CASHFORGOLD - SOMETHING FISHY HERE

[BIG61AL]

http://webmail.aol.com/41757/aol/en-us/Suite.aspx

I knew these companies sounded sneaky. I have used the gold kit in the past and was not happy with payment.
I use MIDWEST REFINERIES only now.

 

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[mountainplayer]

Hi Big61Al,

Check out this link, and then make sure to read through the original story. In a nutshell, Cash4Gold offered a guy $60 for his gold. When he told them to send it back, they immediately offered him $178.

After the story was posted, it quickly achieved a #1 Google page rank for the search term "cash4gold". That's when they started their damage control.

Let the seller beware.
http://cockeyed.com/citizen/goldkit/reputation.shtml

MP

 

[lafatlife]

you know I would see those commercials on t.v. and thought what a sham it was. I just saw one yesterday where an older woman said she got 1000 dollars for all her gold. I was thinking...."Lady, gold is 1000 dollars an ounce, you got ripped off".

Now I know my feelings were right about that place.

Thanks for the info.

 

[JakefaePa]

Theres an entire website set up to warn people about cash4gold.

http://www.complaintsboard.com/complaints/cash4gold-c117648.html

Thats a link to an interesting article and interview with a former employee who pretty much sums up what mountainplayer says , they offer you a low price and then a better one if you dont agree.Its policy to offer a ridiculous low price first , apparantly a lot of people do not pursue it or simply dont know any better.

 

[MEinWV]

It all comes down to the age old Latin phrase ,"Caveat Emptor"= "Let the buyer beware"

When I first saw the add on TV, I said to myself, "Who would actually send their gold through the mail like that?"

Even if they were on the up and up, Can you imagine how tempting it would be for some postal workers(I said some) to scoff up those little packages of "FREE" gold.

No way, not good!

 

[JakefaePa]

Its not just the fact that they rip off people enmasse but its also the perfect fence for any burgler or mugger , just send your stolen goods here and they wire the money on line to an account of your choosing , perfectly anonymous.

 

[Massbaycolonist]

We get a lot of these type of commercials here in Massachusetts. Apparently there are quite a few of these kinds of companies, and they all have the same strategy: To buy gold at deeply discounted prices.
I follow the price of gold. I make and maintain data bases on the price of precious metals. I have been doing this for years. Also, I have a Gold Spot Price gizmo on the home page of my computer, so I always have a good idea what the price of spot gold is.

One company that advertises on TV for cash for gold always states: The price of gold is at an all time high!" Have you seen that one? You would think a normal person might ask themselves, "How can the price of gold always be at an all time high?" Obviously it can't be, unless the price of gold is always going straight up. Whenever I see this commercial, with its claim that the price of gold is at an all time high, I am amazed that the government allows these companies to make such fraudulent claims.

I think all of these companies are trying to rip off the naive and the elderly. I think these "send in your unwanted gold now" types of companies should be shut down, and made illegal asap.

 

[JakefaePa]

I couldnt agree more , they are targetting the elderly who may have accumulated gold over the years , also the nieve who know no better and throw thieves in the mix and it stinks to high heaven.
If gold is at an all time high how come everybody on the complaints board is saying they got $20 for a big bag of it ?

 

[girardpaguy]

I think they are a scam. How can they give you even close to the going rate for gold?

 

[JakefaePa]

They dont , how it works is no matter what you send in the first offer will be extremely low.They are preying on the fact the elderly and nieve wont protest and keep the almost worthless cheque.
The people who do protest get a 2nd offer , still far below what the gold is worth but much more than the first offer , some people might think they beat the system and accept that cheque..it still is way below actual value.

Now think about this , in the commercial they show gold being melted or cleaned or whatever , a hand reaches in to the pot and produces a handfull of diamonds.
Now where exactly in all this does the cash for precious stones come in ? It doesnt , its just cream on the cake for them.You get a pittance for the gold and we just wont mention the stones is how it works.

 

[Seamuss]

The offer that Cash4Gold makes is shady at best. They figure if your gold is out of site...out of mind.

Keep your gold and run to the refiner that is advertized by word of mouth. Midwest refiners back east. AAA Refiners in Portland,Or. And a few others are good companies for the little guy to deal with.

Stay away from those info-merchials. Fly by night spam artist.

 

[JakefaePa]

To be honest if you have to sell gold or silver ive found ebay to have consistent prices.You can do well with scrap gold and silver there and probably more than spot if you just sell it for what it is , a piece of jewelry or coin or whatever.

Dont you just love the way they call your gold "scrap" , its not.

 

[Seamuss]

To be honest if you have to sell gold or silver ive found ebay to have consistent prices.You can do well with scrap gold and silver there and probably more than spot if you just sell it for what it is , a piece of jewelry or coin or whatever.

Dont you just love the way they call your gold "scrap" , its not.

Dido.

Some people are fooled by infomercials and think there is a quick buck there. And there is for the adverizer.

Ebay is a little better for your value of jewelry or coin value precious metals then refineries. Refineries are better then the scam artist at Cash4Gold

 

[elkman13]

Seen a take on TV this am about gold buying mail drops. Test said 14k with $430 value. Three main companies would not offer much. Couple would double offer if first offer turned down. Cash for Gold was really bad. Would pay only $60. Has 300 BBB complaints. Pawn shop offered $430. One company $4 gold said it was only 10-12k. All are a rip off.

 

[mlayers]

Just or fun I sent away for one of these kits. All there was in it was a return evelope and a check list of what you are sending. I tose it in the trash. I started getting email from them wanting to know it I receive my kit. This went on for about a month. I finally email them back and told them if they could not tell me what they are paying for 10k, 14k and 18k per penny weight that they was rip off artists. Guess what I have not heard back from them again. So they must be rip off artists....Matt

 

[RoadKillDave]

I read an article on MSNBC where they checked it out as well. It was a real rip-off!

 

[deepskyal]

I don't think it's a scam. It's just like the local pawn shops. If you need the money, they'll give it to you in exchange for your goods. No one said the price was fair. They tell you gold is at an all time high but they do not tell you they are going to pay that price.

There's a sucker born every day...and those that will take advantage of them.

They do the same thing at the expo shows and advertise they're buying gold..."today Only" at such and such a place. And of course, people go and sell their gold way below market price.

Do you buy coffee in a vending machine? a dollar? Do you know what that cup of coffee is really worth? A spoonful of coffee grounds and water. This is the biggest profit maker for vendors because it only costs them pennies to make it. Are you getting ripped off or do you gladly buy that cup of morning joe? If you're willing to spend that buck for it, then it's worth it. Same goes for cashforgold. If you're willing to accept what they offer you for your precious metals, then it was worth it to you.

This is the downside to capitalism...take advantage of the uninformed. Cashforgold is a gimmick, not a scam....and I bet very profitable.

Al