Cash4Gold.com / delay and ripoff
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!
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