Cash4Gold Feedback Thread

singleandmalt

Hi there,

I do voluntary work for the cab and recently we have received a number of phone calls from clients who are upset about these firms as some people have sent their gold and have found that they have been and are being paid just the scrap value for their gold.
also, some clients have sent in their family gold and been told they havent received the goods the other end.
in general the most common complaint is the very low value they are receving for thier gold isnt what it appears to be on the widely advertised tv adverts and the firms are taking peoples gold to scrap dealers and getting lower than scrap value and hence very little money. We have now started referring clients to consumer direct..
:j

welshgirlmel

These companies ARE a rip off, if you go to your local jeweller they can give you an offer there and then. If you don`t like it you don`t have to accept it, but no worries about sending off gold to companies that have just sprung up. They pay a fair price, and most are members of bodies such as the national association of goldsmiths or other professional bodies.

Most independent jewellers are family businesses too so their reputation is on the line. I know as as work in the industry. We have had people sending blank cheques off to these companies, specifically this one, so they have your bank details. Would you give your bank details to a stranger?

Local jewellers can often give you more if you put it down as part-ex too, so dont be afraid to ask

diane1706

I sent a gold ingot pendant to be sold.I was offered £183.12 I declined (all done by e mail) A week later i got a phone call asking why I had declined the offer,I said it was too low.I was then offered £280,I said make it £300 which they did. This was late Wednesday and I received a cheque Friday morning (which was banked Friday pm) I was happy with £300 but worry about if I hadn't known the approximate value!!!!

teach67_2

i sent off over £200 worth of gold in September. They offered me £69.00 for it so i asked for my jewellry back after waiting a few weeks i phoned them and they said it had been sent out on the 5th October and to wait 10-15 days, when i still did not get the gold back i phoned again when they told me they had been trying to phone me to offer £150. i said no again and told them i had been offered over £200 they then phoned me the next day with an offer of £259. If i hadnt know how much the gold was worth then i might have walked away with the first offer!! i would not recommend them to friends or family.

[Deleted User]

I think this news report sums up Cash4Gold quite well...

http://uk.video.yahoo.com/watch/5340928/14077699

after all, would you trust a company set up by this man?...



(No, not MC Hammer - I mean the white guy)

sandraboffin

I sent my gold off to gold4you and received a cheque for £94 i told them in no uncertain terms what i thought and told them to return my gold which they did after about a week. I then took my gold to a local jeweler who gave me £370 so do not go with gold4you.

Rince

I can't find a thread for the one I used which is cashforyourgold. They don't advertise on the TV. A friend used them and had great service so I used them. If you go on their website they are the only 1 i know of that tell you up front what you will get for your gold per gram, it's advertised on their website. Where as the other companies only tell you once they've got your gold ! So you know before you send it what you're going to get (obviously they have to check the gold when they get it). I weighed mine so new what I was approx going to get £740. They phone the next day to offer me an amount which was £710. I agreed to this and the money was in my bank account within 2 hours.

Wish i'd waited now as i've just checked their website and it's gone up to £8 per gram !!!

smiggs59

There are lots of stories here about poor rates being offered by many of the companies. But there is another slightly hidden problem. If you are sending off gold items that only have a scrap value, then the only thing to worry about is the rate per gram the companies will pay, if you can tell before you sent them in the post.

But many gold items of jewellery etc have a value above and beyond the value of the metal they contain, as any keen viewer of daytime antiques TV will know. They may have value as desirable objects which others might want to buy second hand. So what happens if you send off a bracelet which has a market value to a secondhand jewellery dealer or at a specialist auction above the scrap value? The worry must be that a gold smelting company such as these might not tell you that it is worth selling rather than melting down; so you receive the scrap value (at whatever rate they use) but they are then free to sell the item on the open market for more.

As always, it is worth getting more than one opinion when selling things of possible value. Check with a local jewellers, as others have said, or perhaps an auction house. Not everything will be currently in fashion or of much greater value than scrap. But then even selling as scrap, if you were to sell at an auction house at least the bidding would be an open competition between those at the sale. Which should mean you are guaranteed something like true market value. Commission charges would apply of course.

LizzyTravis

Sent gold necklace and gold bracelet in July to Cash4MyGold. They rang and offered me £213 for both. (They originally cost £179 for the necklace and £100 for the bracelet). I said it was not enough and asked for them to be returned to me. After one week and no gold I rang again. They said they would check and ring me back, a few days later I rang again, they took my details and promised to ring. After a few more days I rang again, was told there were postal strikes in London and post was delayed. Two weeks later I rang again, was told they would check. One week later I rang again and was told the Manager would call me. She did and apologised and said she had been on holiday for two weeks. She told me the gold had been sent back to me but along with 4 other parcels to other customers the gold had disappeared. She told me she thought it had been stolen because of their name on the envelope and the P.O. had advised them to now send in plain envelopes. She went on to say that as a gesture of good will she would offer me £230.00 plus £10.00 for my phone calls. The alternative was to wait for the P.O. to settle their insurance claim, which she told me would be less money. I was really surprised when she said she could send me cash the immediately. I told her that as my gold had gone missing I did not want cash sent to me I wanted a cheque. I received the cheque the next day. I was really disappointed with the way I was treated and would never use any of these Companies again.:mad::mad:

jjlancs

Sent my 18ct gold 18inch chain and two broken rings and received a cheque for £36, I knew it was worth alot more as i had the necklace valued 12 months before gold prices had risen, they charge £15 to return your gold if not satisfied, i rang them straight away and they upped the offer to £100 and i accepted, but i still think it was worth more, how many other people are offered a low amount first and only if they complain will they get a reasonable amount.. Would never use again.