MyGoldSold.co.uk Laughably Stupid Claim to Pay 30% More for Gold than any UK Buyer
This Google Adword is laughable & must have been written by someone stupid, dishonest or both, and targeted at stupid gullible people.
As the company My Gold Sold Ltd, Registered in England No: 06943558, also stole our Credit Suisse 100 gram gold bar photograph, we know they are dishonest.
Our search for "scrap gold prices" gave the following result (in first place - right hand side):
Best price paid for gold
We buy gold for at least 30% more
than any other UK buyer, guaranteed
MyGoldmine™ Official Site
My Gold Sold Ltd
According to their website:
MGS, 131-179 Belsize Road, London, NW6 4AQ
Free Phone : 0800-756-5397
A quick internet search:
24/06/2009 New Incorporation documents.
Address: Reading, Berkshire RG7 8NN, UK
Companies House shows:
MY GOLD SOLD LTD, 5 JUPITER HOUSE CALLEVA PARK, ALDERMASTON, READING, BERKSHIRE, UNITED KINGDOM, RG7 8NN
Domain Name Check
Nominet's Whois service reveals:
Domain name: mygoldsold.co.uk
Registrant type: Unknown
Registrant's address: 14-18, heddon street, london, W1B 4DA, United Kingdom
We Buy Gold for at Least 30% More than any Other UK Buyer, Guaranteed
This is the exact wording of My Gold Sold Ltd's Google Adword advert, which we show at the top right of this page. Never can we remember seeing any statement which was so self-evidently false. It is almost beyond belief. Several hours after first seeing their advert, we are still shaking our heads in disbelief. How anybody could write such absolute crap is just beyond us. We can only assume that it is targeted at stupidly gullible and innumerate morons.
Let's assume that a reasonably competitive buyer pays 90% of intrinsic spot gold value. My Gold Sold Ltd's price would be 120% of gold value, i.e. 20% more than the stuff is worth. It is possible to get up to around 97%, in which case, My Gold Sold Ltd's price would be 127% of intrinsic, or 27% more than the actual gold value. Any business paying this much would quickly run up huge losses, and run out of money very quickly indeed.
Sure, there are lots of recently sprung up "gold buyers" who are only paying 60% or 70% of intrinsic, but My Gold Sold Ltd do not claim to pay 30% more than some or most, they claim to pay 30% more than any UK buyer.
Looking at their website, we can find no mention of 30% more, only a £5 more guarantee:
There are two parts to our BEST PRICE GUARANTEE.
A bit different from 30% more!
Should you receive an itemised, written offer for your scrap Gold from a National Gold recycling firm, send us a copy and we GUARANTEE to match it and pay you £5 for your trouble*.
My Gold Sold holds your items for a period of five days after we send your cheque, if you change your mind, send back the payment and we will return your items.
What we are saying is, if you are not entirely happy Contact Us and you soon will be.
We will match our competitors best price + £5, that is our BEST PRICE GUARANTEE.
Copyright Thieves Caught Red-Handed
When we looked at My Gold Sold Ltd's website, we noticed that their picture of a Credit Suisse gold bullion bar looked rather familiar. It's one of ours, of course, and dates back to 2006. Many upstarts and other small traders steal our high quality coin and gold bar images, either because they are too lazy to take their own, too tight to pay a professional photographer to do the job, or to use a photographic library, so they just nick the first decent photo they find on the internet, which often turns out to be one of ours. Actually, some quite large, and presumably profitable, companies also steal our images, and this list includes banks and bullion dealers.
Intellectual Property Rights abuse is dishonest and illegal. My Gold Sold Ltd have provided us with prima facie evidence of their dishonesty. If we cannot trust them with our photographs, can you trust them with your valuable gold?
Actually, we have previously replaced our own old image with a new better one, but the old picture can still be found one one of our older web pages.
What's so Bad?
Our Conclusions and Advice
My Gold Sold Ltd's 30% more claim simply beggars belief. It is blatantly untrue and dishonest. Also they stole our copyright image to use in competition with us.
As they are obviously dishonest, we recommend that nobody should trust them. Do not send your scrap or other gold to My Gold Sold Ltd.
Honest and competitive buyers of scrap gold do exist. It's sensible to shop around and compare prices. You may find a buyer in your locality. We also buy scrap gold, and pay fair prices without making hyperbolic claims.
Scrap Gold Selling Advice
Our simple advice about selling scrap gold jewellery in the UK and elsewhere. Avoid get ripped off.
We Are Always Keen To Buy Scrap Gold
As leading UK dealers since 1964, we are always eager to buy gold coins and gold bars. In addition, we also buy scrap gold in any quantity and carat.
Whether you have a single item or several kilos, we will always be interested in buying your scrap gold at competitive prices.
We also buy gold coins, whether it's an extreme rarity or a bullion coin. Whether your coin is in perfect mint state or only fit for scrap, we will buy it.
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.
We also frequently buy gold coins from many other countries. There is no import duty or tax on entry to the UK for most gold coins or bars.
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
My Gold Sold Google Advert
My Gold Sold What We Buy Page
Our 100 Gram Credit Suisse Gold Bar Photo
My Gold Sold 100 Gram Credit Suisse Gold Bar Photo