Gold Investment Index Page

Main Page
Krugerrand Information
Krugerrands For Sale
Sovereign Information Sovereigns For Sale
Year 2000 Sovereigns
Gold Bars
Bars Information
Bars For Sale
Half Sovereigns
Half Sovereign Information
Half Sovereigns For Sale
Year 2000 Half Sovereigns
About Us
Our Selling Terms
Order Form UK
Order Form USA

Misleading Adverts

Cash for Gold (
One of the biggest scrap gold advertisers is in the USA. Cash for Gold actually pay some of the lowest prices anywhere.
There are a number of examples of TV adverts posted on YouTube. We found them quite entertaining, but obviously aimed at the sort of people who watch Big Brother and other "reality" shows.
As we are based in the UK, and cash4gold are in the USA, it's hard for us to give first-hand information about them, but the circumstantial evidence from numerous online forums all points in the same direction.

Typical Forum Post

Ever see those ads for cash 4 gold? Here is how the scam works.
You guys are using the word "scam" pretty loosely here. They don't keep the gold if you tell them not to. They don't send you a bum check. They make an offer, and you're free to take it or not. And, apparently, they're even willing to haggle if you refuse the first offer.
I agree, they are shady, and their offers are certainly a joke. But making lowball offers to people trying to sell a good, and then being willing to bargain, does NOT constitute a "scam." Not by any reasonable definition of the word.

I once did a test of these services (just for fun). I didn't use Cash4gold, I used Gold Kit. Here's how it went down: First, these services advertise "insured" handling, however, they only insure your shipment for up to $100 (or $300 if you had your items appraised). So if you send them $5000 in gold they could theoretically just "lose" it and cut you a check for $100.
Knowing this insurance limit, I sent them $100 in gold. It so happens I have access to 5N (99.999% pure) gold. I sent them the exact weight in gold which would be $100 as 24K (99.9%) but it was actually 99.999% pure (so there would be no excuses).
The other thing you need to realize is that the "offer" is not on the table for long. I believe it was 10 days from the time they print the offer check. No response means they just keep your gold, melt it down, and you're SOL*. That means from the time they print the check until the time they receive your returned check rejecting their payment must be less than 10 days. When my check arrived in the mail, it was 7 days old (which meant I had to mail the check and have it back to their mailbox in 3 days).
So, my check arrives (7 days after it was printed) for $4 and change. That's right, I sent the maximum insured amount and they offered a measly $4 for it.
So, to get any more than $4, you would either need to have your items appraised or send items which exceed the insured value. Also, if you want your money back, you pretty much have to mail them the check the same day it arrives, or it will likely be too late.
I hesitate to call it a scam, but it's definitely an extreme rip-off with many pitfalls which are very likely to trip up people using these offers in good faith.

Fox News did a report on them and called them a "rip off."
I don't consider their advertising "false" or even "deceptive" -- it's just vague (i.e., by not saying how much you'll be payed).

We had to Google this, and it apparently stands for "Shit Out of Luck".

Appears to be an offshoot of the infamous

Scrap Gold Buying Rip Off
Many jewellers & dealers advertising to buy scrap gold jewellery in the UK are ripping people off with low prices & misleading claims. We contribute our advice and expert opinion.

Our Conclusions and Advice
Over more than 40 years in this business, we have seen a stream of similar cash buyers, advertisers, and leafleteers, most of whom pay low prices. We would recommend that any potential seller shops round a little. If you are not satisfied by the price you can get locally, you could always post it or bring it to us, and will almost certainly get a better price than from your local jewellers and dealers.

Scrap Gold Selling Advice
Our simple advice about selling scrap gold jewellery in the UK and elsewhere. Avoid get ripped off.

Any Quantity
We are happy to buy any quantity of scrap, from a single piece upwards, without limit.
If you have a large quantity of gold scrap to sell, we will accept your instructions on price, or offer you helpful advice on selling. We are one of the longest established and largest gold buyers in Britain.

Fair and Competitive Prices
Our buying prices for gold coins, bars and scrap are fair and competitive, but depend and change based on underlying gold prices, and other market conditions such as supply and demand.

Sending Gold Scrap by Post
You are welcome to visit our showroom to sell scrap, but it's also very easy to sell to us using the post. We have a page of advice about sending gold coins and scrap by post.
We suggest you bring ID if visiting our showroom.

Gold Selling Form
You may wish to print out our form to help make it easy for you to list goods you are posting to us for sale or offer.

We Buy Gold Coins

We Buy Krugerrands

We Buy Gold Sovereigns

We Buy Gold Bars



"Tax Free Gold" website is owned and operated by Chard (1964) Limited
32 - 36 Harrowside, Blackpool, Lancashire, FY4 1RJ, England. Telephone (44) - (0) 1253 - 343081; Fax 408058;
E-mail: Contact Us  The URL for our main page is:

EV SSL Certificate