After they bought the teeth, the woman told them that she went to a dental college and had some of her gold-crowned teeth extracted in order to sell them for money. With the floundering economy, these easy money-making ideas seem increasingly tempting to some people, Mark said. Once the customer complained, the company sent the ring back.
With the floundering economy, these easy money-making ideas seem increasingly tempting to some people, Mark said. But right now, any cash is good cash for some customers. They only get paid for the solid gold. Vargas points to numerous Web sites and complaint boards online with outraged former customers. Not just from bitter divorces, but from happily married people who need the cash. The gold is melted, which eliminates all of the other metals, and leaves a solid gold bar. For out-of-style items, customers can redeem more value from them at The Gold Digger because they pay based on gold content. The Gutierrezes said their customers get the money their items are worth. The refinery also takes a 2 percent cut of the value, and then they have to pay taxes on the remaining gold. Even with the good price he could give the woman, he told her that it would probably not compare to the sentimental value of the ring. They might even suggest you use Craigslist to try to find a better price, but they will never refer you to Cash4Gold. Every couple of months, they take the gold to a refinery in San Francisco. Last month they bought a gold bracelet with a little over an ounce of gold in it. But sales on Craigslist may not be easy in this economy, he said. He admits most people know to stay away from suspicious dealings, but he still has harsh words for companies like Cash4Gold. Mark tries to discourage people from selling family heirlooms. They will melt the teeth along with other un-saleable gold items. They have to factor in the amount of other metals in each piece of gold they buy and subtract that from the price they pay the customer. He was on his way to the post office and wanted to see if he could sell any of his items before he sent them away. Vargas said he suspects their target audience is elderly people. Mark picked-up one of the tiny gold crowns from the pile of jewelry. One supposed former customer on complaintsboard. But most people who sell their rings are just searching for money to pay their bills. After they bought the teeth, the woman told them that she went to a dental college and had some of her gold-crowned teeth extracted in order to sell them for money. Resalable items earn more money for both parties than refining pieces. Working in the jewelry industry, they hear a lot of stories about gold scams. Not just anyone can take gold to a refinery— they have a license.
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