I'm sure you've heard and seen the commercials... send your unwanted gold jewelry and receive high cash payouts. Right. That's about as smart as driving my car to a crowded city and leaving it running with all the windows open while I get out to use a gas station bathroom- a dirty rip-off waiting to happen.
Yet people are doing it!! And they're shocked when they discover they've been had:
Bari of Milton WV (12/20/08)
Cash4gold is the biggest scam i have seen in my 48yrs of life. i sent a package over a week ago and have not heard anything. When you try to call no answer or busy..I do not have tracking number so can not go by website.This company ad needs to come off tv, i believe they prey on the poor and the elderly. It is sad that people are not honest.I think this company and its'many sister companies should be sued by all. and shut down..I am on a very limited income and thought this might help me out a little. I seems it is not going to do anything but stress me out...
Mildred of Ridgewood NY (11/01/08)
I sent in some pieces of jewelery a few pieces were 14k and i also sent in some sterling silver pieces well i had to wait close to 2 weeks for the online tracker to keep saying it wasnt received yet i emailed cash4gold and a rep emailed me back that wait 7-10 business days well two days later they got my gold package and a week or so later they sent me a check of 16.00 what the heck am i seeing i could have gotton more money by taking it to a pawn shop they are a bunch of rip-offs and i dont recommend anyone to use there service if you want fast money go to a nearby pwn shopp i got 80.00 for a ring and a small brcelet at a pawn dealer I hope people will take this complaint and use it wisely cash4gold is a big rip-off
This site has countless complaints like these. But my FAVORITE write up is by the person who used to work there. Here's a snippet:
3. Your jewelry gets appraised by hand, a magnifying glass, a plastic container, a small weight pad, and a bottle of ORANGISH fluid, which your items are then determined a value for. Not million dollar equipment or specially trained jewelry experts. The company was temporarily closed recently due to health and code violations. I have witness testers being transported to Medical Centers, due to the testing department environment. There is literally a cloud of smoke in the air from acid and other testing material. If you were thinking it was some state of the art testing facility, you thought WRONG.
4. Although the payment (check) for your item is dated within 24 hrs of testing your jewelry, we SOMETIMES DO NOT actually send out the check until up to 3-4 days later. (if you are a customer check the date the check was issued against the stamped date on the envelope.)
5. We do offer a 100% Satisfaction Guarantee or your jewelry returned, BUT THE CATCH IS, that the guarantee is to contact us within 10 DAYS from when your check is DATED. (This begins with the time it took for the accounts payables dept. to ISSUE the check and also including the TRANSIT TIME for you to receive your check in the mail. **** NOTATE THE COMMERCIALS THAT INSINUATE THAT YOU GET YOUR CASH IN 24 HRS.*** If you request (sign) for FAST CASH (direct deposit) you automatically WAIVE your rights to have your items returned, EVEN if you are not satisfied with amount of your deposit.
6. You generally receive your check around the "7th-10th" business day, AND majority of the time Customers are outraged when they lay eyes on the amount of their check. Some Customer's even receive a check for 0.01 cents.
*Definition of a BONUS: We issue low checks just to have you call us back if you are smart enough to realize that you just got scammed. For the smart one's we are paid to offer u a bonus up to 3x the original amount of your check and you accept. For ex: Sally Smith receives a check for $27.86 for a Rolex watch(which we don’t issue value for), a class ring, a ring with diamond chips, a pair of earrings with emeralds, as well as a few sterling silver pieces, and maybe a few items that were really of no value. Now Sally Smith calls the cust srvc dept, where she speaks to a rep who seems so concerned and will see if she can do better with the amount by speaking to a "SUPERVISOR". We then place the caller on Mute, and speak to our neighbors or doodle on a sheet, or twiddle with our hair for about 45 seconds, while we are supposedly speaking to our supervisor about Ms. Smith's complaint. We then come back with an offer to "BUMP UP YOUR MELT DATE or any other lies the cust srvc reps can think of, and offer you a total amount of $53.20 which is a little under double the amount of your original check; in which case if you accept, the cust srvc rep makes a 15.00 bonus off of your transaction. If the customer service rep offers you under triple the amount of your orig check, he/she makes 10.oo in bonuses.
So, how long until we see the Class Action Lawsuit notices about Cash4Gold??
In other money news, there are people leading a revolution against the penny. Yes, there is a war on small change and even the likes of US News and World Report are getting in on it.
Part of the argument is that manufacturing the penny costs Americans 54 million dollars each year. So I guess whether it's sending gold to strangers or waging war on pennies, we're at a point in time where Americans have concluded that the best way to deal with a tough economy is to throw away money by making pennies and blind-mailing jewelry.
(not me, I still do battle with the homeless and elderly when returning my bottles and cans at the grocery store)
But I must say, the Penny War certainly is something I'd get behind. Afterall, without the penny it'd be harder for Cash4Gold to pay people the $.04 they have been, plus banning the penny would mean the eventual demise of that other racket known as Coinstar.