Entries by mikel

Fraud

I have a friend that saw an ad on tv for cash for gold she contacted them and they send her an envelope with in 2 days. She send it back the next day with $300.00 worth of gold. It has now been 2 months they say that they have not yet recieved it and that she should just keep calling back. she is now terrified that she will be out her jewerly, and the money she desperatley needed to feed her kids. If anyone is thinking about using these scams please don’t. p.s. dateline should do a show on it unless they already have and i and her missed it.… read more ->

Complaint – Cashforyourgold.co.uk

I am a small trader, on 15/09/09 the gold I had, using the value quoted on cashforyo0urgold’s website I was looking to receive £5106. I took it to their office, I was greeted by a friendly chap, they try to act like your best friend, offering cigarettes etc while I was waiting… After a short while, the gold had been evaluated, and I was quoted £4630… I was shocked and asked for my gold back, the chap says he will speak to his boss and see if they can do anything… he came back some 10 minutes later and increased the valuation to £4800, I was still out of pocket and demanded my money back… the chap said no worries, … read more ->

Cash for Gold Scam – Are Gold Parties Really Just a Cash for Gold Scam?


By Frank K.

Cash for Gold Scam – Are Gold Parties Really Just a Cash for Gold Scam?

Gold selling parties are getting more popular every day. Are these parties really a good place to sell your gold or are they cash for gold scams that you should definitely avoid?
 A cash for gold scam happens when a consumer is taken for a ride by a non-legitimate or fraudulent gold buying business. Even though the majority of businesses are reputable, there are those that can be the source of a cash for gold scam.

Cash For Gold Scam



A scam can come in many different forms. The most obvious would be from an overnight business that has set up shop … read more ->

Cash for Gold Scam – The Best Way to Avoid the Cash for Gold Scam


Some businesses that buy gold online will claim that they never received the gold that you sent to them. Gold buyers that receive large amounts of complaints about this are just a cash for gold scam.

Be careful of companies that do not have a physical address. A cash for gold scam can be one that is handled online without any physical addresses for the business that is handling it. In many cases a phone number may not even be available. You should go with your gut instinct, if the company seems shady it probably is. There are plenty of reputable groups that pay good rates for you gold.

The Best Place To Sell Gold?



Another sign that a gold … read more ->

BEWARE!!

HI,
I don’t know if it has to be Cash4Gold but i have a story regarding a company called GRANTS of CORNWALL, when I went on their web page it says a free quotation of your unwanted gold with a space to put what gold you want to sell then a space for a phone number for them to contact you so i entered all that was needed and waited for phone call which arrived promptly. I was asked if I had weighed my gold I said that i had on my kitchen scales and it weighed in at 2-2.5 ozs she said she would do the conversion to gold weight and the total of cash i would get was … read more ->

Too Good to Be True?

Kathy McGovern of Sugar Grove, Illinois stated, “I sent my jewelry into Cash4Gold including a 14 Karat Gold Ring with a quarter diamond, a 14 Karat Gold Chain and Cross, a 14 Karat Bracelet. I weighed my before I sent it in and it came to 1.8 ozs. I received $98 dollars for them. By the time I received the check t was too late to get my jewelry back. It’s really a shame in these economic times that company would bluntly rip people off.” Her entire testimonial can be read here.

After some more digging I came across someone claiming to be an ex-employee of Cash4Gold that shared how the entire process allegedly works at XComplaints.com. He states that … read more ->

Beware of Gold Scams

When the U.S. dollar falls in value, the price of gold and silver can usually be expected to rise. And with the dollar in free-fall as it is at the time of this writing, the trend is proceeding true to form, with gold just recently blowing past $800 an ounce. But when the gold and silver markets turn bullish and enthusiasm among investors accordingly rises, watch out! Amid every new “gold rush,” you can also expect a fresh assortment of corresponding scams to appear. The last major bull market for gold and silver, the 1970’s, saw scam artists abound; and this time around – especially with the proliferation of the Internet – will likely be more of the same. And … read more ->

Gold hits 6-week low hit by firm dollar, ETF eases

Gold prices fell to a six-week low on Tuesday, with firmness in the dollar sapping demand as investors awaited the Federal Reserve’s two-day policy meeting starting later in the day and its economic outlook.

The dollar was firmer against the euro and most other major currencies except the yen after a broad sell-off in U.S. stocks on Monday raised doubts about the economic recovery, with gloomy World Bank forecasts adding to weak market sentiment.

Gold has often benefited from a similar sense of investor risk aversion, but traders said the dollar’s strength was instead weighing on bullion at the moment.

A stronger dollar also makes dollar-denominated assets appear more expensive.

“Right now, market players are closely watching the dollar given … read more ->

How cash for gold scam works

In the time of crisis a lot of people try to cash their possessions in order to pay their bills. There are companies out there who try to take advantage of the situation and scam people off their money. Cashing your jewelry may lead you to a lot of trouble. This is how it works:

      The company receives your refiner’s pack (jewelry) for appraisal.
      They appraise it by hand (no specialized equipment is used, no experts involved)
      They send you a check with a 100% Satisfaction Guarantee.

The catch is that the check is mailed to you very late and you can get your jewelry back or refund only if you contact the company within 10 days from when your … read more ->

Gold miners not finding new deposits to meet future needs – study

TORONTO (miningweekly.com) – Although the world’s biggest gold producers managed to replace almost twice the reserves they lost due to production between 1999 and 2008, the rate at which the industry as a whole is discovering new deposits will not be sufficient to meet its needs over the long term, Canada’s Metals Economics Group (MEG) said on Tuesday.

The Halifax, Nova Scotia-based research company has published a study titled ‘Strategies for Gold Reserves Replacement’, in which it calculates that the average cost of replacing reserves – for companies that produced 450 000 oz of gold or more in 2008 – was $83/oz during the ten-year period, taking into account both acquisitions and exploration spending.

Simultaneously, this group also increased its … read more ->