF, AND FEEL BETTER ABOUT YOURSELF TO GIVE IT TO THE HOMELESS AND LET THEM TAKE IT TO A PAWN SHOP. INSTEAD OF LETTING THESE GREEDY LYING FUKKERS HAVE IT.~!!!
N  25th of Mar, 2009 by    0 Votes
To: CAVEAT EMPTOR

God and Satan (if there were a Satan) have nothing to do with people being scam artists and liars.
N  25th of Mar, 2009 by    +1 Votes
GASMAN 505
IT WOULD HAVE BEEN WORTH IT TO SLAP THE ### OUT OF THAT ###ER WHO DUMPED YOUR JEWELRY. NEXT TIME TEACH HIM A LESSON NOT TO DISRESPECT PEOPLE LIKE THAT.

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