Why are there so many cash for gold complaints?


Quick Answer

There are many complaints regarding online cash for gold companies as a result of low payouts, unreliable customer service and delayed delivery times. The company Cash4Gold is the most negatively reviewed online gold exchange business for all of these reasons, and it exemplifies the numerous risks of mail-in gold services.

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Full Answer

The many complaints regarding online services such as Cash4Gold serve as a warning for those using mail-in services to sell valuable items. With eight pages of complaints on ComplaintsBoard.com, Cash4Gold is notorious for its low payments, long wait times and unresponsive customer service. Several of the complaints advise future customers to read online reviews before trying similar cash for gold services, to avoid unscrupulous businesses.

The Cash For Gold Online Reviews website offers a similar critique in its comparison of six online cash for gold services. The site evaluated each company by sending a small amount of 14-karat gold and comparing the time it took to receive payment and the payout value of the gold in grams. Cash4Gold offered the lowest per-gram rate, and the payment took 53 days to arrive. After assessing Cash4Gold's uninformative website and poor reviews, TopConsumerReviews.com also ultimately suggests that readers use higher-rated services for their gold trade-in needs.

For those looking to sell their gold with lower risk, ABC News features an article on the top seven things sellers should know beforehand. The article recommends getting free value appraisals from local jewelers and emphasizes reading all of the fine print, especially when using online services.

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