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    Has anyone used a cash for gold site.. with the increase in Gold prices,, there has been an emergence of online pawn shops offering cash for old jewlery.. A good thing or preying on the economic situation of people who cant get loans ??
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    They will rip you off.
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    Think about it, they are buying gold off you. They wont be offering full value or they wouldnt be making any money!
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    I read somewhere that these sites pay on average 6% of the retail value for stuff. Even when you consider that second-hand jewellery is worth about 1/3 as much, it's still a complete rip-off.
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    Very exploitative. If you have any gold that you think is actually worth something, go to a professional jeweller.
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    Take it to a few pawn brokers, get a quote for it then it stick it on ebay with that quote as the reserve price. Cash4Gold et cetera are ripoffs.
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    (Original post by lookitsdanhunt)
    Think about it, they are buying gold off you. They wont be offering full value or they wouldnt be making any money!

    No, but a high street jewler might give you $800 an ounce and sell it on at $875, but Cash My Gold and the rest will offer much much less than that, sometimes down to about $150-300 an ounce.
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    They are currently under investigation by Trading Standards due to purchasing gold at around 6% of retail price.

    Complete scam, taking advantage of idoits in the current climate
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    (Original post by NW86)
    They are currently under investigation by Trading Standards due to purchasing gold at around 6% of retail price.

    Complete scam, taking advantage of idoits in the current climate
    6%! I knew they were a rip off but bloody hell!
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    you have to be a moron sending gold through the post, and on top of that they rip you off.

    the adverts are hilarious though, half of them are dubbed. cash my gold and be ripped the f*** off.

    you see a stupid idiot saying "i never knew my gold was worth that much" stupid moterf***s like them deserved to be ripped off.
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    Evil.
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    (Original post by Riderz)
    No, but a high street jewler might give you $800 an ounce and sell it on at $875, but Cash My Gold and the rest will offer much much less than that, sometimes down to about $150-300 an ounce.
    Sorry this is what I was implying haha. I meant that you are better off getting it valued somewhere else.

    All these companies do is offer fast cash for people who need it.

    Its like taking your stuff to cash generator as opposed to selling on ebay.
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    (Original post by lookitsdanhunt)
    Think about it, they are buying gold off you. They wont be offering full value or they wouldnt be making any money!
    Well, of course. No-one will every buy something they intend to sell-on for 'full value' or anything approaching it. Unless you can find a direct customer who intends to use the product himself, which most people won't, then this 'value' will continue to be elusive.

    (Original post by Potally_Tissed)
    I read somewhere that these sites pay on average 6% of the retail value for stuff. Even when you consider that second-hand jewellery is worth about 1/3 as much, it's still a complete rip-off.
    Gold goes to them to be melted down, does it? Broken jewellery will be near-worthless as jewellery, it might be worth something as 'scrap'. Still, they won't distinguish between broken gold items and something that can be sold on as jewellery.

    Shop around for the best price is, of course, the general rule that should be followed in all circumstances, but to pick on these companies in particular seems a bit silly.

    (Original post by Numberone-outkast)
    you have to be a moron sending gold through the post
    Er, it's insured.
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    They talked about this on the one show. They sent off some gold to 3 companies and they got 3 valuations, which they rejected and then all the companies came back with higher offers, some where even 3/4 times the original offer ! shows you that they are all rip offs.
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    (Original post by L i b)
    Well, of course. No-one will every buy something they intend to sell-on for 'full value' or anything approaching it. Unless you can find a direct customer who intends to use the product himself, which most people won't, then this 'value' will continue to be elusive.
    Sorry I didnt make myself clear in the first place. I meant they won't be offering the value that you might be offered elsewhere. They exist merely to give hard up families a quick cash fix.
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    If you don't wear the gold then you might aswell sell it. As long as you get a competitive price then why not.
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    Depends whether you want your gold or the money they will give you more. If it's the latter then they are good enit =D

    <3
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    I've heard that they give you the value of the gold after it's been melted down, thus not taking into account any workmanship that's gone into the jewellery, which may account for it falling so short of the retail price? If by retail price you mean the price at which the jewellery items would sell...
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    (Original post by sweeter than a cherry pie)
    I've heard that they give you the value of the gold after it's been melted down
    How would that work? Where's their operating costs and profit coming from?
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    Its a massive rip off. Dont accept less than £50 per gram.
 
 
 
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