Gold Investing - Cash4Gold Lawsuit

I just finished viewing a video about the class-action lawsuit against Cash4Gold. Whether this lawsuit is successful or not, I think it is good news to bring more attention to the firms that advertise "send us your gold". There have evidently been too many people getting ripped off by some of these firms. Whether Cash4Gold was one, I can only relate my experience.

On my web site, I dedicated a page to my experience selling one piece of scrap gold as a test of how one of these firms works. That firm was Cash4Gold. You can read about it at Sell Scrap Gold

To recap my experience, it took them 12 days and an E-mail from me before they responded. Then I received a check for approximately 14.4% of what the piece (a 10k gold ring) was worth at the time. I said NO. My second E-mail asked for an explanation of their "logic" at which time they offered me 32% of the piece's worth. I said NO. The ring was returned to me 44 days after I had sent it in.

I had heard that Cash4Gold had improved their operation after my experience. Evidently not enough for some customers. Seller beware!