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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
2009-10-16 10:16:12 by Laurent Guerey
I feel very bad for everyone who gets caught up in scams like this. Thieves such as those behind Cash4Gold and check cashing stores prey on the poor and disadvantaged exclusively by exploiting their worst fears and their situation.
More people, especially poor and middle class people, need to realize that the wealthy are more than happy to exploit and take advantage of their lack of power. The working class is the backbone of this nation and we are being taken advantage of; from the working poor to the middle class, there are more of us than the ultra-wealthy, yet we the disadvantaged allow ourselves to be ruled and dominated by the wealthy.
The working people and the poor people of this nation need to band together and work together so we can begin to make changes in our favor, including running those, like Cash4Gold, who feed off and exploit the poor out on a rail.
2009-10-21 09:45:02 by Ok
Well , There IS actually people stupid enough to go
do this , since we are in a recession .
Desperate people .
But as soon as i saw the ad on T.V I Laughed
so hard i almost choked .
It was PURE BS .
How could ANYBODY even think its real ?
Gosh , Gullable world These days ...
2009-11-03 14:41:12 by pennieblue
I'm am unfortunately like so many others a victim of this companys underhand business practices, i sent them in the the begining of oct this year about £500 pounds worth of gold and silver jewellery and they sent me a cheque for under £50.00 which i promptly sent back to them.

I have since contacted them several times to ask for my property back and thay keep given me excuses that it has been sent to ther packing department, have been trying for at least 3 weeks now to get the items returned.

Have been in contact with the Trading Standards office and they are going to investigate.

All i can do is hope that my things are returned, and like all you others out there spread the word.



2009-11-04 13:24:06 by deb warren
My bag is sitting right next to me full of gold . I wanted to see what all they accepted.then I ran across your board . Wow I must be living right. Thank you.
2009-11-10 12:11:44 by anonymous
My mom was going to send it off after watching a commercial on TV i wasn't convinced about it so i looked on this and warned her right away. Thanx 4 the info to confirm my suspicions.
2009-11-11 17:30:01 by anonymous
I have also thought about getting some of my old unworn jewellery made into something new. When I seen these adds they always manage to make them sound great. I think after reading this I will go be going to my local jewellers to see what they offer in exchange for a new peice of jewellery.
2009-11-18 02:41:47 by Shahzoda
I knew this was a scam the whole time! I don't even know who is stupid enough to actually send their gold here anyways.
2009-11-20 17:00:25 by i had my doubts....
.....But the serious need for some extra cash this holliday season got the best of me.
Should have listened to that gut feeling :(
This is a compleate joke and i simply can't believe these people are still in buisness!!!! There must be something we can do to shut them down!!! i just received "My Check" for 65 cents. got on the ball called them and supposeedly will receive my items back with the return of my check.....well see how that goes... unfortuanatelly i did not stumble across this site until like 3 days ago... all i have to say in this time of need Gold Scrappers BEWARE!!!! THIS REALLY IS THE ULTIMATE SCAM, AND TO CASH FOR GOLD I'M SURE YOU KNOW WHERE YOU CAN GO AND THEN SHOVE IT.
2009-11-26 08:10:03 by Dan MD.
I'm not interested in selling any jewelry, but I am a penny trader and decided to do some research on these types of companys since gold is at an all time high. My advice to anyone, regarding just about anything, is do your due diligence...i.e research. You could start with your local Better Business Bureau site...My rule-of-thumb...if they are not even listed on the BBB the the risk increases exponentially. Good luck...trust but verify.
2009-11-28 15:02:33 by dougnps
I think it's great that someone exposed these guys as possible fraud. We do have due process here. But rememberthat saying "if it sounds too good to be true". What is appalling to me is the name calling in here "stupid people" deserve to be ripped off. That's so unkind and judgemental. Where's your compassion? Like the line in "doubt": "No where you can get at it" but do you really want to come accross like the mean judgemental nun who was wrong anyway. Stop and think before you judge ppl. Times are tough for many folks and with bills to pay and mouths to feed ...don't get scammed because there are companies ou there who do give a "fair" amount I know I went to one the key work went. I went to one of the companies who come to town and have the weekend specials where they buy gold from you usually in a hotel setting. It's easy to get ripped off so I went to one who continues to do business almost evey weekend not some one night flight type company. I did get a good deal. Just be careful what you do with YOUR VALUABLES they can bring you the money you need but it's easy to fall prey when you're in need.
2009-11-30 07:54:15 by davies
thank goodness i read this, as gold 4 you were offering double gold price if u find it cheaper, i did, emailed them,they mailed me back thanked me for pointing this out, and said , they would double the price of whatever i sent them,, i am waiting for their envolope,
after reading this, i will go to my loacal gold shop,,
2009-12-03 12:47:31 by Mr Simon
While I understand that Cash For Gold is offering terrible rates for what people are sending in to them, they are definitely not stealing. It's not as if they are holding a gun to your head when you take your gold items, put them in a plastic bag, and mail them. You expect to get top dollar for your stuff? Ha! Cash For Gold is a business and they are in it to make a buck, not provide you with a fortune.

The delaying practices that they engage in are the only questionable things they do. Just because they offer you $3.00 for a necklace that is worth $3000.00 doesn't mean it's illegal. It just means that you're an idiot to sell it to them for that little.
2009-12-04 01:15:28 by Amy dorthy
I just received my check from them and i was very happy with the amount. All you have yo do is read the terms and conditions so you can educate yourself how the process is. this is my 3rd time sending my items to them and i have never had a problem, if you go on there website you can also get additional ins on your package that will insure 500 plus the 100.
2009-12-07 21:25:05 by DK
Thanks to this former employee. I just almost sent my envelope in. Decided to check if there were any complaints about this company. OMG!! so glad I did!
2009-12-10 21:10:05 by wolverine10
Oh CRAP! I just mailed my kit in this morning! I finally got the guts to turn in my wedding and engagment ring thats was white gold. I dont expect to get much but I seroiously hope they dont send me a check for $0.50
Why didnt I read you first!
:(
2009-12-24 10:24:39 by Scam4Gold
Paying less than 10% of gold's market value, Cash4gold is a legal scam. Fleecing old people and the uninformed population, as well as exploiting a loophole in the law because "cash 4 gold doesn't sell anything to customers, the customers chose to sell it to us" yeah more like rob you blind. I saw the advertisement on tv many times, and kept waiting for the price, you know, an actual NUMBER, at which cash4gold buys gold at. I never got the actual number. Currently, gold is at around 1100$ per oz. on the market. "Paying Big Bucks" only works on 10 year olds and retards. Cash4Gold = Scam4Gold
2009-12-28 15:02:33 by Michelle
OMG I just ordered the refiners pack and have been going through stuff to send to them. Not now after reading this alert. Thanks alot for the eye opener I thought it was too good to be true.
2010-02-28 23:35:11 by Teddy22
I agree that Cash4Gold.com is a scam, I cam across a very helpful website called www.top10cashforgold.com and that told me everything that i needed to know about every online gold company out there. If you are looking to sell your gold and you want to know the truth about the company please visit, www.top10cashforgold.com. I hope this website finds you well. I sure thought it was useful. This sites top gold buyer was www.Expressgoldcash.com. They payed me more than i even thought i was going to get. Thanks Expressgoldcash.com.

Teddy
Miami Florida
2010-03-10 22:47:51 by OMG
c'mon people were you born yesterday?
2010-05-16 16:19:41 by Golden Rules
Are you all idiots?

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