Beware of Cash4Gold! It's a scam! Do NOT send them your jewelry!
By mentalward
@mentalward (14691)
United States
April 16, 2009 9:35am CST
I wanted to warn everyone in the U.S. about Cash4Gold. I belong to MyPoints and was given 25 points to request a Cash4Gold mailer from Cash4Gold. Of course, I went for the points and received the mailer.
It sat, for months. Finally, I got curious about it because I have inherited some pieces of gold jewelry from my mother that have no sentimental value to me and thought about selling them. One piece is half of a Mizpah coin, which is worthless without the other half, except for the gold value.
I've learned to check things out carefully before making any kind of financial dealings with anyone online... THANKFULLY! First, I read the small print that came with the mailer. I saw all kinds of things that sounded like they could very easily cheat you out of thousands of dollars!
I did a search for 'Cash4Gold fraud' and hoo boy did I ever hit the jackpot! There are many, many sites with complaints against this company.
Their commercials make you think you'll get what your jewelry is worth, or close to it. Definitely NOT the case! I read one complaint, written by a former employee of Cash4Gold. She said that some checks they mail out to people are for as little as $.01! If you call to complain, they'll offer to double that amount, or even triple it. How many of you know of ANY piece of gold jewelry worth one cent?
Plus, they claim they will not accept any package shipped to them that appears to have been tampered with. THEY can 'tamper' with it (by removing some of the jewelry) and claim the postal service did it! They ONLY insure each package up to $100.00 and your jewelry could realistically be worth thousands of dollars!
I just wanted to warn everyone about this vicious scam that is advertized on TV! (Oh, there are government officials already working on shutting these guys down after so many complaints have been made against them.)
The site I read is here: http://www.complaintsboard.com/complaints/cash4gold-c117648.html
If you're thinking about sending your jewelry to them for some extra money, DON'T! A bona fide jeweler in your area, or even a pawn shop, would probably pay you much more than these guys at Cash4Gold!
10 people like this
18 responses
@Thoroughrob (11742)
• United States
17 Apr 09
I have a friend who sent them some jewelry. They claimed it was lost in the mail. They sent her $25 for hers even though they claim they did not get it. It was worth alot more.
2 people like this
@commanderxo (1494)
• Canada
16 Apr 09
Thanks for that info mentalward.
Although this will not affect me since I live in Canada, I can offer the same advice for those who seek out these "scammers", here in Toronto. Yes, we have them too.
You my dear, are a treasure in itself.
cdrxo
@mentalward (14691)
• United States
16 Apr 09
I only have a few minutes to peek in here and read all the responses because I have a doctor's appointment soon and have to get ready to go but, when I read your comment, it just melted my heart. I HAD to respond now.
Thank you SO much for such a nice compliment! I've been really, really tired lately, not having much 'oomph' at all and, naturally, that depresses me because, well, you should have seen me in my twenties and thirties, even my forties... I was a fireball of energy!
Your sweet compliment has really perked me up! Gee, now I don't NEED the doctor's appointment! Just kidding... I'm going to see my rheumatologist to discuss my nerve conduction study results, so I have to go.
I'm always happy to help wherever I can. If this discussion stopped even one person from being robbed by this company, it was definitely worth it. In our economy here (which really is absolutely horrible in the States), finding people or companies who are praying on those in dire need and virtually stealing what little they have, it just makes me sick and I want to do whatever I can to stop them. In the article I read, the gal who wrote it asked if everyone reading it would please spread the word that this company is fraudulent. Naturally, I thought of myLot first.
Again, thank you for that compliment. Your kind words have really made my day!
2 people like this
@mentalward (14691)
• United States
16 Apr 09
Oops, I misspelled 'praying'. It should've been 'preying'. Sorry. (I used to be a proofreader and am compelled to correct my own mistakes. )
)2 people like this
@commanderxo (1494)
• Canada
17 Apr 09
For you sweetheart...anytime.
Take good care of yourself, and good luck at the doctor's.
cdrxo
PS: Like you, I too am compelled to correct my spelling errors from time to time. (Must be in the genes?)
Anyway, you have yourself a great day. I thank YOU first of all for those kind words, and secondly, for the consideration you have for other people's welfare.
Cheers;
cdrxo
1 person likes this
@Foxxee (3651)
• United States
16 Apr 09
I have always wondered ab out Cash4Gold... I know a family member that took her ring to the pawn shop first to see what they would offer for it, they offered $40. She still refused even though $40 was way more then what she thought she would get for a ring she didn't even care about & was only 10k... Anyway, she sent it in to cash4gold... she had nothing to lose really... but anyway... it took a month, but she got a check for $70.01...
I guess some are lucky & some are not...
It's a chance people take...
1 person likes this
@mentalward (14691)
• United States
17 Apr 09
Wow! She was definitely lucky! Maybe the person who opened her mailer was honest and refused to follow "orders" by swindling people at every opportunity. According to that gal who wrote the complaint I read, when she was hired there, they were given specific instructions on how to scam people out of their money.
It could be that, once the person who got that ring heard of the underhanded practices there, they made a point of NOT taking advantage of people.
I'm sure they give some people what the jewelry is worth, based on the value of the gold so that they would argue in Cash4Gold's defense, should it come down to that.
Still, I wouldn't want to send anything like that through the mail unless it was insured for a LOT more than $100.00!
1 person likes this
@penny64 (1106)
• Australia
17 Apr 09
Wow! We don't have anything like this in Australia - at least not that I know of. There are lots of companies that will buy your unwanted jewellery, but none that ask you to POST it somewhere. Even if the company was honest, I would not trust our postal service enough. There are so many people out there hovering around ready to pounce on your money any way they can ... it's really quite frightening. We have to be so careful all the time, and it hurts society, because it is difficult to trust anyone any more.
1 person likes this
@penny64 (1106)
• Australia
17 Apr 09
No, $100.00 insurance wouldn't go very far, and it would be hard to insure for any more, because it is too easy to scam the insurance company ... and so the problem continues. I hope that people are smart enough to do their research first, like you did!
1 person likes this
@mentalward (14691)
• United States
17 Apr 09
That's true everywhere these days, penny. It hurts my soul. I've always been a very honest person and also very trusting. The realization that I had to stop being so trusting was what hurt but, if you're burned enough times, putting a halt on the trust issue isn't too hard.
The postal service here isn't good, either. I watched a TV program about 'dishonest employees' who were caught on videotape stealing from the company. Three of these employees were United States Postal Service employees, going through and opening packages and envelopes entrusted to their care. Luckily, they were caught but who knows how many haven't been?
No, I wouldn't mail anything like jewelry anywhere unless it were insured for a lot more money than it was worth, not the $100.00 Cash4Gold insures these for.
2 people like this
@taface412 (3175)
• United States
17 Apr 09
I just checked them with the BBB (Better Business Bureau) and they are not accredited and considering they deal with jewelry you would think they would be.
They score them as a D- which is really bad. And here is the beginning quotes from the comments and anaylsis from the BBB:
"DUE TO THE NATURE OF RECENT COMPLAINTS RECEIVED BY THE BBB, THERE APPEARS TO BE A SERIOUS PROBLEM WITH PACKAGES SENT TO CASH4GOLD NOT BEING RECEIVED. THE BBB ENCOURAGES CONSUMERS TO USE CAUTION WHEN MAILING PACKAGES THAT YOU FEEL MAY BE WORTH MORE THAN THE INSURED VALUE LISTED IN THE TERMS AND CONDITIONS OF THE COMPANY. IF YOU DECIDE TO DO BUSINESS WITH CASH4GOLD YOU MAY WISH TO INSURE YOUR PACKAGE FOR THE VALUE YOU FEEL YOUR JEWELRY IS WORTH.."
Here is the link if you want to read more about the company from a trusted source. I always use the BBB for a reference and trust them well.
http://www.seflorida.bbb.org/businessreport.aspx?companyid=16000679
1 person likes this
@taface412 (3175)
• United States
17 Apr 09
They could always say it was an old commercial....you know how people can stre-t-ch the truth LOL....I saw that also about the lost stuff...how convienient.
Your welcome and hope others begin using the BBB. I love them.
1 person likes this
@mentalward (14691)
• United States
17 Apr 09
THANK YOU, taface!!! That's awesome information! It more than backs up what I said. Thanks also for posting that link!
I like the way the BBB worded it, but who in their right mind would send this company any jewelry at all after reading about the serious problem with packages not being received?!? That's one of the things Cash4Gold mentions in their small print: "We are not liable for packages lost during shipment."
We don't normally worry about packages getting lost by the postal service. Although they sometimes are, it's rare. Cash4Gold's percentage of "lost" packages is MUCH higher than the entire United States Postal System's, I'm sure!
1 person likes this
@timhinyy (1653)
• United States
16 Apr 09
there is a bunch of those commericals now for many different ones for sending in jewelry for cash i often wonder if any of them are legitimate. i guess its a good thing i don't own any jewelry. i would have a hard time believing i would get what something was worth from any of these places better off to get something appraised for its value if you were thinking about selling it and probably better off selling it yourself then to one of those places who are only in it for themselves.
@mentalward (14691)
• United States
17 Apr 09
I agree, tim. These guys "buying" gold give you nowhere near it's worth. Many years ago, I took some gold rings I had that I never wore to a place that was set up in a reception room of a major hotel to buy jewelry. One of the rings was a diamond ring, worth $400.00 in 1946 (worth much more than that 40 years later). I had 5 rings, including that diamond. They offered me $30.00 for all of them! Needless to say, I didn't sell them even one of them. Even looking me in the eyes, they didn't flinch while trying to scam me out of hundreds of dollars worth of jewelry.
Your idea is best. I don't think it would be hard to get at least half of what something is worth if you have the appraisal to give to the buyer, even in today's economy.
Geez, I have the TV on right now and guess what's on? Yep, a Cash4Gold commercial. 
1 person likes this
@cher913 (25782)
• Canada
16 Apr 09
thanks for the heads up! it is important to share everyone's wealth of knowledge and you are right, there are people that will buy scrap gold in your area and they are probably more reliable. i find that not that many people will give you much for your jewellry these days though.
1 person likes this
@sacmom (14192)
• United States
17 Apr 09
I had a feeling it was some sort of scam. It just sounded "too good to be true". Fortunately I never sent any gold in to them or other places like them that I have seen on TV. Not that I have any gold to send in anyway! LOL Thanks for the heads up mentalward! 
1 person likes this
@scarlet_woman (23465)
• United States
16 Apr 09
sending off gold is never a good idea.
i was watching a show about these guys on the MSN channel-the journalists had some gold appraised at $700 before they shipped it off,cash 4 gold told them it was low quality,only worth $250 or so.they confronted them with the appraisal they had done first,and then they changed their story."oh,well maybe we could go $400."
pft..scam artists.they should be ashamed of themselves.i wonder how much they've conned out of the elderly by now.
1 person likes this
@pyewacket (43903)
• United States
17 Apr 09
Thanks for the heads up on this. Like you long time ago I requested a mailer, got it and it's been sitting collecting dust ever since..LOL. For some reason I would imagine it would be best to deal with a precious metals (gold, silver, platinum) place directly. My mother and grandmother used to go to this place I think in the Empire State Building, one of the top places to go to, to get cash for jewelry....sadly, that's why none of the family heirloom pieces of jewelry are around anymore. Some pieces should NEVER have been sold, like my great grandmother platinum set cameo brooch or my great-grandfather's all gold pocket watch
1 person likes this
@fit4lifein07 (719)
• United States
16 Apr 09
thank you very much for your information and research, i was considering using it and now you have helped me with my decision not to, i think i might just sell it to a pawn shop or on ebay!
@mentalward (14691)
• United States
17 Apr 09
I never thought they could be too reliable because they leave way too much room for scamming, but thought that if I mailed them one piece, just to see how honest they were, it wouldn't hurt that much.
But, that was before doing my investigating. I'm glad I did! Oh, I might have been a "lucky" one and received something, because I'm sure they have to give a few people what their jewelry is worth, just so they could get some good references to counter all the complaints, but I'm not usually the "lucky" one so I didn't do it.
I'm glad I talked you out of it, too! You might be able to get a good price on eBay. It helps if you have an appraisal on it first... people are more inclined to spend their money online when what they're buying can be "proven" as real.
1 person likes this
@bellaofchaos (11538)
• United States
17 Apr 09
I have to say that the commercials make it look very interesting to do that and that I would never do it because I don't trust things like that. My first rule of thumb is if it sounds to good to be true,looks to good to be true then it is to good to be true. LOL!!! But thanks very much for bringing awareness to all.
1 person likes this
@Chevee (5905)
• United States
16 Apr 09
Thanks for sharing, I too got one of those packages with the Cash4Gold envelopes in it. I just did it to get the 25 points for MyPoints, however I never sent anything back with with the mailer. I really never intended to. Again thanks for the warning.
1 person likes this
@emilie2300 (1882)
• United States
16 Apr 09
I have always thought that company was a fraud. I didn't see how they can pay all that money to those people for unwated jewlery.
Good reserach on your part. Yeah I bet you found alot of complaints on them I bet Better Bussiness Bureu got a lot from them to.
1 person likes this
@Lindalinda (4111)
• Canada
16 Apr 09
I am glad you posted this. I often wondered who would be trusting enough to mail off a piece of gold jewellry and how one would know if the recipients are cheaters. It is so sad when people rip off other people. In these times of economic hardship a lot of people will be tempted to generate extra cash from items that are just stored in boxes, however, you offer some good advice. People should go to a local jewellry shop or a pawn broker, or both to find out what they could get for their old gold jewellry.
1 person likes this
@schulzie (4061)
• United States
15 May 09
Wow! I don't remember seeing this e-mail from MyPoints and I have belonged to that site for forever too. I will have to go check it out for the 25 points.
Yes, I do understand what you mean about being very leary and skeptical of online sites that buy gold, etc. You never really know who you are dealing with and it is very easy to be taken advantage of and ripped off. I know there must be thousands of people that have been ripped off from that company.
Have a nice day and happy myLotting!!!
@moonlitmagikchild (22181)
• United States
16 Apr 09
i had a feeling it would be.. my first thought was HOW can you be sure they wont say they lost your mailer or that you were lying about what you put in it?? i dont have anything of value to send but if i did i would hit a pawn store first lol
1 person likes this
@fran429 (502)
• United States
17 Apr 09
LOL! Hi Mentalward. I've often laughed hysterically when I see the commercial. Always wondered how often they turn around and claim they never even recieved your mailing. I always just assumed it was a scam. It takes a LOT of convincing me that something is real and true to its word unless it's a building physically standing in a location that I can physically (and easily) walk into on my own and make the transaction.
Glad you made the research before you fell for their tricks!
Fran429
