Is Cash4Gold a scam?

If it is just sitting in a drawer and you are never going to use it again, then I would cash it the quickest and most convenient way. It is much easier to to mail it off in an envelope then drive down to a local pawn shop.

They do send your gold back after you have persisted however they do under quote as they can due to the economies of scale.

Most independent jewellers will buy gold from you and will give you much better rates better than pawnbrokers as they are not in the business of loaning money for gold but actually making it so they use it to melt down and make new pieces. I know this because my best friend and her family are in the business. Plus you get the money there and then before you hand over your gold. The price of gold has gone up considerably lately so now is the best time to sell.

Good luck and I hope this helps

I would say probably so:
http://consumerist.com/2010/01/congressman-demands-ftc-probe-of-cash4gold.html

A pawn shop might be the way to go, but if possible, have the jewelry appraised first by a qualified appraiser. You can find them affiliated with most of the major jewelry store chains if you ask there.

Since you said you don't really need the jewelry, I would suggest you go to your local jeweler and ask their advice on getting it appraised with the aim of selling it rather than pawning it. They may be able to appraise your jewelry themselves (at a price) if they have a credential appraiser on staff or refer you to one who can.

On whether Cash4Gold are a scam or not, I don't know. That's not a word I would use flippantly. If you've heard it's impossible to get your gold back and think you will want to do so after all, isn't that enough of a reason to not send it in? Better to sell it and be done with it or not send it in at all if you're concerned that could be true.

You can find more information on how to sell your old gold jewelry without being taken for a ride here.

http://articles.moneycentral.msn.com/SmartSpending/ConsumerActionGuide/HowToSellYourOldGoldJewelry.aspx

You can send it it but be armed with what the current price of gold is. It is around $1130 an oz today. After you mail it in they will call you or email you and say they will give you X. ask how many oz's and then do the math. When you do this with them on the phone they will very quickly give you a much better rate automatically. If it is still too far away from market value then tell them to send it back. They will probally go up in price to close to market value once you confront them with facts. Most people just take the money without being armed with information which makes the entire business like most pawn businesses of check to cash businesses a complete rip off of those who need the money most. It is a shame. But if you know how much your stuff is worth you should be ok.