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Cash4Gold making money on fear

Posted Oct 05 2009, 05:38 AM by Douglas McIntyre
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Cash4Gold is a low-rent business that buys cheap television time to promote its program in which people to send it gold in exchange for cash. Turn that old jewelry into money.

It turns out that Cash4Gold is an outstanding business. According to TechCrucnh and The New York Post, the company made $30 million on $90 million in revenue and sales are on track to hit $160 million this year.

Cash4Gold is certainly an example that bottom-feeding can be profitable for companies that prey on people’s worst financial fears. Gold has been presented as everything from a safe-haven in troubled economic times to a hedge against inflation. Gold can rise and fall like any other investment or commodity so the Cash4Gold claims are meaningless.

Feeding on fear has always been good business.

Top Stocks blogger Douglas A. McIntyre is an editor at 24/7 Wall St.

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Comments

 

Cash for Gold is a total scam. Youc an get more money if you sell your gold at the pawn shop.

catherine (Posted 10.05.09 9:39 AM) Report Abuse

How can  so many people be so foolish and give their gold to a company like that, when it is so easy to do research on the web to find out how much is your gold is worth and then take it to a reputable business and get more money for it, but this is whats so great about this country, you can make money from any kind of business at any given time.

Al. (Posted 10.05.09 9:47 AM) Report Abuse

You are much better off going to a legitimate refiner than with the likes of this company. They are paying very little % for your content and in some cases even less than pawn shop trade.  I feel bad for people who get sucked into this company, becuase there reputable places to get a bigger bang for your buck and you have full control over your metal content and the results of your assay.  Be careful!

Tracy (Posted 10.05.09 9:47 AM) Report Abuse

I metal detect often and have befriended a local pawn shop. They give me the value of the gold I find not pennies of the value like this scam does.

Rick in Reno (Posted 10.05.09 9:48 AM) Report Abuse

If you really want to sell your gold, get quotes from a few local jewelers. You will do much better.

Kevin in NH (Posted 10.05.09 9:52 AM) Report Abuse

I bet you people wouldn't be complaining if you owned the company now would you?

Terry (Posted 10.05.09 9:52 AM) Report Abuse

If your stupid enough to send your gold in the mail to a company like this  no wonder you are broke..........you will no doubt be broke in a good economy also...........LOOK BEFORE YOUR LEAP!!!

David (Posted 10.05.09 9:54 AM) Report Abuse

It's hard to believe that so many people still now aday can be so easely drugged to commit acts of such a low or none intelligence, that shows us how vulnerable some ones are when they come face to face with money

Oreb Aispuro (Posted 10.05.09 9:55 AM) Report Abuse

You notice on their ad they say we are paying 20% more. If gold is trading at $1000 an once does that mean they will give you $1,200? How much are they paying ? I'd be aware of those testomonials as well. I worked for a telemarketing company taking inbound calls for a weight loss product which was advertising over the radio. The testomonials on that 30 second slot was made by the owner , and employees who worked their. If thats not misleading I don't know what is. So for those responding to any informercial do your homework.

Alex (Posted 10.05.09 9:57 AM) Report Abuse

Cash for gold is a Big Rip Off!! they steel your stuff and give you a check for 10 cents and you can never get your belongings back. Stay away.....

alex (Posted 10.05.09 9:57 AM) Report Abuse

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