WASHINGTON, Nov. 20 — With the price of gold at an all-time high and the holidays fast approaching, many people are selling their broken or unwanted gold jewelry online – hoping for a big payout. But are customers really getting a fair price for their merchandise? FOX 5’s Trisha Thompson investigated the top three online gold buyers.
“Commercials and websites touting great deals on your unwanted jewelry sounds too good to be true,” reports Trisha Thompson. “So FOX 5 put them to the test.”
Thompson and the FOX 5 News team purchased three identical 14k gold necklaces from a department store and brought them to independent jewelry appraiser John Nguyen, President of May Jewelers. Nguyen valued each of the necklaces at $20.00 USD.
The team sent the same gold necklaces to three of the top online gold buyers (Cash4Gold, BrokenGold & CashForGoldUSA). In order to ensure fairness, all three companies were unaware of the experiment.
Here are FOX’s results:
Top-Paying Company: Cash for Gold USA
Fastest Turnaround: Cash for Gold USA
Cash for Gold USA $15.50
BrokenGold $5.60
Cash4Gold $5.52
Source: Fox 5 News Washington D.C. (“FOX 5 Investigates: Cash for Gold;” 11-17-2008). Cash for Gold USA paid nearly 3X the amount paid by both competitors.
Although all three of the companies claimed to offer the “Highest Prices,” Cash for Gold USA managed to beat out the competition by almost 300%. Cash for Gold USA paid nearly three times more money than both Cash4Gold.com & BrokenGold.com for the gold necklace. During his interview, appraiser John Nguyen said, “If they [the gold buyers] give you five bucks for a chain like this they’re trying to steal from you.”
When asked to comment about the outcome of the experiment, Norm Schneider, President of Cash for Gold USA, remarked simply, “The results speak for themselves. We’re not surprised.”
In addition to being the top-paying company, Cash for Gold USA offered the fastest service – they were the first company to deliver payment.
However, price and turnaround aren’t the only things to consider when selling your gold jewelry. Schneider recommends that consumers check out their prospective buyer carefully before sending in their gold items through the mail. A good starting point is the Better Business Bureau. They will disclose any complaints received about a buyer. If there are a lot of complaints, it’s probably smart to look elsewhere until you find a reliable, trustworthy company. Do the research and check it out yourself. In the end it could mean THREE TIMES the money in your pocket – and a lot less aggravation.
Cash for Gold USA & Cash for Silver USA are both safe, reliable sites for sellers looking to turn their broken and unwanted gold jewelry or silver items into cash — without long delays or slow payments. Cash for Gold USA is endorsed by the Better Business Bureau, Truste, JVC, and MJSA. The company is wholeheartedly committed to customer satisfaction.
CONTACT: Henry Miller of Cash for Gold USA, 1-888-GOLD-808, info@cashforgoldusa.com
Cash For Gold 
Leave a comment