Cash 4 Gold-A Scam?

mrearlygold

Anyone see this?

Fool’s Gold

by JP Bender

“A fool and his money are soon parted.” It’s a proverb that goes back at least to the 16th century.
The modern version is, “a fool and his gold are soon parted.” That appears to be the business model for a company called Cash4Gold.
Cash4Gold is an LLC (Limited Liability Company, which is something like a cross between a corporation and a limited partnership). It’s based in Pompano Beach, at 1701 Blount Road.
As a rule, corporations and LLCs do not make public who their owners are, so, as is true with most LLCs, its background and history is a bit blurry. It was created in April 2007 as Cash4Gold, LLC. Last October it changed its name to Green Bullion Financial Services, LLC, and registered Cash4Gold as a fictitious name.
A slick advertising campaign
Up to that point, few people had heard of the company. But then things changed. Someone decided to wage a slick ad campaign for the company on late night TV, and on the internet. The now financially challenged Ed McMahon, and Stanley Kirk Burrell (whom you probably know better as MC Hammer), were hired as celebrity promoters. A company called Albar Precious Metal Refining, Inc., an Illinois corporation, bought a very expensive ad slot with the Super Bowl. The ad was on behalf of Cash4Gold.
Not many people had heard of that name before the Super Bowl, but that ad, which was telecast around the world, has put Cash4Gold on the map. Now that company is on a lot of radars, and a lot of people have flocked to the local post office to mail them their gold.
CASH4GOLD CONTINUED

blu62vette

I was reading a blog of complaints about them the other day, they have some real tricks up there sleeve. Pretty shady on the 10 day check contact rule.....

ClosedLoop

as i was reading this the commercial poped up on my tv.

nicetoning42107

I've been seeing their commercial on tv for years. Their current claim that Gold is the highest in decades is a lie.

Geoman

There was some "investigative reporting" some news station did recently, and it wasn't good news for Cash 4 Gold!!!

For example, they would have someone bring in some gold jewerly to a pawn shop, and get an offer of $400. Then they would send the same jewerly to Cash 4 Gold and the Cash 4 Gold offer would be $98. So even with the pawn shop low prices, they were paying significantly less. Then they reported on the tactics they used to keep your jewerly - very shady and unethical (bordering on illegal).

There was an interview by an empolyee that Cash 4 Gold that really was eye opening to say the less.

Someone could do an internet search and find that I am sure.

lcoopie

I previously posted this

cash for gold

robkool

BIG TIME !!! Run...

EagleEye

Thanks for the info! I posted a link on the front page of my web site.

woodardcoin

I read all of the report. And seems to me like a great way to wash a little dirty money as well . I wonder if thier finacials are posted to public record?

CaptHenway

Good way for burglars to get rid of stolen jewelry without all those pesky "I.D. required" and "30-day holding period" laws...........

Elcontador

You can take this to the bank: the more aggressively a product is promoted, the bigger a scam it almost always is.

barbershopper

IXNAY ON THIS OMPANYCAY!!!
That makes about as much sense as their commercials.
They're about as bad as World Reserve Monetary Exchange
which runs full page ads in our newspapers.
JT

boucharda

<< <i>You can take this to the bank: the more aggressively a product is promoted, the bigger a scam it almost always is. >>

slinc

I didn't even have to do any research to know they were probably bs, my wife saw the ad and wanted to send in some broken jewelery she had but i sent her to a local B&M instead that also buys scrap gold and they were very fair with her gave her almost $500 which is more then i thought she would get, cash4gold would have probably sent that $98 offer or something.

ebaytrader

Gee, I wonder how JP, who happens to be coin collector as well as a free-lance reporter, came upon this story.