# Cash for Gold Comercials

#### HarveyH42

Joined Jul 22, 2007
425
Noticed there has been an increasing number of companies advertising on TV, where you mail in gold jewelery and such, and they mail out a check. Many state that gold is at its highest value, so don't understand why a successful business would buy, when prices are high. I don't have any significant quantity of gold, nor would I trust it to the USPS, or strangers on TV. Figure its a simple way for burglars and robbers to unload their loot.

Been think if maybe this is some sort of economic recovery scheme, since its probably creating a demand for gold, which would also increase the value of some country's currency, probably not ours though. Don't really understand the significance of hoarding gold, just a shiny metal to me.

#### beenthere

Joined Apr 20, 2004
15,808
The price is way up, though. Perhaps as far as $1000/oz. Those are Troy ounces, though - 12 to the pound. But it's enough that there is a minor gold rush back in California, with unemployed people panning for gold in a couple of rivers. #### Wendy Joined Mar 24, 2008 21,848 That, and bet money they aren't paying full price. They operate at percentages, so even if the percentage is the same, the spread is wider than usual. #### Ratch Joined Mar 20, 2007 1,068 beenthere, Those are Troy ounces, though - 12 to the pound. Yes, but don't forget to emphasize that a Troy pound is 0.82 of what a Avoirdupois pound is. A Troy ounce is 480 grains and a Avoirdupois ounce is 437.5 grains. The price the gold skimmers give is the "melt price", which can be quite a bit lower than what fashioned jewelry might fetch. Jewelry is usually not pure gold. And can you trust the skinners not to cheat? Ratch #### wr8y Joined Sep 16, 2008 232 Noticed there has been an increasing number of companies advertising on TV, where you mail in gold jewelery and such, and they mail out a check. Many state that gold is at its highest value, so don't understand why a successful business would buy, when prices are high. Easy: They ain't paying you what it's worth! THEY ARE CROOKS! I TRIED to tell a friend to stay away from them, but she wouldn't listen. Sure I didn't KNOW they were crooks at the time, but it sounded "dirty" to me - like it does to you. This spring, she sent in some jewelry that the local jeweler offered her something like$175 or so for.

She thought "those guys on TV" would do better. Sent the stuff to them, got a check in 10 days or two weeks.
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--Rich

#### jpanhalt

Joined Jan 18, 2008
7,894

John

#### Wendy

Joined Mar 24, 2008
21,848
The real problem is if you send them your gold you've lost control. Even if you document it to the moon it still becomes your word vs. thiers, and after it is all said and done they'll return your package after an extreme amount of hassle. How many people will follow up? This is where the money is.

With a local jeweler you are dealing with someone local, and have a reputation to protect.

#### Dave

Joined Nov 17, 2003
6,960
Oddly enough, I just found a Cash4Gold spam in my email. They do get around.
Ha! No surprise at all. If there's money to be made, e-mail spammers with get in there, pronto!

Dave

#### Dave

Joined Nov 17, 2003
6,960
With a local jeweler you are dealing with someone local, and have a reputation to protect.
Yeah, I agree. It is more the point that until recently they weren't offering these "services". I guess where there is money to be made...

Dave