to be wondering what the dodginess is about these daytime tv "cashforgold" ads?

[minxofmancunia]

They're on in the day so they must be dodgy.

What's the deal with them?

they give you a tiny percentage of the actual value of the stuff.

I see, why the sudden upsurge in these companies?

Because the price of gold has gone up massively and they're looking for people to rip off.

The price of gold has soared, and the recession means people are looking for ways to get extra money from things they don't use. But Which just did a report on them, and a lot of them only pay you 6% of the true value of the gold!

Report here

My friends DD has decided that when she is older she's going to buy lots of gold and sell it a small piece at a time to these companies to make lots of money.

the deal is they give you nothing like the price the gold is actually worth.

They have sprung up because people have jewellery lying around and it is easily posted and sold.

People can't lug the 50" plasma down to the corner pawn broker but they can bung an old bracelet in a pre-paid envelope.

Some people are desperate for cash so will use them and that is why they can get away with ripping people off.

Being talked about on The One Show tonight.

Confirming exactly what we all suspected.

A while ago I made an enquiry about this. I have some necklaces that i dont like any more so I thought I may as well sell them rather than just have them sitting there.

I got sent an envelope but in the end never bothered to do it.

A few weeks later I got an email saying that my item I sent in was not gold and that I would need to pay to have it returned or if not they would keep it and dispose of it for me (um thanks very much) .

Idiots or con men - I'm not sure. I hate to think what a waste of time and money it would have been if I had actually sent the necklaces in and then paid to have something returned that didn't even belong to me.

All our currencys used to be backed by gold. You used to be able to take money in and change it for its equivalllant value in gold. BUT this country and others have removed the gold standard and Gordon Brown sold off all our gold reserves when they where rock bottom. Basically banknotes are only worth what you can persude people to believe they are worth, they have no intrinsic value.

Because paper curencys are basically broken people are investing in gold as it holds it value also the mining of gold has gone right down.

So yes these gold companies are robbers and are tricking you to sell your gold for cheap prices. Its better to hold on to it incase there is a total collapse of the dollar.

Watch this video its very informative.

here

Same as Abubu, DP sent in a couple of gold things he got as birthday presents that he doesn't wear. Belt style chunky gold ring that was about £80 quid in Argos for his 18th birthday (I know it sounds soo classy!) and gold plated watch worth about £150.

Got an email back saying the watch had no gold content and were posting back and the ring was worth £7.31. If he wanted the ring back it would cost £10!

Totally exploiting chavs stupid people with lots of gold. DP is normally intelligent as well! As a general rule, I avoid anything that is shown in the ad breaks of Trisha or Jeremy Kyle!

I was totally with ricky gervais on this

me too, very funny.

DD was very excited when she saw a certain advert the other day, she thinks it is a game for mummies and daddies and you have to run around finding gold in the house

hello southeast

As a general rule, I avoid anything that is shown in the ad breaks of Trisha or Jeremy Kyle!

Me too HellBent. I feel guilty enough for watching them in the first place!

hello pointy