Cash4Gold - Always thought this was a scam...

Can you really turn junk jewelry into cold cash? | Productopia:

"Earlier this year, Consumerist conducted an extensive investigation into the business practices of Cash4Gold, and what they found was rather alarming. According to its advertising, Cash4Gold promises 'top dollar' to people who send in their gold in exchange for cash. In a test carried out with the help of mystery shoppers from sister organization, Consumer Reports, identical gold pendants and chains were sent to Cash4Gold and some of its competitors. The team calculated the raw value of the jewelry - about $70 for each set of items - based on the market price at the time. Consumerist reported that 'Cash4Gold sent back checks ranging from $7.60 to $12.72 (or 11% to 18% of melt value), the lowest amounts of any firm.'"