dollars4gold is it a scam?

Whether you live in the USA or Canada you have probably seen pitchman Anthony Sullivan selling one thing or another on television. If you can't place him, I'm sure you'll recognize him when you see him. He's the British guy that uses his hands way too much in his loud, robotic, can't live without it, commercial orations. He's convincing and good at what he does.

Here in Canada Anthony has been pitching an ad for dollars4gold. Scrap gold. They will even take unwanted diamonds. Imagine! Unwanted diamonds! Wow what a deal! And you know they can be trusted because they are a publicaly traded company on the OTCBB abreviation MFGD Just like Lehman Brothers and Bernie Madoff and with a money back guarantee nonetheless. How can one go wrong? Ok lets take them at face value after all they are offering a money back guarantee.

On the right are photos of the jewelry that I sent in. Nice vintage pieces that I picked up at an estate auction for a very reasonable price. I filled out their form, online, at dollars4gold Canada. Wasn't long, maybe three days and I had my package. A plastic envelope for the treasure and a postage paid return envelope, with a tracking number, via Canada Post. I carefully placed my hoard in the ziplock bag and mailed it off Wednesday, May 19, 2010. With a mindset of experimentation and no false expectations I was thinking it would be nice to get $200.00 - settle for $100.00 - say no to anything less and test their guarantee. After all, they were antiques and surely worth at least $100.00. Less than a firesale price.

I received my check today, June 01, 2010 - $37.77 - thirty seven dollars and seventy seven cents. I was dismayed. Can they be serious? Most of us know we could sell these rings, as pictured, on ebay, kijiji or the classifieds in the local newspaper for much more. We could be conservative and say seventy five dollars. But realistically, a couple hundred would be more like it using the above venues.

However I can't say I'm surprised. Unfortunately on this day in time, what seems to be too good to be true, usually is. Scrap/unwanted gold and diamonds was the first clue. "You know we can be trusted because we are a public company", the second. It is written on the cheque stub "returns must be received within ten days to receive your items back". I will be sending their cheque back in the morning. That wil be June 02, 2010. Lets hope all I will lose is the price of postage to send the cheque back. We'll see...

Please check back in the coming days for a closing report and opinion on my experience with dollars4gold.  I invite all comments and questions.  Anyone out there had any experience with dollars4gold? I am sure we'd all like to hear about it.

Thanks for looking and have a great day!

Well after much prodding from my beloved wife I finally made a call today to inquire about my rings.  I haven't received them yet and its now been over eight weeks.  They said it would take up to eight weeks and they have used all of that - makes me wonder - of what I'm not sure.

 Seems like it might be a good way to get rid of gold anonymously.  All I did was give them my name an address.  I could have used any name or address, they didn't ask for I.D..  Oh yeah, they'll even take unwanted diamonds too. 

Now I dont mean to be trashing these guys because so far they have done what they said they'd do.  Although a bit late on the return and assuming I will get my glitter back, they have pretty well lived up to their guarantee.  However me thinks from this experience I have learned it pays  more to take your bling to a pawn shop or even ebay.  Unless of course you stole it......

and that my friends is a whole other story.