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    (Original post by thetroll)
    How would that work? Where's their operating costs and profit coming from?
    Because the customer gets a tiny fraction of the amount their jewellery's worth and the company keeps the jewellery and profit because it's worth more than they gave out, I would think.
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    Cash for Gold is basically just an enormous rip off.

    It's also EXTREMELY annoying.
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    I took in around 25k worth of gems as a bit of an experiment, got offered £1900, by a very rude woman who informed me 'this was a generous offer for somebody who needs the money' and expected me to take it.
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    There's a reason that old guy in the advert prancing round his house looking for "gold" looks retarded. It's because only retarded people would be conned by Cash4Gold and similar companies into thinking they're actually getting their monies' worth when they send their gold to such people. Go see a professional jeweller.
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    I think the guy from Mock The Week got it perfectly in his rant about Cash4Gold, because its a good ideaa to send your gold in a clearly marked bag saying that its gold...
    Yeah, they'll rip you off, friend said that they give you about a quarter of the value, but apparently its 6% haha.
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    (Original post by samba)
    I took in around 25k worth of gems as a bit of an experiment, got offered £1900, by a very rude woman who informed me 'this was a generous offer for somebody who needs the money' and expected me to take it.
    Christ, that's shocking.
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    done something similar - no problems what so ever but the price might be second rate in comparison to a shop! It's insured via post anyway.
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    Bad, preying on the desperate and the ignorant. The proliferation of these sorts of companies (and their bloody adverts) recently is worrying, but I'm guessing this must be an ideal time for them.

    "We'll give you cash for your broken gold jewelry!"

    Really?!?! I thought the broken clasp rendered gold worthless! :eek4:


    On another note, surely an envelope marked "Gold" or something similar, which is insured up to £500, presents quite a few opportunities for people in dire straits to make money without actually trading in their jewelry. Or am I missing something?
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    they'll rip you off! many Jewellers do a Cash For Gold scheme, have a ring round your locals and see whose doing them and for the best price
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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?
    (Original post by sweeter than a cherry pie)
    Because the customer gets a tiny fraction of the amount their jewellery's worth and the company keeps the jewellery and profit because it's worth more than they gave out, I would think.
    You sound like you'd make a good customer for these clowns.
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    Dale Winton approves
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    (Original post by lookitsdanhunt)
    They exist merely to give hard up families a quick cash fix.
    No they exist to give a quick fix to people who are too ******* lazy to get off thier fat asses and walk round thier local town centre for a morning to get qoutes off a few jewellers.

    Considering doing it round local town will get you more money and the money the same day, these cash for gold sites are actually quite slow!!!!

    same with the mobile phone sites. You will get a better price in a town shop and quicker.


    If people are too lazy/too thick/too stupid/too badly organised to spend a couple hours in town then thats thier own fault for getting ripped off.

    Same with most the pawnbroking/ provident personal credit etc. its just easy ways of getting money for people who shouldnt be trusted with thier own finances.
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    (Original post by thetroll)
    How would that work? Where's their operating costs and profit coming from?

    You sound like you'd make a good customer for these clowns.
    I think you're completely missing what I'm saying.

    Hypothetical scenario based on Cash for Gold ripping me off:

    -I send gold worth £300 if sold in a second-hand jewellery shop.
    -Cash for Gold receive it, make a note of the fact that it would sell for £300 in a second-hand jewellery shop, then calculate that its melt-down value is £70.
    -Cash for Gold send me £70.
    -Cash for Gold have my jewellery which is worth £300. I do not have my jewellery but have a measely £70 in its place.
    -I have been ripped off.
    -Cash for Gold are bad.

    Any clearer for you?
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    I'm not fussed.
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    (Original post by sweeter than a cherry pie)
    I think you're completely missing what I'm saying.

    Hypothetical scenario based on Cash for Gold ripping me off:

    -I send gold worth £300 if sold in a second-hand jewellery shop.
    -Cash for Gold receive it, make a note of the fact that it would sell for £300 in a second-hand jewellery shop, then calculate that its melt-down value is £70.
    -Cash for Gold send me £70.
    -Cash for Gold have my jewellery which is worth £300. I do not have my jewellery but have a measely £70 in its place.
    -I have been ripped off.
    -Cash for Gold are bad.

    Any clearer for you?
    Ah, you mean you think crappy gold jewellery is worth significantly more than its gold content.

    That isn't what they're being criticised for, as I understand it - just the differential between the gold price in the open market and the price they use to calculate their initial offers.
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    (Original post by Andrew Perry)
    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 ??
    Cash for Gold is merely a desperate measure for those who in need for cash. They do not take the equivalent how much your gold cost and give you the full value in return, they assess and the cost of the work in analysising, processing, they make a profit from it. Its called making an earning.

    You sent your gold thereby you agreed to accept whatever money you get in return whereas if you go to a jewellery store, you can neogatiate how much your jewellery is worth? Every jewel owner has their own price to offer, you either take it or leave it.
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    Don't know how this scam got on TV.
 
 
 
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