Cash for GOLD = Legalized Fencing?

[pmajka]

Was pondering the meaning of life then this thought entered my head.

"Give us your Gold, we will give you Cash!"

Where did the Gold come from?

How often can I give you my gold?

Is anyone watching? Police? IRS? Under $10,000.00?

In this economy, I am wondering if there is an increase of B&E.

[Porsche-O-Phile]

You talking about those stupid infomercials?

I always wondered what kind of moron someone would have to be to put expensive gold jewelry into a very loudly-decorated envelope with "GOLD!!!" written on it into a mailbox or hand it off to some $10-an-hour government employee.

Not to mention the company wouldn't be doing this if they didn't think the value was going to go up. As such, someone would have to be a grade-A fool to do this. Plus there's no control over the terms of the deal/negotiation/price you get paid - you've already handed over your bargaining chips. Lets say you send in 2 oz of 14-carat gold stuff and they send you a check back for 1.5 oz worth. What recourse do you really have?

As a general rule, stuff advertised on television (particularly "infomercial-style") is for those with room-temperature IQs or lower.

[id10t]

eBay has always been a good place to fence stuff from what I've read on hte intertubes.

[URY914]

Let's see. You want me to send you my gold and you will weigh it, determine the value of it and then send me a check. Sure, I'll drop it in the mail today.

[berettafan]

predatory marketing.

the people that dreamt this up probably hang out with the people who sell reverse mortgages.

[widebody911]

Originally Posted by berettafan

predatory marketing.

the people that dreamt this up probably hang out with the people who sell reverse mortgages.

..and run payday loan franchises...

[NICKG]

Originally Posted by widebody911

..and run payday loan franchises...

ha! ever see the ad with gary coleman? if you freeze the frame and read the terms..they charge like 125% interest! and there ia a huge preterm payoff penalty!
People who do those things deserve what they get...same with the gold kit...idiots.

[varmint]

i'm gonna send them that box of nuggets granpa brought back from the yukon to pay for my rent to own furniture.

[bell]

I sent them a big envelope of old gold plated audio connectors to see what would happen.....they shipped it back with a "sorry" letter

[Rick Lee]

I don't see the problem here. Life is and should be hard on stupid people. I don't mind watching them get fleeced. It's not predatory in the least. Who's forcing them to do anything? Hell, these commercials aren't even enticing folks. They're just looking for lazy idiots who place little or no value on jewelry they have laying around the house. I don't think pro fencers would risk a fed. mail fraud charge to do what they can do in any local pawn shop, on Craigslist or eBay.

[3.2 CAB]

I like the phrases they use, send us your OLD GOLD, or BROKEN jewelery. It is like they are saying that because you don't wear it anymore, of if it is broken, it has little value to you. Gold does not have an expiration date on it, it will always remain gold, and thus it will be worth whatever the going rate for gold is for its gold content and weight, or at least it should. But these bozos act like it it spoiled milk, so send it to us... what a deal!

[Aerkuld]

Originally Posted by Porsche-O-Phile

You talking about those stupid infomercials?

I always wondered what kind of moron someone would have to be to put expensive gold jewelry into a very loudly-decorated envelope with "GOLD!!!" written on it into a mailbox or hand it off to some $10-an-hour government employee.

Not to mention the company wouldn't be doing this if they didn't think the value was going to go up. As such, someone would have to be a grade-A fool to do this. Plus there's no control over the terms of the deal/negotiation/price you get paid - you've already handed over your bargaining chips. Lets say you send in 2 oz of 14-carat gold stuff and they send you a check back for 1.5 oz worth. What recourse do you really have?

As a general rule, stuff advertised on television (particularly "infomercial-style") is for those with room-temperature IQs or lower.

Just remember POP...

There will NEVER be a shortage of idiots.

[on2wheels52]

I had the misfortune to have had a toll account at a commercial refiner that I had been dealing with for 20 years go out of business. I felt lucky to only be shorted about 10%. Will probably use Garfield Refining next.
Jim

[berettafan]

Originally Posted by NICKG

ha! ever see the ad with gary coleman? if you freeze the frame and read the terms..they charge like 125% interest! and there ia a huge preterm payoff penalty!
People who do those things deserve what they get...same with the gold kit...idiots.

you know who part of the target audience is for this ****?

Old people.

Old people who fought and suffered through WWII.

Old people who worked in unsafe factories so our parents could have a good home and a vacation every other year.

Old people who gradually lose their minds thanks to terrible diseases that we can't yet cure.



The attitude of 'if they are dumb enough to do it they deserve it' is bull****.

yup z-man, i said bull****.

[berettafan]

We let this crap fester and we are rewarding scheisters for taking advantage of the old and foolish. Yes a fool and his money are soon parted but that don't make the 'parter' any less guilty of taking advantage of someone.

Disgusting how 'Okay' this is today. Zero respect for human beings is what it is.

[notfarnow]

Originally Posted by berettafan

you know who part of the target audience is for this ****?

Old people.

Old people who fought and suffered through WWII.

Old people who worked in unsafe factories so our parents could have a good home and a vacation every other year.

Old people who gradually lose their minds thanks to terrible diseases that we can't yet cure.



The attitude of 'if they are dumb enough to do it they deserve it' is bull****.

yup z-man, i said bull****.

I agree 100%. There is a whole industry dedicated to fleecing the elderly as they lose their faculties. There is a real "sweet spot", when they stop being cynical enough but before the family can get control of things. That is when the money starts to slip away FAST, as their name, phone number and mailing address is sold from one scheister to another. Next thing, they are paying "taxes" on a $1M prize payout before they can collect their winnings, buying junk investments... you name it.

My grandmother was a tighfisted skinflint until she was ~80. Then we noticed she was gunning for Ed McMahons big payout... then "winning prizes". By the time my uncle could get control of her finances, they had wiped her out. Her name, number and address had been sold and resold to the worst scammers imaginable.

Predatory. Even if they operate relatively clean, I wonder what they do with their client info. Who do they sell it to? That's the gold.

[Rick Lee]

Old people are just as repsonsible for their affairs as you and I are. Just because they might be taken in by some scam is no reason to ban businesses that others might find useful. Maybe we should get rid of reverse mortgages too, just in case an old person gets one and doesn't understand what they're signing.

[Rot 911]

Originally Posted by Rick Lee

Old people are just as repsonsible for their affairs as you and I are. Just because they might be taken in by some scam is no reason to ban businesses that others might find useful. Maybe we should get rid of reverse mortgages too, just in case an old person gets one and doesn't understand what they're signing.

Is a child responsible in the same way? Because that is what some old people become. The are scared, unsure and easily swayed. Who in the Z-Man would find this type of business useful?

[Rick Lee]

Originally Posted by Kurt V

Is a child responsible in the same way? Because that is what some old people become. The are scared, unsure and easily swayed. Who in the Z-Man would find this type of business useful?

Then we need to yank all their drivers licenses, ban them from buying cars and assign POA to their younger kin, not let anyone over say 80 make any transaction over $200 without someone else's permission. What rights should they be allowed to keep? Vote? Get real.

[notfarnow]

Originally Posted by Kurt V

Who in the Z-Man would find this type of business useful?

I love how language evolves!