What a Deal

I've been watching tons of t.v. lately and never before have I paid so much attention to commercials and the promises they make - some of which seem too good to be true. A classic case in point is Cash4Gold.com's promise to exchange COLD HARD CASH for my unwanted gold (as if I was a post A-team Mr. T with tons of chains collecting dust).

My first impression a few weeks ago was that sending gold by mail wasn't a good idea. I've always thought sending cash was bad, let alone a bulging white envelope labeled "Cash 4 Gold." They have increased in the amount of air time lately which means it must be working. So I decided to stop mocking the money pit to review the company, and its promises of riches



*COLD HARD CASH - Nope. You receive a mailed check or direct deposit.
*Gold highest value in decades - Yes. While Yahoo finance only let me see the trend since 2002, it doesn't mean selling now would maximize its value.
*Top dollar - Nope. I checked the website to understand the exchange rate for weight and karats and found an interesting disclaimer from the CEO regarding alternative options for those seeking to sell gold:

"Pawnshop: they can offer the option of buying it for resale. This may in certain cases provide the consumer with a higher value for your material.
Local Jeweler: They can buy for resale or trade in for a new item. In certain cases, this may provide consumers with a higher value for the material.
Cash4Gold: Cash4Gold, America's #1 Gold Buyer, buys all gold and other precious metals strictly for its melt value (not resale). This offers a completely anonymous transaction along with a 100% guarantee if not satisfied within 10 days of your
posted invoice."

[Maybe instead of saying "Top Dollar" it should revise its claim to appeal to those who prefer an anonymous transaction for it's melt value rather than the higher value of resale dealers.]

*Safe, Reliable, Insured: Technically, yes. While visiting the company website I read their terms and conditions (something I would not have done several months ago. Lame, I know) which limits their liability to the LEAST of these three sums:
1. The value they appraise the materials to be
2. 1/3 of previously professionally appraised value
3. $100

Which means even if you send the handful of gold bracelets like those shown on the commercial, you are insured up to a maximum of $100. If you do receive the check for your gold, you have 10 days from the date printed on the check to receive a refund. If you opted for the next day COLD HARD CASH option of direct deposit, you forfeit the right to dissatisfied with the amount you received. "This time limitation cannot be waived for any reason." Thanks for playing.

So, the upshot is since you have no idea what value they place on your to be melted gold, and anonymous service makes it hard to follow-up with complaints, it's doubtful the business will deliver the COLD HARD CASH you might expect.

This won't stop me from ... talking ... like ... the ... lady at the 18 second mark, or inserting other random things I could sell from previous marriages like the lady who was obviously reading the TelePrompter at the 35 second mark.