Cash for gold in USA

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Torgo

Torgo

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You may have noticed the commercials that advertise "Cash for Gold". It is a store that you trade your gold (like jewelery and such) for cash. What do you think of this program? Does it have other implications?

I will respond in a later post, but I want to see what others think.
 
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It sounds like a program that says "OHAI U CAN HAS GET RICH QUIKK NAOZ", but I don't think you get as much money as the commercials have you picture. We are talking about trading old gold/ jewelry for cash. Sure you get money, but not lots and lots of it like some people think.
 
I'd have to know the exchange rates to make any informed opinion about the program itself.

My gut feeling tells me that the people trading in gold don't get exactly a fair bargain. I can only say this based upon the commercials themselves, which vaguely remind me of those for payday loans and other programs that target needy and desperate people.
 
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I never tried it out. But looking at what other people are saying. You do not get so much money from this. Its trying to suck you in, and in the end. You feel ripped off for trading your dead husbands wedding ring for a low amount of cash.
 
I'm not in the US so I've never heard of this, but just out of curiousity's sake I have to ask... do we really have any incentive to play with a program with this when we could be turning in gold to, oh say, a pawnshop or a genuine jewelery store? Does the cash you get from it compare? It kinda strikes me as unnecessary and futile when you consider there are already existing and potentially more profitable alternatives about, and have been for quite some time.

Of course, without some actual rates to go off I can't really say much for sure, so I think I'll reserve judgement until somebody sheds some light on the "cash" side of this program.
 
Sorry, I shouldn't have said "program", since it is a chain of stores. I changed my topic title now.

Well, it seems like this is just a flat out scam according to http://www.xcomplaints.com/complaint/former-employee-exposing-the-scams-of-cash4gold-c2.html. This is a bit disappointing from a debate standpoint, since I wanted to talk about if anticipation of an extremely devalued dollar might have to do with it. Maybe the cash for gold employers anticipate that as well, which would make it even MORE of a scam that it appears to be.

EDIT: I am no longer sure if this is debate worthy anymore, so I moved it to general discussion.
 
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You're better off buying a stable stock to guard yourself against inflation.
 
Cash is trash.

Money is constantly getting devaluated, while gold keeps on it´s price, trading a jewlery for money is a stupid thing to do.

Lets say for example in one month you get 3000$, you loose 1000$ each month, having 2000$ left and with 300$ (1/10 of what you get on a month) you buy an x quantity of gold. But in 2 years you may be getting the same amount of money, while everything else will cost much more, including gold. The gold you bought could be 600$ or 900$ (wich is 2/10 and 3/10 of your money), so keep your gold and use it when you need it.
 
When the US Dollar was based on the value of gold, perhaps it was important.
 
Ugh ok Foxy. XD

I was just going to send some gold jewelry in but after reading this blog I decided to go to a local pawn shop called Mega Cash located at 1919 NW 20 Street in Miami. I had 200dwt of 14K gold and I received $5,200.00 in cash!!!!!
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Well, it seems like Pawn shops ARE a better way of getting money. How do they get away with these scams?
 
Autosaver said:
Well, it seems like Pawn shops ARE a better way of getting money. How do they get away with these scams?
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Simple. They target people who don't bother to shop around. And we have waaay too many people like that in America.
 
There was a time (not very long ago) where I heard that some American people were searching for gold in mountains or places where it has been told that there was gold in it. IMO, there's a high probability that that's related to this fact.
 
My sister used to work at a Checks Cashed. For those who don't know what it is, it's a store where you give them your checks, and they give you the amount that's on the check. Sort of like a bank, but for checks only.

Anyway, she's gotten a few checks from Cash For Gold, and they were around 5 dollars or so. So yeah, it's a scam. You might as well go to pawn shops and try to haggle.
 
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