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Cash4Gold

Posted:    

deceptive advertising!

Complaint Rating:  100 % with 116 votes
100% 116
5
Contact information:
Cash4Gold
1701 Blount Rd
Pompano Beach, Florida
United States
Phone: 800-241-1811
www.cash4gold.com
We decided to use Cash4Gold after reading the great references cited on their website. We were going to sell our jewelry on craigslist.com but thought this sounded like a more effective way to maximize our profits. WHAT A JOKE! I finally received my check after weeks and weeks of waiting with no word and no confirmation that they even received my jewelry -- I feared it was gone for good. It might as well be lost! For a 14K gold bracelet that I was offered $75, $85, and $90 for on craigslist I received a whopping $4.73! I felt instantly sick and feared the worst.

For some small diamonds that they took our of a ring they paid me $0.21. Yes, that is twenty-one cents. Add in a 14k ring and pair of earrings and my total windfall was $7.51. I feel like I've been sucker punched and just hope someone reads this and saves themself the time, energy and agony of going through this process.

This is a scam people. I don't how they got Forbes and the BBB to endorse them -- perhaps they did a few good deals at first to get the recognition but now they are nothing but thieves.
Complaint comments Comments (210)    Updated: Complaint country United States Complaint category Telemarketing

Comments

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N  22nd of Feb, 2009 by    0 Votes
prey on the unfortunet !!! these peaple shall b damed for what they do!!! Steal from peaple with no law governing them !! A total RIP OFF DONT DO IT !!!
N  24th of Feb, 2009 by    0 Votes
ibuyoldgold must make a killing off an affiliate program via cash4gold or is an owner pretending to be someone else. no person who is not involved with the company would give a rats ### about them and what this "employee" says.

nice try buddy.. you just buried cash4gold a little more with your rant. next time, save your rationally honest garbage for your own site.

ps.. if you knew anything about the internet and how people search for reliable sources to do business with. by posting your web site address, you just screwed your own reputation by defending cash4gold.

as homer simpson says so wisely... doh!!!
N  26th of Feb, 2009 by    +1 Votes
I sent a couple of pairs of earrings, an old wedding band, two bracelets and some other scrap gold...then I found this website. Man was I scared!!! I waited a couple of days and instead of calling I emailed them. I got an immediate response that they still hadn't received the package. I responded to their email asking that they call me to give me a verbal quote, within a few days I received a phone call and they offered me $28.28...I declined and they sent my stuff back UPS. I got it back in one day!

My point is that if you do use this company be sure to stay on top of your materials. Write down your tracking number that is on the envelope you mail to them. Send them an email asking where your package is and request a verbal quote, that way you won't be shocked by a really low check and they also know you are on your "A" game. You're less likely to get ripped off that way. GOOD LUCK!! =)
N  1st of Mar, 2009 by    0 Votes
INTERESTING COMMENTARY - If it Sounds to Good to Be True...
N  2nd of Mar, 2009 by    +2 Votes
I'm going to take a huge ### in the refiners pack and mail it in. HAHA. ### cash for Gold!!
A  2nd of Mar, 2009 by    0 Votes
This company is buying GOLD. If you have one or more pieces with valuable stones in them, remove the stones first...even for a reputable company. Better to bust up some prongs or open a channel setting to remove stones than to give them away to a rip off company or any company ! Send in all the pieces you break off to get stones out, it still gets weighed and melted down.
N  2nd of Mar, 2009 by    0 Votes
Sent gold never received cash
A  3rd of Mar, 2009 by    +1 Votes
I do not work for Lippencott (doing business as "Cash For Gold). I do not, nor have I ever, worked for Lippencott.

However I buy scrap gold. I do this as often as I can.

What do I pay for scrap gold? "As little as I can?" How much do people want for their scrap gold? "As much as they can get." (Humor intended)

I was out at the local swap meet. A lady (pregnant and unemployed) was selling costume jewelry for 50 cents per item. Spot gold at the time was hovering around $700. THIS WAS A WHILE AGO. After seaching her table for about an half an hour I found on her table a pair of Tiffany 18K earrings that weighed about 20 grams.

Was it right to pay her 50 cents for the pair?

Well...Yes and No?

She posted an advertised price. By all rights the item was mine at the price she asked...Otherwise it could have been called "bait and switch", an illegal marketing practice. I could have sued her in a court of law and prevailed.

On the other hand I spent my TIME, and EXPERTISE (Some 30 years of experience with my "degree" from the School of Hard Knocks), identifying an item of value within the piles and piles of valueless costume jewelry that she had on a table for sale. (It is similar to real Gold mining...going through a ton of rock to get an ounce of Gold.)

The tuition from the School of Hard Knocks, at times, has been expensive. At times I have been frauded by the nefarious, by buying fraudulently marked jewelry items as legitamate. Yes I liked buying "14K brass", right?

At other times I have profitted handsomely from my knack on identifying collectable items, like those Tiffany earrings, and purchasing them back of what I knew that I could sell them for.

When I buy scrap gold I generally pay 60% melt and sell for 90% melt if I decide to sell it. I am competitive with the local pawn shops and my lapidary and numismatic hobbies (yes...I do not make a living from this) pay for themselves. This spread covers my losses from the frauduent items as well as those that I decide to collect.

So here is this pregnant lady whom is selling the 50 cent 18K Tiffany earrings out at the local swap meet...What would you pay her?

I paid her $100.00. Needless to say that she was thirlled. That was more than fair since her asking price was so low. I paid her a GOOD price. I ended up melting them at $300.00 (~$850 spot gold) as no one has any money for the collectable value where I live.

Now some of you may believe that I should have paid her "full melt" or maybe even what the original purchaser had paid for them. Some of you may believe that I should not profit off of her ignorance.

On the other hand there will be others that might believe that I was a fool for not taking her for all that I could get by paying her 50 cents.

To those whom believe that I should have paid her "full melt"...HOGWASH!!! I am not a communist. It is not my responsibility to educate everyone that I meet. I paid CASH for my early primary school (Grade K through 2), my High School, and my College and University education. I PAID CASH for these...NOT the government. I also PAID for my education through the School of Hard Knocks.

Now if you want to pay me to teach you, that is fine, but do not expect me to work for free. That is wrong. That is enslavement. My TIME IS WORTH MONEY.

To those whom believe that I was foolish for not taking her for all I can get...again, HOGWASH!!! I am not a complete capitalist. Because of my kindness she comes to me to see if she has anything valuable over and over again. I happen to enjoy the long term profit of her repeat business.

Now while I am a capitalist there comes a point where it turns to outright greed.

Lippencott has been running these types of scams for many, many years with their newspaper centerfold spreads of their convention center buys that they run quarterly throughout the larger metropolitan areas of the USA. They have no obligation to educate the masses as to the value of their belongings. ("Come in for a free appraisal...". NOTHING IS FREE. WAKE UP AMERICA!!!) Again their time is worth money and as long as America is so easily duped by the images of the nice guy in the suit, then America deserves what they get.

Really...Who would place their valuables in the US Mail to someone that they do not know and expect to be paid what they had paid for them at the jewelry store? Give me a break...

Television advertisements COST MONEY...That is major overhead. Centerfold full page newspaper advertisements COST MONEY. That is a major overhead. Super Bowl advertisements COST MONEY. That is a major overhead. Just whom do you think PAY for these EXPENSES? That is easily answered...The people whom send in their valuables.

I do not have that overhead as I do not advertise. The local pawnshop does not advertise (like that...Super Bowl ads?) so that overhead is not there. So the pawnshop can pay more to their customer. And because the pawnshops have rent, electricity, and the other costs of doing business, I can pay more than they do.

What are you thinking, America? Rather, ARE YOU THINKING AT ALL, AMERICA???

At least I know that God protects some of His children...I was at a Garage Sale last weekend. I had a record day. I have never spent over $1000 at a single Garage Sale until last Saturday. I am happy to have bought that much Scrap Gold at their Garage Sale...They had collected it together to send it in to Cash4Gold. They got a lot more money from me than they would have from Cash4Gold. I am CERTAIN of that.

They were a good Christian family. We even read the scriptures in the Bible where the Lord God proclaims that the Silver is His and the Gold is His. The 7 year old boy brought out the Bible so that the Holy Spirit could guide me to the scripture that declares this Truth.

I am asking that you agree with me in prayer that the people at Lippencott are blessed beyond their wildest dreams with their worldly riches...so that maybe their greed will be quenched.

God bless you.
N  3rd of Mar, 2009 by    +1 Votes
So, I put on my Indiana Jones hat and did some digging. Here's what I found:

- ''ibuyoldgold.info" is a man named Don Pennington from Pennsylvania. If you go to ibuyoldgold.info, you will be redirected to a site called associatedcontent.com, a site that PAYS people to write content for them. The so called "review" is little more than a commercial for Cash4Gold, not an honest review of the service. Here's an example:

"Wanna better option? Of course you do! Got any old, ugly, broken jewelry around your house? Of course you do! Wanna get paid top dollar for your scrap gold, silver, and platinum? Of course you do!! My friends at Cash4Gold.com have already helped thousands of good people just like you, through troubling financial times, and have paid out millions of dollars, to many who become regular customers. To be frank: You're just not gonna find a company that'll treat you better, answer all of you questions clearer, or pay you more, than Cash4Gold.com! Cash4Gold.com has been operating since 2001. They've since grown to being one of the largest, and most respected, precious metals refineries in the U.S., and they're the only precious metals refinery to be listed in "Inc. Magazine's" "500 Fastest-Growing Companies in America", for 2006 and 2007. And it's all based upon, fair dealings with sellers, honesty, and knock-your-socks-off service!"

Does that sound like an honest appraisal or a commercial?

This guy is a shill. A carnival barker.

- On this very forum, Pennington says he is a "former customer" yet in his commercial/review, he never once says anything about how much money he got or even if he actually ever used the service! COMPLETE ###!! Remember, Don Pennington is being PAID to write this, and I'll wager that he got more money for lying about the service than he would if had actually used it.

- Pennington is a sad and bitter divorcee who, according to his associatedcontent.com profile, has but one interest: "Winning my children back".
Sad, huh?
Well almost as sad as this, his bio: "I'm just another throw-away Dad tryin' to make the child support". Apparently making the child support includes writing almost 400 articles for associatedcontent.com. In fact, I encourage you to not go to that site, as he may get paid for every visit. I did it for research and part of me hopes he gets money to pay his support with, but you don't need to do it.

Don, you asked for this by coming here and insulting people that have a legitimate gripe against a scam just so you can generate traffic for your Internet paycheck machine. Get a real ###ing job, ###.


PWND.
A  5th of Mar, 2009 by    0 Votes
Cash4gold is garbage. My fiance sent in her jewelry and got told nothing was of value and it was all gold and a couple diamonds in there. They tried to keep it all for the life of them and we told them we wanted it back they charged us to get it back. I paid it just because I wanted the items back bad. When I recieved them they were damaged, scratched, very poorly repaired. Half assed. I recommend not sending your jewelry in to cash4gold.com.
A  11th of Mar, 2009 by    0 Votes
You GUYS better make some calls to your States Attorneys...CALL FLORIDA's now...call call call write write write, call the press, call the radio stations...DONT STOP
N  17th of Mar, 2009 by    0 Votes
defrauding me out of my gold
N  19th of Mar, 2009 by    0 Votes
Yes, Cash for Gold is a scam, maybe this person is a disgruntled employee, but this company is a rip off. Anybody that agree with a practice like this is nothing but a con artist. Honor among theives.
N  19th of Mar, 2009 by    0 Votes
Look like one of the scammers is getting testee
N  21st of Mar, 2009 by    -1 Votes
The old lady in the commercial is just the man...just look at her hair!
D  21st of Mar, 2009 by    0 Votes
The old lady is just the man...just look at her 'hair'!
A  23rd of Mar, 2009 by    +1 Votes
Hmmm... mail my valuable gold jewelery to a company known only to me by a late night infomercial. Seems like anyone who would do this gets what they deserve - Not defending the sleezy company. Just asking - what did you really expect?

Caveat Emptor!
N  31st of Mar, 2009 by    +2 Votes
There is a very old saying that is still true to this day -- BUYER BEWARE! All of you are complaining about the illegality of this company's business practices. Does anyone remember that we have a free enterprise system in this country? This is of course the same free enterprise system that you would all be defending had you not been victims of it. In other words, you all stepped on your own d* * ks and now someone needs to pay. Don't get me wrong. I am in no way defending Cash4Gold, but legal and moral are not always the same thing and this is was you must recognize.
N  4th of Apr, 2009 by    0 Votes
find it very interesting how none of the comments mentions a weight... perhaps these posters expectations are unrealistic.

example of how to understand the process:

5 dwt 14k wedding band

5 dwt x.585=2.92 dwt (.999 fine)

2.92/20=.14oz (.999fine)

.14 x $900.00 spot= $126.00

$126.00 x .50= $63.00

this is figuring that a company wishes to double their money.

Which may seem like a lot, when in reality it is not.

The mailers/Kits costs approx 3.00 to produce and deliver.

Then there is the enormous cost that some companies invest in Advertising, 10's of millions of dollars. Where do you think this money comes from?

Employee costs, Insurance, Rent, Taxes etc etc etc...

So, for a ring worth $126.00 in pure gold based on NY Spot @ $900oz (like your gonna get that, LOL, think about it, this is a futures offer based on thousands of oz's on the commodities exchange)

You are offered $63.00 dollars... from which any number of expenses must be deducted in order to arrive at an accurate assessment of actual Profit...

Wake Up people, you were not ripped off.

"Your Expectations" were not met by that particular company.

And that's a far cry from calling someone a thief...

Next time know what you are sending, understand the process, and set your expectations at a realistic level, and maybe you won't be satisfied, but you also won't be shocked and angry either...
A  15th of Apr, 2009 by    +1 Votes
I am a victim as well. Apparently they "did not receive my package". They wanted me to do exactly what the article states. File a report with USPS and then send in a copy of my drivers license, sdescription of items and complaint confirmation #. Because they are "not responsible with the postal service". This is the first time ever that my package has supposedly not been delivered to its destination. This company should be forced to be shutdown. Don't fall for the scam.

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Weston
United States - 33326
+1 800 241 1811
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