Cash 4 Gold? Pro or Con? Product Review

With what seems every financial market crashing all round us...the fact that the price of metals continue to skyrocket, it makes anyone of us want to walk....er-run down to the nearest creek and start panning for gold.

With gold prices soaring, it made me a bit curious about that commercial on tv, you know the one with the little old lady with the whiney voice giving her testimony that her payout from cash for gold will pay for her hoveround. Well, something like that. Those commercials seem to run together. My son Bama calls it the redneck retirement plan. LOL. Anyway, it got me to thinking....is it a hoax? I am not one to wear my gold jewelry. I have had several pieces in my jewelry box, which had been sitting in there for years, not making me any money. And quite honestly, I cannot ever see myself wearing them ever again. They were nice chains, but to gaudy (big & wide) for my evolved taste. I had some rings (one gold with a diamond, which C4G also said that they accepted) and some bracelets. Things I could really care less about if I "lost it"

So....I had nothing to loose. I got online and requested the free, insured Refiner’s Return Kit. I placed my unwanted gold jewelry in the secured envelope. Then I dropped the pre-paid insured envelope at a convenient mail box and mailed it off to be weighed. I thought that I would hear something about my package, but I did not. A week later I called to verify receipt. The company said that they had received my shipment and were mailing a check out on that very day. They would not disclose to me on the telephone the amount of my payment, "for security purposes".

Then, eight days later, still no check. I telephoned the company again to track my payment. They informed me that it had been mailed and should arrive "within the next two days". I realized however that the terms of Cash 4 Gold states

"If you change your mind about selling your material or are dissatisfied with the amount of the payment you received, you must notify us immediately. If we do not hear from you by telephone or fax within TEN (10) DAYS of the date on the check we mailed to you, your material will be processed by our refiner. You must return the check before we will return your material. This time limitation cannot be waived for any reason. "

I explained this to the telephone operator. For after 10 days I would have but no choice to accept it on those terms. That I found that to be fishy. Had I not called I would not have any choice but to accept payment. I thought convenient to not be in receipt of the check within 10 days. To me it was questionable. She said that she did make a note and would pull my items so that it would not be melted down. She asked me to let them know when I received the check. On day twelve I finally did receive a check. It was for $104.25 for my mounce of gold that I had sent in. Ten days ago, I would have been happy with that. Because, as I stated....it was just literally sitting in my jewelry box never to be worn again. However, I began to watch the price of gold according to trading prices per ounce. At the time, gold was trading for $836.00 per ounce! Yes! That being said, I know that my gold varied in karats....so I am certain mine was not worth 836.00 but certainly more than $104.00. I also know that the company acts as a middle man and expects their cut.

I immediately emailed the company and let them know of my dissatisfaction with the check they sent to me. I got an immediate email that stated:

"Leigh,
I’m sorry to hear that you are not satisfied with the amount of your check. I do see that you have already spoken with a customer service representative and she has pulled your items for hold. Do you mind me asking how much you were expecting? I may be able to work with you on your invoice.
Thank You,
Samantha"

I replied with my thoughts according to the NY trading prices. And was given this response,

"Leigh,
I have looked at your invoice and while I see your gold quantity is at the lower end of our graduated payment scale if I move your items into the next higher pay scale I would be able to increase your pay by $206.39 with the check you have that would bring your total to $310.64.

Thanks, Samantha"

I still felt that I could get more for my gold, but upon further questioning, I was told that they already had sent the additional check and could not issue any more checks. I was a bit miffed, because again, I think I could have gotten a fairer price somewhere else.

So, my personal feelings on Cash 4 Gold, didn't change. I am still a sceptic. I did, however empty out my jewelry box and dump some pieces that I would never have worn again.

I would advise doing some research on other companies, this one being one of the ones I found:

https://www.goldfellow.com/index.aspx

I would also advice keeping a check on gold trading prices. Educate yourself so when you challenge your check you have a realistic price in mind.

I think I had better luck with Cash4 Gold than panning in the creek near my home. If you decide to try it out for yourself, go into it knowing it is not a get rich quick promise.

And finally, Always question the result of payment. I think that they always bottom dollar the price that give back. Top dollar them back and perhaps a price will at least be met half way.

For anyone banking on the redneck retirement plan....think again. It might buy you a trip to the casino only to lose your little "goldmine". It'd be best to visit a financial planner for some stable and sound advice.

Good Luck!