By Staff

Nothing seems easier than a good “get cash quick” scheme, but when it comes to trading in your gold jewelry are the cash-for-gold companies really paying what you deserve? Perhaps not. Most are familiar with the Cash4Gold television ads… They even aired an ad during the Super Bowl starring Ed McMahon and MC Hammer. Sure these ads are very appealing, especially in these uneasy economic times, but it can be very easy to get ripped off if you don’t know what you’re doing. Choosing a reputable company to assess the value is key when it comes to getting money from your jewelry.

According to this former Cash4Gold employee, the behind-the-scenes process of the well-known Cash4Gold appears to have some questionable practices:

• The pouch that is sent to you is only insured up to $100, so if you send it in with jewelry that is worth more than $100 and the pouch becomes lost, you’re screwed!
• Your check is usually signed within 24 hours of testing your jewelry, however the check is not sent out for another 3-4 days. Why is this a problem? The “100% satisfaction guarantee or your jewelry returned” is only valid within 10 days from when the check is dated, making it easy for the company to get away with more money than it should. 
• Cash4Gold purposely issues insufficient checks just to have customers call back and complain, and that is if they are even smart enough to figure out that they have been jerked around. 

There are many other options for trading your gold in for cash, such as jewelry stores that may offer more accurate appraisals. Holding onto any items you feel are valuable is another good alternative, since it’s usually the case that stuff like that only increases in value as time goes on. But if you’re dead set on turning items in for cash, definitely make sure to do some research first so that you’ll be able to decide what price is acceptable.