As Gold Prices Rise, Cash for Gold Scams Launches New Review Section

​CashforGoldScams.com. With high gold prices comes more people trying to buy your gold. And the more people trying to rip you off for it. Complaints skyrocketed during the gold boom at the end of the last decade, and as gold prices recover, CashforGoldScams.com aims to provide an easily accessible place for people to share information about untrustworthy gold buyers.

Gold reached a peak of $1905/ounce back in 2011 before crashing down to a low of $1060/ounce in December of 2015. Since then, it has gradually recovered and selling it is once again becoming a popular way to get quick cash.

Today, trading at just over $1250/ounce, gold has somewhat regained its luster. Both offline gold buying shops and online cash for gold services have become popular again. That makes consumer watchdogs and business reviews as important as ever.

“We have added a new section to our website specifically for consumers to report companies that are either less than honest or a downright scam,” explained Nelson Hamwey, manager of CashforGoldScams.com.

Users can go on CashforGoldScams.com and use the “submit a scam” form to detail their experience with a gold or jewelry buying company. It doesn’t have to be an online cash for gold company either – they accept submissions from both online and offline companies.

“On our website, there’s no advertising from cash for gold companies and we don’t accept any payments from companies that are reviewed or may be reviewed. Unlike many local business review companies, we publish all the reasonable submissions we receive,” continued Hamwey.

CashforGoldScams.com published several new scams each month from 2008-2011. That number has since dropped. Now, rather than e-mailing reports, users can submit them directly. All reviews and reports are public and can be viewed on their website.

To submit a gold scam, you can visit www.CashforGoldScams.com and use their “Submit a Scam” service.