The Article Cash4Gold Doesn't Want You To Read

[cleggstore]

Cash4gold: The Article Cash4Gold Doesn't Want You To Read

To understand the basic deal that Cash4Gold offers, we turned to Consumer Reports' "mystery shoppers" – the nationwide team of anonymous consumers who help buy the gear that our parent company test. The mystery shoppers sent 24 identical gold pendants and chains to Cash4Gold and some of its national competitors. The necklaces were purchased for $175 each. We calculated their "melt value" – meaning how much the raw gold was worth – as about $70 each, based on the market price for gold when the necklaces were received by the companies (during the test period, the price of gold fluctuated, but never dropped below $900 an ounce).

Our tests – which lasted from May through early July – found that Cash4Gold and its competitors offered simple and relatively transparent service. Online tracking systems were updated promptly, the companies generally mailed out checks within a day or two, and customer service reps were courteous and professional. The actual offers, however, were miserly. Cash4Gold sent back checks ranging from $7.60 to $12.72 (or 11% to 18% of melt value), the lowest amounts of any firm. But others weren't far behind: GoldKit offered $7.81 to $20.59, and GoldPaq $8.22 to $13.11. Each of those deals was worse than what our mystery shoppers could get at local jewelers and pawn shops, which offered anywhere from $25 to $50. The results reinforce advice we've offered before, which is that consumers should not use these highly marketed services because the payments they offer are too low. No matter how nice the person is who gives it to you, a bad deal is still a bad deal.

[SMOKE20]

WOW, that is prety bad

[suretolose]

I figured it was bad, but not that bad. wow

[tx_tuff]

If there where not making money off of it they would not be in business! I am a little surprised how bad they screw them but I knew they where doing it.

[GJProductions]

I'm really not surpised

[tobacmon]

Free money for the taking---What a professional companies they are---Shysters!!!

[holmes711]

I hate when companies feed on the desperate.

[GrtndpwrflOZ]

What does anybody do that isn't marked WAY up?

[Cigary]

Yep, I figgered as much. Pennies on the dollar for the recipient and they get to keep most of the proceeds.

[SmokeRings]

I just read that whole article posted on consumerist. The business is located literally 2 minutes from where i live. Thats hilarious and I never knew that. I really hope they shut that place down, taking advantage of vulnerable people and the elderly. jerks.

Thanks for the article man

[Bigtotoro]

Not to be a jerk, but did any of you expect any less? Have any of you ever sold cds books to your local used store?