You’d have done pretty well to miss the growing number of websites and shops offering to buy up your old gold for cash, and it’s fair to say that either because of the nature of the offer or the way these companies advertise themselves, none of them appear particularly trustworthy.
On our post Sell Your Gold In The Post, Mary left this less than complimentary comment on Money4Gold :
Having sold odd bits of gold locally, I decided to try “Money 4 Goldâ€. 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.
We’re hoping that this is just a case of a postal delay causing the delay, although on their website, Money4Gold say, in their “12 reasons to trust them”, that your items are traceable at every step.
We’d be interested in hearing about any other stories of problems with these cash for gold websites – after all, trust is everything when you’re sending valuables to a little known company. Let us know your thoughts in the comments below.
UPDATE 10/11/2009: Following the large amount of extremely useful comments we’ve had on this post, we’ve opened up a forum thread on the new Money Watch community forum.
