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Cash4Gold Complaints

Cash4Gold - Former employee exposing the scams of Cash4Gold

2009-07-14 11:41:35 by Former Cash4Gold Employee
I would like an article to be posted pertaining to the refinery Cash 4 Gold, located in Pompano Beach, Fl. I am a former employee, who would like to alert/warn the public on the scamming process involved with this company. There are many of us who would like to vouch on behalf of this fast growing scam. We would like to get the word out to everyone on this step by step scam which involves so many people in this country and their valuables.

Below I have attached the full details on the scam involving this company. We know this first hand, because this is how we were trained. Please take note of this information and do what you can to get the word out there, especially in a time when the economy has truly affected everyone for the worst. Thank you!

I am a former employee of Cash 4 Gold. I did not know much about the company before being hired. On my first day of being hired, I was taught the "Cash 4 Gold Scam" from beginning to end.

1. The "refiner's pack" that is used for you to put your jewelry is "insured for UP TO 100 dollars, " according to how much they determine from a description from you, the worth of your items to be, NOT an actual fully researched appraisal.

2. We receive your "Refiner's Pack" within 3-4 days, BUT we are instructed to tell you that it takes "7-10 business days, for us to receive your pack, ALTHOUGH many times, your package has already arrived.
(All cash4gold customers who have called customer service to track a package can vouch for this)

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.

7. There have been times when we have received your package and MISPLACED or LOST it at the facility. We CLAIM to not have received the items and even try to convince you that it was lost in the hands of USPS. At which point we begin an insurance claim process on your package. We ask you to send us an itemized list of the content of the package, trying to be as descriptive as you possible can (if you can remember everything in full detail) and a copy of your state issud ID. We then issue an INSURANCE CLAIM for UP TO 100 dollars. GOD FORBID your items are worth more then a 100 dollars. If you call customer service to check on the status of your shipment, and we actually have not received your package, we inform you of the insurance claim process. For those who know that their items are worth more than a hundred dollars, they become very upset and threaten to take action against the company, at that point we inform the customer that if they knew their items were worth more they should have added additional insurance at the Post Office. BUT unless you are paying to ship your items in a completely different package other then the refiner's kit, you are unable to add insurance to the package.

8. For those who do get in touch with us within the allotted time frame, we already know what you are calling about. Customers want their items returned, because there
check amount is so insultingly LOW. The first thing a Rep will
ask you is "HOW MUCH WERE YOU EXPECTING TO GET BACK?" This way we can know how much to "BONUS" you.

*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.

9. If you accept the offer, the deal is done, and you are told that the call is recorded (which most of the time, the record button does not work, or the box if full.)It’s just a way to make your feel binded by a verbal contract. IF you do not accept the deal, you have to return your check, and it takes sometimes up to a month to receive your items back after we receive the check.

10. If you only want the items that we do not find of any value back, you have to pay 10.00 shipping and handling fee to have your own items returned, which varies. Although it is listed under the terms and conditions, this charge varies from a 10.00-15.00 charge to NO charge, reason being, UNSURE.

Cash 4 Gold is definitely not a trustworthy or credible company to do business with. You are almost better off taking your items to a local pawn shop or shopping around for other companies. With the economy the way it is, Cash 4 Gold seems to be a way out of financial stress for some, but in actuality becomes a stress of its own. I would advise you to think twice before sending in valuables or items inherited and of sentimental value, its not worth it.
109 Responses
Responses
2009-09-02 05:20:57 by SamGal
jaquin phoenix, how long have you worked for Cash For Gold, and do you always work as a paid propagandist?
2009-09-02 05:23:05 by Blueballs Beard
Easier thing is don't go with these companies at all. Only people really stupid seek money from these companies as obviously they're a business and they're set up to screw you out of the worth by paying only 10% at max of the value of the gold.

Pawn shops are known to do this, but it's more well known. Gold hit a high and that's why the value increased and they're targetting people this way. If you fall for this you're likely to fall for many scams.
2009-09-02 15:37:45 by erika
Wow, when I got online and read about this place I thought "well, let me send them some broken pieces of gold that I don't wear and could possibly be worth money". I contacted their customer service department and asked them very specific questions in which they couldn't even answer while reading their script. I asked about receiving a response back from the company concerning the amount they were willing to pay. The rep said "we only deal with you by email" What the hell kind of company is this? What the hell is MC Hammer doing promoting this company? I think he would do a better service to promote his parachute pants.

People, please do your research, contact the BBB/Scam Alert/District Attorney's office/FBI whatever public agency you can before doing any business with this company or other related business. Your gold is worth it.
2009-09-02 16:27:25 by hello?
some company says send me your valuable gold items and i'll pay u... huh? if that doesnt scream scam, i dont know what else would.

btw, if you like to send me your gold for cash, i can give you a better price. ha!
2009-09-02 21:21:27 by rebeccapharr
Reading the "expose" by the former employee leads me to believe that cash4gold really is legitimate and this is probably just an employee that was fired for doing a bad job. Much of the "scamming" he describes is just coping with ordinary human error in a business. Furthermore, the gold is really chemically tested, according to his description, My ex-husband was a hobby jeweler, and he was licenced to use cyanide, which is a harsh, very potentially harmful chemical if used carelessly, in his jewelry making, as a professional quality jewelry cleaner, so the fact that the "orangish liquid" caused health problems is not surprising. And the supposedly deceptive promises of the mailing times are probably not deliberate but reflect problems that are common in any business using the mail. I sent for the kit, and if I feel I've been scammed after receiving my checks, I'll eat my words. However, I don't expect to be disappointed.
2009-09-03 23:34:55 by justforkicks
so glad I checked on this before sending in my no longer used gold items...we all know when something sounds too good to be true..it usually is...but with jobs being lost and people losing their homes and so forth...any way to make a few extra dollars is going to attract attention and companies such as cfg know just how to prey on people...shame on them!!!
2009-09-04 10:04:13 by john kinsler
sam gal, you are wrong. jaquin phoenix, is right. For people who are just reading these comments and not using cash 4 gold you are stupid! Cash 4 gold has a fantastic layout of there rules and regulations. This place will out bid anybody for your gold and give u a respectable offer. FOR ANY PEOPLE WONDERING IF THEY SHOULD USE CASH 4 GOLD IM YOUR REAL SOURCE IVE DONE IT AND HAD GREAT RESULTS PLEASE USE CASH4GOLD! DONT EVEN GET OTHER BIDS BECAUSE CASH 4 GOLD WILL GIVE U THE BEST BID
2009-09-06 23:31:01 by Texas Tim
Don’t even get another bid? That would be what many folks call stupid. Yes! You John, are stupid!
But to be fair, C4G is not a scam. Scams are illegal. The fact that they have scripts tells you they walk the tight wire of legality and/or hire people who need to be scripted to keep it legal. This is a simple case of caveat emptor. If you look at that aaacashforgold.com site, they show you how much they and others pay for gold. C4G doesn’t. If aaacashforgold is lying about the other’s payout, the others aren’t complaining. But do the math. The best payout is @$660 per oz of 24k gold. Current market price is @$1000 per oz of 24k gold.
Must be nice to have gold laying around the house.
2009-09-07 20:23:22 by sheila murphy
I was just checken out this cash 4 gold when i came acrose this o boy am i glad i did as i was going 2 email them 2 send me out 1 of thouse bags so i could send my gold 4 cash i realy want 2 ty giys and 2 say keep up the good work xx
2009-09-11 11:43:41 by John Caplan
Good expose on the internal workings of Cash4Gold, but quite frankly I'd bet the behind the scenes look at QVC, Home Shopping, OxyClean and the like would have their faults as well including hidden employee bonuses, intentional slow pay and processing. I don't think anyone would really care if Cash4Gold paid a fair price. But the reality is that Cash4Gold and many of these huge scrappers with large employee payrolls and huge advertising expenses only pay 20 to 40 cents max on the dollar. Hardly fair by any means. As a "mom and pop" scrapper with only a few employees we're paying about 90% of scrap and we pay our customers (all of whom walk in our front door) immediately. I suggest those who want to scrap seek out smaller more transparent local venues and shop around. Oh and by the way Cash4Gold adds insult to injury as they never pay for the diamonds and gemstones in the jewelry they scrap. Your local jeweler will pay much more than scrap for ready to sell rings, bracelets and watches customers bring us that are "ready for the retail re-sale market."
2009-09-17 17:49:05 by number juan
i'm going to send them a roll of tin foil and see what kind of check i get. i'll keep everyone posted ;)
2009-09-21 11:51:12 by punk
I mailed in three rinqs and received a check for $15.93. What a rip-off. I should have kept the rinqs for sentimental value. Just happy that I didn't send a necklace that I had.
2009-09-22 20:00:49 by ripped off
They are not only a bad company to deal with legitimately if you are trying to get cash for something you don't want, but they are a good place for thieves to unload their goods. I happen to be one of those unfortunate people who had my jewelry stolen and sent to cash4gold. Now I am fighting with the company to get my items back. Hopefully the local police and possibly the FBI can put a stop to this company and make them close down.
2009-09-24 10:02:01 by joe johnson
you just have to know what you are doing and this is a great company to recieve your money from. the other day i sent in a ring and wrote a letter saying that i was recieving money from the govt and had no other source of income. after they read that the gave me way more that i should have recieved for the ring that i found under one of those vibrating chairs that you pay for in the mall, if you ask me those are a REAL rip-off.
2009-09-24 10:02:52 by Cash4gold
HI i am a former user of cash 4 gold and it was a excellent investment if you ask me. So many people on here are lying about getting robbed. My husband is a manager there and he is a very honest man with a long dick tehe. He will give you a very good deal more then half the time he throws you a bonus just for using the company.USE CASH 4 GOLD THEY HAVE BEEN DECREASING IN PROFIT LATELY AND THEY NEEED SOME HELP SO HELP THEM! THANK YOU!
2009-09-30 04:08:01 by peter stone
i thought about sending a very expensive pieces of gold but will not after they scam you why would i sell my stuff that is worth thousands for 50 bucks if that what you get
2009-10-01 17:28:19 by Stephanie
I KNEW it was a scam. Thanks. Someone really needs to sue those guys! Or make a commercial that comes on RIGHT after their commercial, telling the world their scum bags. That would be sweet...Id laugh.
2009-10-01 17:37:11 by Elaine Dalglish
Thanks so much for that. I assume they are the same company as we have here in the UK. They are advertising heavily on TV here. Just as well I checked!!!!
2009-10-02 14:56:18 by never even thought about it
Cash4Gold, obviously you would say that. Your husband is a manager and if people figure out theyre being scammed, they arent going to use the company. Which means that your husband won't be making as much money, and you will have to get a job. And "he is a very honest man with a long dick tehe;" how is that pertinent to the conversation?
2009-10-03 22:33:03 by Heather
I'm considering selling my gold....Kinda curious as to how much CFG is actually paying (Not gonna use them though - thanx to this post!). Is there anyone who knows how much gold they sent in, grams or whatever) and what their check ended up being?

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