Dollars for Gold General: Info & Help

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  #1  
Old 01-03-2010
fergiak fergiak is offline
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Default Topic: Dollars for Gold

Dollars for Gold

Has anyone used this? Do u think it is for real or a scam? I went online and requested a package and it came, all looks legit.. but.. my daughter thinks it is not for real.. so, any thoughts? Anyone sent anything and got money?
Thanks ahead
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  #2  
Old 01-03-2010
Tremc Tremc is offline
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Default Topic: Dollars for Gold

If you do your research, it's all a big scam...
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  #3  
Old 01-03-2010
Mommma Mommma is offline
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Default Topic: Dollars for Gold

I brought my old gold chains,rings, earrings etc to Brass n Things on 114 Prince William street last summer and the owner gives you a check right away after weighing and checking gold content in teh items.I brought in a small amount of old/ broken stuff hanging around(size of a maybe 3 sticks of gum) and came home with a check of about $300.This way you know you are dealing with a local honest dealer. The price of gold is higher now than when I went...let me know how you make out!
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  #4  
Old 01-03-2010
Adam-07 Adam-07 is offline
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Default Topic: Dollars for Gold

Here is a video review done by fox on 3 cash for gold websites. http://www.cashforgoldplatinum.com/dollars4gold.php
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  #5  
Old 01-04-2010
fergiak fergiak is offline
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Default Topic: Dollars for Gold

I have tried to do research Tremc... but am having no luck finding much, can u direct me to any sites that talk about it.. I just keep getting out back to the actual site.
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  #6  
Old 01-04-2010
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rhiley_08j rhiley_08j is offline
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Default Topic: Dollars for Gold

You do realize what all these dollars for gold companies are for? Gold reserves are being depleted, and so these companies are hoarding whatever they can get there hands on. If the world economy is to collapse, the only thing that will be worth money is material possession of precious minerals, stones, etc. Remember back in the Great Depression when it took a wheelbarrow full of money to buy a loaf of bread? You can't be too sure that this may not come about again. If it was me personally, I would hold on to whatever gold I had, you never know it might buy you a loaf of bread.

Something else that comes to mind with these dollars to gold outfits... is it just me or does this not seem like the perfect way for a thief to fence their wares?
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  #7  
Old 01-04-2010
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rhiley_08j rhiley_08j is offline
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Default Topic: Dollars for Gold

Quote:
Originally Posted by Adam-07 View Post
Here is a video review done by fox on 3 cash for gold websites. http://www.cashforgoldplatinum.com/dollars4gold.php

That site is set up by a dollars for gold company. Here would be a better link:

http://www.complaintsboard.com/?sear...ars%204%20gold
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  #8  
Old 01-04-2010
orange orange is offline
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Default Topic: Dollars for Gold

I think it's technically not a scam, in the sense that the businesses are legitimate and they tell you up front how the process works.

But it's definitely a rip-off (I guess basically a scam in that sense)... when I first saw those ads a couple of years ago, I was surprised

I don't think anyone should send-away gold items when you don't even know what they will pay you for it.

The video at the link Adam posted is pretty good. It shows that all the "cash for gold" companies care about is what the jewelry is worth if it's melted down. They don't factor-in the design value or historic value of it.

I think if someone wants to sell gold, it's better to go to a local jewerly business, like how Mommma describes.

Because then they can at least tell you what they would pay, and you can choose not to do it if it's not good enough. In the video above, the reporter sent $20 worth of gold and only got a cheque for $5.52 in one case. And they couldn't cancel it or anything afterward.

Last edited by orange; 01-04-2010 at 05:35 PM..
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  #9  
Old 01-05-2010
ksbeckaa ksbeckaa is offline
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Default Topic: Dollars for Gold

I really learned ALOT after reading this thread and typing Dollars for Gold Scam into google!
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  #10  
Old 01-06-2010
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trinity trinity is offline
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Default Topic: Dollars for Gold

I myself was wondering how you would know if your grandma's jewelry was actually gold or vintage costume jewelry? They could easily rip me off big time for example, because although I can tell a diamond from a cubic zirconia, cut, clarity, carats etc escape me.
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  #11  
Old 01-06-2010
fergiak fergiak is offline
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Default Topic: Dollars for Gold

Thanks guys, got my question answered.. appreciate it
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  #12  
Old 01-07-2010
orange orange is offline
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Lightbulb Topic: Dollars for Gold

Quote:
Originally Posted by ksbeckaa View Post
I really learned ALOT after reading this thread and typing Dollars for Gold Scam into google!
I know this is already resolved, but I was curious about what ksbeckaa said

And there's some interesting/funny stuff out there

This is good:
http://www.cockeyed.com/citizen/goldkit/cheat.shtml

Someone took gold jewelry and asked the pawn shop what they would pay for it... the pawn shop said $198.

Then they tried sending it to one of the "Cash 4 Gold" / "Dollars for Gold" companies. The company sent a cheque for only $60! Apparently, if you're not satisfied, you can ask for your gold to be sent back (although elsewhere on the web, people say there can be problems getting it back). So when the guy asked for it back, and then the company upped their offer to $178.

So basically, just like that, they tripled what they were willing to pay (and it still wasn't as good as a pawnshop's offer), which shows how badly they rip people off.

It seems those companies generally only offer 10% to 20% of what the value of the gold is when melted down. So even when they triple it, they still make a huge profit.

This is also interesting:
http://consumerist.com/2009/02/10-co...-employee.html

They're "10 confessions" of a former employee of one such company, basically saying it really is all a scam (for that company anyway... but it seems to be the biggest American one).

The most interesting parts:
"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."

(that's just one company, but still)

Also, this about how they get bonuses for minimizing the payout (funny part in blue):

"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."

It's also funny that this iSaintJohn thread is already on page 2 of the Google search results when you search for dollars for gold scam. And the 3rd result for Canadian sites

Last edited by orange; 01-07-2010 at 07:57 AM..
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  #13  
Old 01-07-2010
orange orange is offline
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Talking Topic: Dollars for Gold

Quote:
Originally Posted by trinity View Post
I myself was wondering how you would know if your grandma's jewelry was actually gold or vintage costume jewelry? They could easily rip me off big time for example, because although I can tell a diamond from a cubic zirconia, cut, clarity, carats etc escape me.
Yeah, check this out
http://www.cockeyed.com/citizen/goldkit/gold_kit.shtml

He spray painted various things and sent them in

"I grabbed some doo-dads out of the junk drawer and some gold spray-paint out of the garage.

Soon I had a gold bottle cap, a gold stem from a bunch of grapes, a gold pop-top, a gold zip-tie, a gold 'S' hook, a gold nut and the elusive gold nickel. "

And they sent him back a cheque for $1.01
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  #14  
Old 01-07-2010
ksbeckaa ksbeckaa is offline
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Default Topic: Dollars for Gold

Good post Orange. Hopefully everyone will take note that this is maybe not a good idea.

I had wondered about it myself in the past.
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  #15  
Old 01-09-2010
nadia.m. nadia.m. is offline
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Default Topic: Dollars for Gold

I went to the coin cabinet on King St. today with some old gold stuff and they paid very well - a lot more than I expected. You might want to try there.
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