Were The Disgruntled Employee’s Complaints about Cash 4 Gold Legitimate?

Were The Disgruntled Employee’s Complaints about Cash 4 Gold Legitimate?

Cash 4 Gold is a renowned gold buying company. Even though the company has only been around since 2007, it has changed the way that consumers and buyers exchange precious metals amongst themselves. Chances are you have heard all of the great stories about Cash 4 Gold and their policies. However, after a former employee of the company filed a complaint against the large gold buying agency in 2009, the company was quickly put under investigation.

 

The complaint filed by the employee stated that they were forced to work in unsafe conditions. The chemicals that were used within the company’s lab to test the gold that was sent in from consumers compromised the air quality of the building. This compromise in air quality contributed to various employees having to be removed from the workplace and taken to the hospital.

 

The employee went on in their complaint stating that Cash 4 Gold consistently offered lowball offers to consumers that were interested in obtaining cash for their unwanted or scrapped pieces of gold. If a consumer called in and complained about the amount of money that they were given for their gold transaction, then the employee had permission to offer the consumer more money for their gold pieces.

 

In some cases, the employee stated, employees were able to triple the original offer that they gave the consumer for their gold pieces of jewelry. The way that the process worked, was the lower amount of funds that a consumer decided to take, a higher bonus amount was given to the employee for the sale.

 

After the employees rants went live, Cash 4 Gold filed an injunction against the employee for their views towards the company. Cash 4 Gold claimed that the former employee revealed trade secrets that the company used, and was also making false allegations against the company and their practices.

 

The problem is if Cash 4 Gold was granted the injunction against the employee that was denouncing the company, some of the employees concerns must have been legitimate. Some of the complaints filed by the employee didn’t sound like the ranting words that a disgruntled employee would come up with. For example, the employee claimed that she watched checks being cut that took several days to be mailed to the consumer. It is not unusual for a large company, such as Cash 4 Gold to take their time when it comes to mailing out different correspondences to their consumers.

 

The only thing that all consumers are recommended to do before attempting to do business with Cash 4 Gold is to understand what the value of their gold pieces are. People that take any amount of money that is offered to them will end up shortchanging themselves.

Cash 4 Gold is probably the most well known name in the cash for gold industry.  They have a mixed reputation, with some customers insisting they are a reliable way to turn old and mismatched jewellery into cash while others maintain that they are a scam.

 

Cash 4 Gold’s website offers the same easy online form for your name and contact details to request a shipping envelope that most other similar companies offer.  The envelope is insured for up to $100.  If you believe your items are worth more than $100, you can package the items in your own materials and purchase a UPS label from Cash 4 Gold’s website that will insure your package up to $500.  You may also ship your items via the shipping company of your choice at your own expense.  Upon receipt of your package, Cash 4 Gold will issue payment within 24 hours.

 

You may request a quote before they issue payment, but you must request it on or before the day you ship your items.  Cash 4 Gold will call or email you with your quote and acceptance of the quote waives your right to the 10 day cooling off period.  You may not return the money in exchange for your items.

 

If you do not request a quote, Cash 4 Gold will mail you a check or you can choose the Fast Cash option for a wire transfer to your bank account.  The Fast Cash option costs $4.99 and is deducted from your payment.  This option also waives your right to the 10 day cooling off period.

 

If you decline Cash 4 Gold’s offer, they will return your items via priority mail for free.  If you receive a check but change your mind, you may return your check within 10 days of the date on the check and your items will be returned via priority mail for free.

 

Cash 4 Gold is not a Better Business Bureau accredited company and has only a C rating from the BBB due to 51 serious complaints received within the last year.  Cash 4 Gold has received over 300 complaints in the last three years.  Cash 4 Gold claims that any damage to its reputation is due to counterfeit use if its name and logo.  They state:

 

These Cash4Gold scams are a reflection of the brand’s growing recognition as a trusted leader in the mail in gold buying business.

 

However, a number of customers have posted less than satisfactory experiences with THE Cash 4 Gold on ComplaintsBoard.com.  An ex-employee even made headlines, claiming that Cash 4 Gold held on to the checks for up to four days before mailing them out, significantly narrowing the 10 day cooling off period.  Cash 4 Gold maintain that the ex-employee was disgruntled and dishonest.