Cash for Gold

[ArabHibee]

After watching daytime tv for the last few weeks, I am astounded at the amount of adverts now encouraging people to exchange their unused or unwanted gold jewellery for cash.

What intrigues me with this is that you call up the company who send out a plastic envelope for you to send your jewellery back to them in. Their name is emblazoned all over the envelope making it very easy to identify what is in the envelope.

Am I just being very cynical but would you not be concerned about sending this through the post?

[Wembley67]

Totally!! I'm sure I read somewhere that the price you get is ridiculous, something like 30% off its worth. Companies like this know people are desperate and will exploit them in any way they can.

I only caught this advert a couple of nights ago, I presume it is now being aired on the run up to crimbo - tools.

[heretoday]

These people are all over the place. Wester Hailes plaza has a permanent stall in the concourse. There is something Fagin-like about it.

[khib70]

After watching daytime tv for the last few weeks, I am astounded at the amount of adverts now encouraging people to exchange their unused or unwanted gold jewellery for cash.

What intrigues me with this is that you call up the company who send out a plastic envelope for you to send your jewellery back to them in. Their name is emblazoned all over the envelope making it very easy to identify what is in the envelope.

Am I just being very cynical but would you not be concerned about sending this through the post?
Justifiable concern I think. And basically not a good idea anyway. These guys offer derisory prices, often 20% of the market value. See this article:

http://www.timesonline.co.uk/tol/money/consumer_affairs/article6840012.ece
Rip off merchants preying on the victims of the recession. Still it makes a change from ambulance chasing lawyers on daytime TV.

[Jonnyboy]

After watching daytime tv for the last few weeks, I am astounded at the amount of adverts now encouraging people to exchange their unused or unwanted gold jewellery for cash.

What intrigues me with this is that you call up the company who send out a plastic envelope for you to send your jewellery back to them in. Their name is emblazoned all over the envelope making it very easy to identify what is in the envelope.

Am I just being very cynical but would you not be concerned about sending this through the post?

The most worrying thing is that you've been watching hours of daytime TV :shocked::greengrin

[Lofarl]

Dont forget to recycle your old mobile phone for some wonga too.

[Killiehibbie]

I would not encourage these companies, if I had any gold i'd rather it sat in a drawer or went in the bin than go to them for a fraction of its value

[lucky]

Jewellers at the top ER also buys it and I'm told he does not rip people of.

[Big_D]

We sent some old / broken stuff away a few months back , thought we might get 50-60 quid. I was amazed when we got £280 in the bank on the day they received it

[Sean1875]

Was a thing on BBC news recently, bunch of gold got priced at around £300 by a jeweller, one of these cash for gold companys came back with a £60 offer, complete rip.

[Judas Iscariot]

The most worrying thing is that you've been watching hours of daytime TV :shocked::greengrin

Tax dodging student no doubt :bitchy:

[Sylar]

I saw a really worrying one the other day actually (though not during daytime hours) which advertised the ability to take a loan out against your unused gold, with an APR of 85%!!!!!! Can't remember their name, but it ended with 2x oo's I think!

There are always those who know how to take advantage of others during trying times! Some poor schmuck will get roped in and rack up a rediculous debt with that kind of figure!

[ArabHibee]

The most worrying thing is that you've been watching hours of daytime TV :shocked::greengrin
Being semi-retired is a wonderful thing! :greengrin


Tax dodging student no doubt :bitchy:

:lips seal

[speedy_gonzales]

These people are all over the place. Wester Hailes plaza has a permanent stall in the concourse. There is something Fagin-like about it.
Ha ha, I used this guy a couple of months back.
My old neighbour told me she'd been in and handed over some worthless tat and got over £100 in return. I'll be honest and initially thought she'd been ripped of(she's 72) so I decided in the interests of market research to rake about my wife's jewellery box for some scrap gold.
In total I found a broken 9ct rope chain, a thin link chain with locket,6 odd earings with butterflies and 2 costume rings. I took them to a shop in Gorgie, she offered me just over £50, I then took them to the shop upstairs in the WH centre, dude there offered me something in the region of £60. Then I went downstairs to a young lad glued to his mobile, sitting behind a trestle table. He looked at the gold closer and longer than the previous 2, he asked my permission to rub at some of it and apply an acid solution to check purity then gave me his spiel about how they use market prices for scrap gold, as everything they get is melted down minus any stones, here we go I think, get ready for a derisory offer! To my suprise he offered just shy of £140. I honestly didn't intend to take his first offer, but I did.
The stuff that we were NEVER going to use again paid for a very nice night out. I must admit, I still feel a little bit dirty about it but hey-ho, free money is free money!


**Just want to add I had my wifes permission to sell and am not connected to the stall in any way, shape or form**

[Mike777]

Nicktoons channel 717 have a least 1 every advert break! i am ok having to put up with spondgebob squarepants, but not these crappy adverts..

[Just Jimmy]

I saw a really worrying one the other day actually (though not during daytime hours) which advertised the ability to take a loan out against your unused gold, with an APR of 85%!!!!!! Can't remember their name, but it ended with 2x oo's I think!

There are always those who know how to take advantage of others during trying times! Some poor schmuck will get roped in and rack up a rediculous debt with that kind of figure!

there was a loan company i saw the other day with an APR of 2000 odd per cent! I was dumb founded and actually watched for the ad again to see if I'd mistaken. Unbelievable!

[Woody1985]

I saw a really worrying one the other day actually (though not during daytime hours) which advertised the ability to take a loan out against your unused gold, with an APR of 85%!!!!!! Can't remember their name, but it ended with 2x oo's I think!

There are always those who know how to take advantage of others during trying times! Some poor schmuck will get roped in and rack up a rediculous debt with that kind of figure!

Is that not similar to pawn shops?

[Pete]

I hope Gordon Brown doesn't read this thread.

[Killiehibbie]

I hope Gordon Brown doesn't read this thread.

He wont be reading this he gave all our gold away when the market was at the bottom. Not very prudent.

[Woody1985]

He wont be reading this he gave all our gold away when the market was at the bottom. Not very prudent.

:agree:

Although that is the benefit of hindsight. It's easy to say that it would have been worth x billions more now.

[Hibbie_Cameron]

wonga!!

[Liam89]

I think IIRC the advert said something about being insured for up to £1000 or so.7423=1==

[IWasThere2016]

there was a loan company i saw the other day with an APR of 2000 odd per cent! I was dumb founded and actually watched for the ad again to see if I'd mistaken. Unbelievable!

Ive seen that J - it is 2356% .. morally bankrupt organisation!!! :grr:

[NOLA]

surely you get a better price at the pawn?

[blackpoolhibs]

I was given a gold bracelet for xmas a few years ago, by an ex girlfriend. I never liked it from day 1. I dont wear jewelery, and this bloody bracelet made me look like Jimmy ****in saville. I had to wear this thing one night at some function we were at on a friday, and next morning i was up early for a trip to ibrox in the scottish cup. ( Lost 4-1 ):boo hoo:

Anyway, gets home that night, went out for a few pints and then go to bed. I get up in the morning, and i cant find the bracelet. I search everywhere, but i cant find the bloody thing. Search the car, go to the club and ask if its been handed in, nothing. This bloody thing cost my ex £900, but the good thing is its insured. All i have to do is find the receipt, go to the shop, my ex will never know.

I cant find the receipt.:grr: So i have to swallow my pride and tell her the bad news. She was fine, we take the receipt to the shop, they say fine, but gold has gone up, the £900 bracelet is now £1200 and to get the same bracelet, i have to put £300 in to get the same horrendous bracelet.:grr:

So again, i put the money towards it, and everything is fine. Until 6 months later, i find the original bracelet when moving some furniture in the bedroom. :grr: Now i have 2 of the most horrendous bracelets known to man.

The good news at the end of all this is, i am no longer with that lady, and i cashed them in a couple of months ago, and got £1600 for both of them. :thumbsup:

[Speedy]

Ive seen that J - it is 2356% .. morally bankrupt organisation!!! :grr:

Quick quid?

I wouldn't agree with the bit in bold. It is clearly a rip off but they are offering a service, they are not forcing anyone to use that service.

[Woody1985]

Quick quid?

I wouldn't agree with the bit in bold. It is clearly a rip off but they are offering a service, they are not forcing anyone to use that service.

The APR is huge but it's a short term loan. However, they do offer the facility to keep bumping it on.

I borrowed £320 from one of them and was due to pay back £400. I've just paid the interest this month, which means I'm still due £400 next month. I'm not paying it next month, optional as I've got a weekend away to pay for (stupid when I'm in debt I know), so I reckon by the time I pay them back I'll have given them 240-320 over a 3/4 month period.

It was my choice to go to them so I don't feel sorry for myself.

[northseahibby]

Am i missing out on something. does every body else have gold knocking about.

[ArabHibee]

Am i missing out on something. does every body else have gold knocking about.

Some people probably will. I have a couple of broken chains, one I know that cannot be fixed and I know my mum has quite a bit of gold that has been inherited and she will never ever wear it so I suppose if you need the cash, it's always an option.

On another note, I was out for lunch today with a friend and she was telling me she had recently found out that her 17 year old daughter had sent some of her (my friend's) jewellery away to one of these places for money. Said daughter thought it would be ok as parents are separated and the jewellery had been given to my friend by her husband!! :faf:

[1875godsgift]

I was given a gold bracelet for xmas a few years ago, by an ex girlfriend. I never liked it from day 1. I dont wear jewelery, and this bloody bracelet made me look like Jimmy ****in saville. I had to wear this thing one night at some function we were at on a friday, and next morning i was up early for a trip to ibrox in the scottish cup. ( Lost 4-1 ):boo hoo:

Anyway, gets home that night, went out for a few pints and then go to bed. I get up in the morning, and i cant find the bracelet. I search everywhere, but i cant find the bloody thing. Search the car, go to the club and ask if its been handed in, nothing. This bloody thing cost my ex £900, but the good thing is its insured. All i have to do is find the receipt, go to the shop, my ex will never know.

I cant find the receipt.:grr: So i have to swallow my pride and tell her the bad news. She was fine, we take the receipt to the shop, they say fine, but gold has gone up, the £900 bracelet is now £1200 and to get the same bracelet, i have to put £300 in to get the same horrendous bracelet.:grr:

So again, i put the money towards it, and everything is fine. Until 6 months later, i find the original bracelet when moving some furniture in the bedroom. :grr: Now i have 2 of the most horrendous bracelets known to man.

The good news at the end of all this is, i am no longer with that lady, and i cashed them in a couple of months ago, and got £1600 for both of them. :thumbsup:
:wink:
I'm sure there's a moral in that story somewhere, but I'm ferked if I can find it!

[1875godsgift]

Am i missing out on something. does every body else have gold knocking about.
Funnily enough, 20 odd years ago I got fitted with a gold crown by an NHS dentist for free! A couple of years later it got an abscess and got ripped out on christmas day by a dentist in the now vanished Dental Hospital who handed it to me , dripping in blood, " here you go ".
It's in a box somehwere......