A couple of days ago we mentioned that it was now possible to buy and sell gold in your local shopping centre.
Bitterwallet has some news on another way to get rid of your unwanted or stolen gold, this time it’s a service fresh from America, which allows you to sell your gold in the post:
…consumers request a gold return package, which is then sent by freepost to Cash4Gold’s processing depot. The gold is photographed and verified, then tested for gold content and assigned a cash value… Reception has been mixed, with some Americans calling it ‘the redneck retirement plan’.
As we mentioned in our previous post, don’t expect to be offered lots for your old gold – the scrap value of gold is very often far less than the valuation you’ve probably got in mind, plus there will be fluctuations in the price of gold which will affect the amount you will make. In fact, with gold prices being at some of their highest for a while, it might be the right time to get rid of the unwanted / stolen* gold you may have.
(*Whilst we at Money Watch do not condone stealing, we suspect this could how the service is used if relevant checks aren’t put in place)
photo credit: BullionVault
I would strongly suggest checking out the Silver and Gold Exchange before selling gold or silver to ANYONE. I did a great deal of research, online and offline, and learned a lot about this business. I checked pawn shops, jewelers, “gold parties”, hotel “buying events as well as the online buyers, including the “as seen on tv” guys. I found that the Silver and Gold Exchange paid more than anyone else I could find. I liked the fact that they post the prices they pay per gram (beware of the places that quote in pennyweight/DWT) on a live price chart at http://SilverAndGoldExchange.com I also checked out their Better Business Bureau report and found they have never had a single complaint as opposed to HUNDREDS of complaints some other companies have! I recommend them 100%
Americans always come up with funny ideas.
You could make money out of your old jewelries at home. If you would sell your old jewelries, the value of this would be converted to cash but there is a conversion rate to know the reasonable price for your item.
Having sold odd bits of gold locally, I decided to try “Money 4 Gold”. I had my gold valued by a local dealer first (valuation £400), Money 4 Gold were advertising that they double all valuations. I sent my gold off on 18 September 2009, and received a cheque for £91. I refused this cheque and requested that my gold be returned. I have been waiting for my gold to be returned to me ever since. I have been telephoning this company constantly since I returned their cheque, trying to get my gold returned to me. On my last phone call to Money 4 Gold I was offered double their valuation! But I again declined, and they stated that my gold was being returned to me – I’m still waiting.
Why are these companies allowed to trade this way? They are effectively stealing from people, well they have stolen from me as they will not return my gold.
I have posted comments elesewhere on this site regarding money4gold. I too sent off jewelry (valued at over 300 pounds) only to receive a cheque of 21.50. I was disgusted and returned the cheque the same day (18/09/09) via recorded delivery which they received on the 21/09/09. To date I have not received my jewelry back. I have phoned almost every day but only get through to a answer phone, and no one returns my messages, I have also emailed them copious times – no reply received from them. I have now contacted trading standards as well as BBC Watchdog, my next course of action will have to be the media and through the courts if all else fails. This company has stolen my jewelry and should be held accountable for their scam. In fact the police should be involved here as this is blatant theft.
Money4 gold have a bad name in the trade, a word of advice is only use sites that advertise their price. We do and have a regular following of loyal customers. We dont charge smelt fees or admin charges, we also pay a price per gram of gold. We are also registered with compaines house. scrap-gold-buyers was the first gold buyer on the web and have always beleived in top customer service and a fair price for your gold.
I don’t want to call attention to our service. Yes we do host gold parties, yes we do have a very popular post your gold program. But why do people turn to selling their scrap gold in the first place? It’s usually either because they need extra cash, or they’re trying to raise money for a charity.
I’m interested in being contacted by anyone who is experiencing difficulties with Money4Gold.
Hi Stephanie
Have a look on this site under ‘Have Money4Gold stolen your gold’. You’ll see all the disgruntled victims who have been swindled by this con of a company.
these guys seem to be setting up a site that will be somewhere in between the high street and post a bag.
All the smart people are selling their gold to http://cats4gold.com – they pay 50% more cats for your gold!
haha, cats 4 gold. My cat’s worth his weight in gold so it wouldn’t be worth it :P James Bell is right, only use gold buyers that advertise the price they pay for your gold. Postgoldforcash.com does this on their site. They also return your gold free of charge if you’re not happy with their offer.
I really appreciate your post and you explain each and every point very well.Thanks for sharing this information.And I’ll love to read your next post too.
Regards
Mcx Tips
Dear Buyer,
I am Charles Atta from Obuasi community. Am a representative for the local gold minners here in Obuasi community, Ghana. We have capability of producing between 250-300 kilos of gold dust / bars monthly.
The product available below: Commodity Gold dust / Dore bars Available
QUANTITY: 500kg
ORIGIN : Ghana (Obuasi community)
QUALITY: 22+ carats
PURITY: 96.67%
Packaging: in metal boxes.
Terms and conditions: In as much as I intend to establish a cordial business relationship with you, Interested buyer will have to arrange and come down to Ghana for inspection on our products, take a random sample for test at the government geological survey department, having been satisfy with the assay report, buyer / seller will then sign (sales and purchase contract / agreement). or if the buyer is not ready to go through this we can make plans for the golds to be shipment to his/her destination on CIF, we only accept the following (SBLC MT760 and MT799 )also NOTE that we can also deliver our Gold to the PMMC or ASAP VASA for assay.
I shall be grateful to furnish you with any further information that you may require after hearing from you and shall consider it a privilege entering long-lasting relationship between both parties.
Below are my contact information.
Name: Charles Atta
Phone Number: +233-549502452 or +233549502458
BlackBerry ping; 32efa62e
Email: goldminefestival@gmail.com
We are waiting your purchase interest and quick responses.
Best Regards,
Charles Atta.