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 there is no “state of the art device” like the one mentioned on the Cash4Gold website, instead all jewelry is inspected and appraised by hand. He also points out that the twelve day return offered on the Cash4Gold website is allegedly a scam designed to trick the average consumer into a false sense of security. He states that although your check is dated for when your items were inspected, the checks themselves are not generally mailed out for several more days. It can take up to ten days for the check to reach your mailbox, and by the time you try to recover your jewelry it is already far too late since you have to mail the check back and have it in their hands by the 12th day. Even worse, the writer alleges that if you decide to accept the option to receive cash deposited into your bank account within 24 hours you automatically waive your rights to petition the process and recover your gold. Also pointed out is that the “insured envelopes” you send off your jewelry in is only protected for up to $100.00 and they do end up lost quite often.
After reading these and countless other testimonials across the internet, I decided not to tempt fate and send off my class ring after all. While it seems that you actually do receive a check for your gold it will be for a disappointing amount and you will have to act very quickly if you ever want to see your jewelry again. Like Cash4Gold themselves point out, you’re better off going to a pawn shop and saving al the frustration involved with the process.