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Wednesday, April 7, 2010 as of 11:14 AM ET

Your Questions, Your Money
  • September 4, 2009 09:35 AM UTC by Dagen McDowell

    How Much Cash4Gold?

    With gold glittering once again, you might be thinking about how to cash in some of granny’s old jewelry. And we’ve all seen the Cash4Gold ads. Some feature financially challenged celebrities promising fast cash for that gold jewelry sitting around the house. The appeal is ease and a nice payday: No time consuming eBay listings. No trips to the pawn shop. Just place your gold in the free envelope and wait for your check to arrive.

    But how good of deal is Cash4Gold? It’s a question never asked by most reporters – like somehow it’s in bad taste to ask a company called Cash4Gold how much cash you get for your gold.

    As you probably have no idea what your old junky jewelry is worth – much less the raw gold value once melted down – it can be hard to determine what you’re getting. To answer this question, my husband and I mailed an actual 100% pure gold coin down to the Cash4Gold people much cash my gold would get.

    Bottom line: Cash4Gold is legit. But is it – as spokesman MC Hammer who appears in various Cash4Gold advertisements might say – 2 legit 2 quit? Convenience comes at a very high cost.

    Too see how much cash you get for your gold from Cash4Gold, check out this video from my August 29th live show, “Your Questions, Your Money” airing from 10am to 2pm. This check was opened live on TV.

    But it’s worth nothing you do not have to accept Cash4Gold’s offer. You have 12 days to call them or mail the check back. And they do respond promptly.

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