A Fool’s Gold

Posted on February 3rd, 2009 by in Market Observations

“Send me your gold in an envelope, and I will send you a check back for some unspecified amount of money.” A keen citizen might be wary of such a transaction, but you might be surprised what a mildly entertaining superbowl ad can get you.

Cash4Gold has been at this for awhile. Although they claim to offer you your gold back if you aren’t satisfied, the details can be a little bit more complicated than that. It’s no surprise then, that several sites  have sprung up warning consumers to stay away from the company. A former employee has even told all. The employee suggests you will do much better by walking into the nearest pawnshop.

Of course, going back a century or so, if you offered someone money for their gold they would be confused. “But gold is money!” they would protest. Not so, with our mindset today. Cash4Gold claims to give you “cold hard cash” for your “unwanted gold.”

I admit that my mindset is so reactionary that I’m always pleased to buy anything for pieces of paper with numbers written on them. It just always seems like a good deal – little pieces of paper in exchange for everything that I need. Let’s hope it never stops…

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  1. SpinDoctor said on February 3rd, 2009 at 5:48 pm

    You would have thought people would want to hold on to all the gold they can in the present climate. Of course there may not be much choice for many as they try and raise money wherever they can.

    Reply
  2. John said on February 4th, 2009 at 12:16 pm

    @SpinDoctor:

    SpinDoctor…

    Rule #1….People are stupid.

    I bet 9 out of 10 people would take $100 of cash over $100 of gold if given the opportunity. Maybe not, but just my opinion.

    Reply
  3. rt613 said on February 6th, 2009 at 10:13 am

    @John:
    I would glady take physical gold if there’re any.. Anyone wants to trade their gold for my papers..?

    Reply
  4. John said on February 6th, 2009 at 12:07 pm

    @rt613:
    I would of course too, but I think the majority of people would take the paper. Hense the burst of companies buying peoples’ gold…

    Reply

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