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Cash4Gold.com

Posted:    

delay and ripoff

Complaint Rating:  100 % with 42 votes
100% 42
5
Contact information:
Cash4Gold.com
United States
www.cash4gold.com
I had a great deal of scrap gold jewelry to sell, and I chose Cash4Gold.com because they advertise the highest prices paid. I shipped them over 20 oz of gold jewelry via overnight mail. There were a lot of stones in the jewelry but I estimate that there must have been at least 8-10 oz of gold. This company advertises 24 hour turnaround on processing jewelry. They also have a "fast cash" option that allows them to wire the money directly into your bank account within another 24 hours - with the caveat that you lose the right to cancel the transaction within 10 days. I chose this option and based on their advertisement I expected the transaction to be complete within 48 hours of their receipt of my stuff.

They received my items on 7/1. When I had not heard from them on 7/3 I contacted their customer service, who advised me that the jewelry was still being processed (so much for the 24 hours) - then FINALLY they wired money into my account TODAY (7/9) which meant there was an 8-day turnaround. When I checked my bank I was stunned to see that they only paid me $196.64 when a local gold buyer had quoted me somewhere in the neighborhood of $2, 500-$3, 000.

I feel now that not only have I been grossly underpaid for the value of my jewelry but they took 8 days to complete the transaction - on top of that, since I chose the so-called "fast cash" option, I have no recourse of canceling the transaction and getting my gold back. Rip-off!
Complaint comments Comments (22) Complaint country United States Complaint category Jewelry & Watches

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N  10th of Jul, 2008 by    0 Votes
Followup to the complaint that I posted yesterday - after complaining to Cash4Gold, the company did offer to send the jewelry back to me upon receipt of a check from me for the original payment. As I no longer wish to have any dealings with this company, I opted to keep the money. The remainder of my complaint is still valid - they did not process my jewelry within the advertised time, and I still feel that I was grossly underpaid.

The CEO of the company also contacted me by phone and e-mail threatening to sue me if I do not remove my complaint altogether.
N  14th of Jul, 2008 by    0 Votes
I wanted to send several rings and a gold watch to Cash 4 Gold. I am worried that they do not insure the packet that I send, and only insure the return up to $100.00. Something is not right here.
A  15th of Jul, 2008 by    0 Votes
So true about the false television advertising.
You will lose money on 80 percent of your transactions with this company. A bit like what those mortgage financing companies did with people's applications, I would say...

BEWARE of this COMPANY...go to someone local. You have a better chance of monitoring your business transactions.
N  16th of Jul, 2008 by    0 Votes
My htouht would be that a breach of contract occurred with the delay being more than 24hrs and no disclairmer or novations of contract. Therefore I would return the money, request the return of the jewelry or equivalent weight in gold and sell it locally. I would send your request certified mail return reciept and pursuit this with the State Attorney Genral and Better Business Bureau if the comany was not interested in resolving the issues ASAP>
A  17th of Jul, 2008 by    0 Votes
Cash 4 Gold is the worst company I have dealt with! I regret so badly I have dealt with them as I did not get a penny for at least 10 ounces of my gold but hours of headache, stress and disappointments!!

I receive a purchase invoice from them stating that my gold has no value. Well, I wait a few days, hoping they will send it back to me, haven't got anything, I tried calling, well it was around 3rd of July, and after waiting 15 minutes on the line few times, I had to leave a detailed message with my order #, phone #, etc. Another week goes by, no response, I call back, wait on the line for half an hour, finally connect to a live person, they explain that my gold is disposed of, sorry there is nothing we can do. I start complaining, she transfers me to her manager, who started accusing me of not doing my job and not calling them on time - their policy is throw away items within 10 days. Sorry, we cannot give you any cash for it or your product back! I ask why your invoice did not say I have to call you back within few days, as difficult as that is, in order to get my gold back - I was waiting patiently for it arrive right after invoice, then called & no one returned my call - to which he started accusing and blaming me - a sign of week man - that I should have went on their website, found their email and tried that for a change...

Any company that acts this way is ripping off people! My product had too much value that is why they kept it, paid nothing for it, and used the funds to enrich themselves and pay for their advertising...

Very disappointed as I was selling gold because I needed money, I would have got maybe 10% below spot price at the local dealer or Ebay. but had no time to hassle, so since they made it so easy to send it to them with prepaid envelope, I was naive enough to believe it!

You know Nijuuf, I am not afraid of these scammers or their threats, let them sue me, see who wins! I would sue them myself, but don't have time for that...

I am complaining at BBB now, which won't help me get a penny from them, but may prevent other people from giving these crooks their gold or platinum for free. Go to a local dealer, they would pay maybe 5-10% below retail, but still would not rob you in the middle of the day like Cash4Gold did here...
N  17th of Jul, 2008 by    0 Votes
I send a gold watch, and after more than three weeks, I received a check . I made two complaints, and in order to correct their business handling I would like to say "just forget the deal."
A  1st of Aug, 2008 by    0 Votes
I had the same experience with Cash4gold. Their customer service reps never give you a clear explanation as to how much money you will receive. Once you send all of your gold in you are at THEIR mercy. My transaction took forever and the people that answer their phone lines are rude. I will NEVER do business with them again and it appears they are running a scam. I only received $57.00 which was deposited into my account. Someone should really do something about this. Their commercials are misleading.
A  2nd of Aug, 2008 by    0 Votes
When will you people learn that advertising on TV does not make a company fair, honest or worthy of anything. All it takes is paying actors to stand in front of a camera and read lines. Advertising on TV cost money and the cost has to come from somewhere. It comes from your gold jewelry that you send them and if you get ten cents on the dollar be happy. Remember that there is no such thing as a good deal. Before you purchase something from ads on the TV or radio do a quick google search of complaints against the company and check out the FTC website.
N  10th of Aug, 2008 by    0 Votes
Let me get this straight.
You people put actual gold jewelry in an envelope and sent it to some company whose ad you saw on TV, and now you're complaining that you got ripped off?!
Nijuuf, here, claims he sent somewhere between $2500 and $3000 worth!
Bullsh*t. I say Nijuuf is lying through his teeth. NOBODY is that stupid. Or that bad a math.

The degree of blind gullibility displayed in these complaints convinces me that you folks would gladly give away your first born children to the first bearded dwarf who promised you he'd turn your straw into gold. I'd say you should have known better, but the fact that you DIDN'T know better tells me that my advice would be wasted.

Do the rest of us a favor. Don't reproduce.
A  20th of Aug, 2008 by    0 Votes
Sent 2.4 dwt of 10k gold- thats about 3.7 grams to cash4gold .

Received a check for $4.78 dated May 1, 2008.

Check stated that i was paid $1.99 per penny wt or about $1.29 per gram.

Most local jewelers and pawn shops in my town were paying 4 times more than cash4gold paid me.

Requested my gold back and received it as promised.

My Opinion--- cash4gold is honest but just not paying nearly as much as you can get from selling it to a local jeweler or pawn shop --I would recommend selling it locally first before selling it to cash4gold
A  23rd of Aug, 2008 by    0 Votes
don't waste your time with this company. I received the grand totoal of 80.00 for gold worth much more. they are preying on the fact of the downturn in the economy. I was in desperate need of quick cash which turned out to be anything but quick. took more than 10 days. your local pawn shop or ebay would get faster results and higher price
A  25th of Aug, 2008 by    0 Votes
i was very disappointed with the amount of money i received for my gold/silver items I sent into CASH4-gold. i was sent $3.39 cents which was an insult to me. i called and there is no answer. COULD someone assist me in getting in touch with this company? THANK YOU SINCERELY PENNY ALZAWAHREHd
150 STONEFIELD DRIVE #8 WATERBURY, CT.06705
P.S. THE PAWN SHOP OFFERED ME ME I SHOULD HAVE GONE THERE.
A  28th of Aug, 2008 by    0 Votes
I am also very disappointed with the amount of money I received for the gold I sent in. 26.07 for 2 thick/heavy 10kt rings one with 3 diamonds, and 3 smaller 10-14kt. I will say that when I called they did offer to double my money without much complaining on my part. I just didn't realize that they would pay so little for gold that is supposed to be so valuable, it just does not seem fair. I would never do this again, and I would suggest to anyone else not to do it either.
N  7th of Oct, 2008 by    0 Votes
I want to thank everyone for taking time to share their experiences. This type of forum via the internet is so useful. I was seeing the catchy Cash4Gold commercials several times per day and was not considering using them. Then I remembered that I had two 10K gold class rings that I never wear. I looked through their company web site to understand the process and risks. I then realized that putting the items in someone else's hands before the value was determined makes me a little uneasy as does the very limited time to respond to their offer. After reading the posted experiences and other negative ones found via Google search, I'll look to sell them locally face-to-face when I'm ready. Thanks again.
N  21st of Nov, 2008 by    0 Votes
Looking at supposedly Michael Phelps and others have endorsed these crooks must be a fake advertisement. I sent them gold and it took 9 days for them to even acknowledge that they had received my materials. When I did receive my check it was a disgrace what they are paying people for their gold. I email them right off and requested my materials back and they offered me a additional amount of money when I refused to accept the pennies that they were offering then they instructed me to send the check back and they would return my items as soon as they received their check. I sent their check back priority mail and sent them a self address stamped priority envelope for my items to be returned because I did not want any excuses for returning my items it has been 9 days since they received their check back and I still have not received anything in the mail. I am going to contact the BBB in Tulsa, OK and inform them of this scam and make sure that all the people that I know do not use these crooks. They have made a killing off of people in the short time that they have been around. The good Lord do not like ugly he will fix these kinds of people. I feel real sorry for them when it comes around to their time to pay the cost at the day of judgement.
N  21st of Nov, 2008 by    0 Votes
Sounds like a scam from the beginning - i would NEVER send my gold AWAY to THEN receive a check later.
I brought my gold that I chose to sell directly to a store - and received cash on the spot and i was very pleased w. the whole transaction, that took about 15 minutes -
Its the much better/smarter way to do it...
N  26th of Nov, 2008 by    0 Votes
This person is an idiot and I know for a fact they will NOT accept a personal check for return of gold and read the agreement before ya do something, or do you want the government to wipe yer ### too?
N  26th of Nov, 2008 by    0 Votes
p.S. Bravo anonymous
N  29th of Oct, 2009 by    0 Votes
Why would people send gold and even diamonds to a company that advertises on TV? I blame our educational system. It does nothing to teach critical thinking. As a result, we have a nation of gullible old fools. Fools who don't care that our children are not being taught to be careful of advertising promises. So our educational system never changes and people don't learn to take the time to think when it comes to cons, scams, and hoaxes. I hate to see people suffer, but, unfortunately, they're getting exactly what they deserve. This won't change until we overhaul what is taught in grades 1-6 throughout the USA.
A  16th of Nov, 2009 by    0 Votes
I sent 30 grams of 9ct gold, received a call saying it was not hall maked therefor worth less, I pointed out it makes no mention of this on the web site, so they offered me £190 for it, that was a quick increase in the gold price? I said there was 30 gms and she stated that the best they could offer was £200, another rapid increase in the price of gold, or maybe staff trying to make a quick profit at the expense of customers.?

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