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CashforGoldUSA: Is this a legit gold buyer? [2024 reviews]

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If you are looking to bring in extra cash, selling gold jewelry, diamonds, watches, coins, or gold dental scrap can be a good way to make money, and CashforGoldUSA is one of the first online gold buyers that pops up on a Google search in a sea of options.

This post outlines why we think CashforGoldUSA is a quality company, based on company history, customer reviews, ratings by third-party agencies, overall services offered — and especially speed to payment.

Is CashforGoldUSA legit?

One mom’s experience selling to CashforGoldUSA

How long does CashforGoldUSA take?

How much does Cash for Gold USA pay?

How does Cash for Gold USA work?

What does CashforGoldUSA buy?

Cash for Gold USA reviews

How does Cash for Gold compare with other online gold buyers?

Pros of CashforGoldUSA

Cons of CashforGoldUSA

CJ Environmental history

Other places to sell gold online


Is CashforGoldUSA legit?

While it’s understandable that you might feel nervous about selling your gold online, CashforGoldUSA is a solid and legitimate business:

  • CashforGoldUSA pays within 24 hours
  • Better Business Bureau A+ rating
  • “Price beat” guarantee with written offer from another buyer
  • Free return guarantee
  • Insured up to $100,000
  • Family business with decades of history
  • Buys all weight and karat of gold, as well as all diamonds and silver
  • 10% bonus if you ship within 7 days

One mom’s experience selling to CashforGoldUSA:

Melinda Burris is a mom of two from North Carolina who is a freelance writer and digital marketing instructor at the University of North Carolina at Chapel Hill.

As part of an initiative to compare online and in-person gold buyers, we asked Melinda to purchase six of the same 7.5-inch Italian 10k gold bracelets from Macy’s, which the site claimed originally retailed for $600 each but were purchased on sale for $200 each, plus tax. Her assignment was to sell the bracelets to various online and local gold buyers.

10k gold bracelet from Macy's.

This is Melinda’s experience selling to CashforGold: 


On Wednesday, March 13, 2024 I went on CashforGold’s website and completed a simple form with my mailing and contact information to request one of CashforGold’s SafePaks to send in my jewelry for appraisal. (The SafePak is their term for the packaging envelope they send you with a pre-printed, no postage required label. It contains a small plastic bag to put your valuables in and self-seals.)

The SafePak arrived in three business days on March 18 via USPS. I also received a text message from my assigned representative immediately after requesting the SafePak to let me know it was on its way. They provided a tracking link and assured me the package was insured. 

CashforGold kept me apprised of every step in the process. I followed the detailed instructions they included and mailed the SafePak out on Thursday March 18, the day I received it. I sent it via the pre-labeled USPS SafePak I received. You can also request a FedEx overnight label which you can print at home.

On March 26, the following Friday, I received a message from my rep at CashForGold stating they had received my SafePak with a note that my item would be appraised and I would receive an offer within one business day. 

On March 27, I received an offer of $15.34, when the price of gold was $2,196.20 per ounce. Based on the weight of the bracelet (2.1 grams) and its 10k purity, the total spot price for my bracelet would have been $61.79. CashforGold’s initial offer was about 26% of the spot gold price. 

Offer from CashforGoldUSA for 10k gold bracelet.

Considering the bracelet was brand new and therefore in excellent condition, I texted my representative and let her know I wanted to discuss the offer, since it seemed very low. 

When I did not receive a reply within one business day, I called CashForGoldUSA on March 29 and asked to speak to a representative. I told the rep on the phone (who was not my assigned rep) that the item was nearly brand new, and I had purchased it for $200, so I couldn’t understand why I was getting such a low offer. 

She explained, “We aren’t buying it for its retail value; we’re buying it for its precious metal value.” I asked her what the difference was. She replied that when you purchase gold jewelry at retail, the seller can charge whatever they want or whatever the consumer is willing to pay. 

Meanwhile, like all gold buyers, CashForGoldUSA isn’t interested in reselling the jewelry. They are buying it based on spot price, which they plan to resell to a refinery which will melt it down to 24-karat, and make a profit based on the market price of the gold.

The representative was courteous and informative but unwilling to negotiate on their offer. Since I had sent the same item to other online gold and jewelry buyers, I did not immediately accept their offer. 

Instead, I waited to see if I would receive a higher offer elsewhere I could leverage to get them to negotiate. I received an offer from TheAlloyMarket on March 29 for $41.49. That same day, my assigned representative from CashForGoldUSA texted me: 

Hello, 

We apologize that you are unhappy with the offer amount. 

We take pride in our customer service and want to work with you to get the highest possible payment.

We’d like to get a sense of what you were expecting for your entire shipment, to see if we can accommodate you. If we are unable to, we will return your items free of charge, as agreed.

I replied telling her that Alloy had just offered me $41.49 for the same piece and asked if she would match it. I also sent her a screenshot showing Alloy’s offer. (NOTE: CashForGoldUSA cannot see photos, including screenshots over text, so she took my word for it that I had the higher offer. Also, all communications with my assigned CashForGoldUSA rep were conducted via text.) 

The customer rep let me know that unfortunately, she could not see images via text. She then asked me to please let her know how much The Alloy Market had offered me. I told her and within a few minutes she replied:

Hello,

I spoke with my supervisor, and he approved a one-time courtesy increase to the requested $41.49. Please confirm that you would like to accept this and how you would like the payment.

CashForGold advertises a 10% bonus on your offer price if you return a coupon that comes with your SafePak within 7 days, which I included in my return package. When I inquired about it, they said the one-time courtesy adjusted price included my 10% bonus.

Payment methods offered were:

  • Physical check through USPS that would arrive in 3-10 business days
  • FedEx Express, which would arrive within 2-3 business days and cost $15
  • FedEx Overnight, which would arrive the next business day (where available) and cost $25
  • PayPal, which has a 3-4% transaction fee. Note: If you accept an offer from them before 3 pm EST and choose PayPal as your payment method, you are promised you will receive your payment within one business day. 

I accepted their offer, chose PayPal, and received payment within two hours.

By negotiating with CashForGoldUSA, I was able to raise their initial offer by 40%.

Based on my experience, here are my thoughts: 

Pros: They offer excellent communication, courteous service, and very speedy payment. 

Cons: Their initial offer was very low. Before I got the better offer from one of their competitors, they were not willing to increase it. 

Original offer: $15.34

Final offer: $41.49

Final payout: $40.29 ($1.24 fee charged for Paypal)

Percentage of spot gold price paid out: 67%

How long does CashforGoldUSA take?

Once you request your free mailer, CashforGold claims the whole process to payment can be completed within three days, if you choose the fastest shipping options and immediately mail in your jewelry.

They offer two shipping options: 

  • USPS, with items in the Safepak insured for up to $1,000
  • FedEx envelope, with items insured up to $5,000

If needed, additional insurance is available when you contact Cash for Gold USA.

Shipping your item to the company will take less than 24 hours via trackable FedEx, CashforGoldUSA claims. However, USPS may take a bit longer — Melinda’s Safepak took three days to arrive to her home and a little over a week for CashforGold to confirm they had received it.

Once your item is received, it will be appraised within 24 hours and you will receive an offer. Melinda did receive an offer the next day after her item was received.

If you accept this offer, CashforGoldUSA will send payment immediately based on your preferred payment method.

Receiving payment via PayPal will be the fastest option, with money deposited in your account immediately, though there is a 3-4% processing fee deducted from your payout.. The following payment options are also available: 

  • Check via First Class USPS mail (no fee)
  • Print-at-home-check ($5 fee)
  • Check via FedEx Express (2-3 days, $15 shipping fee)
  • Check via FedEx Overnight (next day, $25 shipping fee)
  • Bank wire for payments over $30,000 (no fee)

CashforGold offers a 10% bonus if you ship within 7 days. However, if you are able to negotiate a higher price or ask CashforGold to match a competitor’s offer, this bonus may be wrapped into that final payout, not necessarily paid on top of it (this was Melinda’s experience).

How much does Cash for Gold USA pay?

Ultimately, how much you receive for your gold from any gold buyer will depend on the weight and purity of the gold, as well as the current market price of the metal.

Based on our recent experience selling gold to a number of online and in-person gold buyers, you can expect to make anywhere from 64% to 80% of the spot value of your gold, though you may be able to negotiate a higher price depending on the buyer. 

CashforGoldUSA offers a price-beat guarantee — if you have a written, higher offer for you gold, silver or diamond, they promise to beat it. Though CashforGold’s initial offer to Melinda was quite low, they were willing to match the competitor’s price, even without seeing proof of the offer amount, though it was requested.

As of , the spot gold value in the United States was trading at $ per ounce, or $ per gram.

Here are some recent sales at CashforGoldUSA, including a gold chain and charms:

10k gold bracelet that sold for $430 on CashforGoldUSA.
Recent sales of rings and charms sold to CashforGoldUSA.

How does Cash for Gold USA work?

There are more details below, but in short, this is how CashforGoldUSA works:

  1. Go to CashforGoldUSA.com, enter your name, address, phone number and preferred shipping method.
  2. Provide photos and a brief description of your items
  3. FedEx or USPS mailer may arrive as soon as the next day, though shipping speeds vary — or print a label at home immediately
  4. Send in your item, and get an offer within 24 hours of receipt
  5. If you accept, get paid immediately by your choice of:
  • Direct deposit
  • PayPal
  • Virtual Visa credit card
  • Print-at-home check
  • Check mailed via overnight FedEx
  • Check sent via USPS First Class mail

CashforGoldUSA buys gold online from people looking to sell old gold jewelry, coins, dental scrap, as well as watches, Rolex, and diamonds. They make money by buying the gold at a discount to the scrap value of the metal. They then melt these objects down and sell at a profit.

Get an idea of the value of your item before you send it in for appraisal. Just enter the weight and karat of gold into CashforGoldUSA's gold calculator:

CashforGoldUSA informational gold calculator
CashforGoldUSA informational gold calculator

Note that this is just for informational purposes, and not a final offer. The only way to get an accurate offer is to send your item in for appraisal.

What does CashforGoldUSA buy?

CashforGoldUSA buys gold in any shape, form, or quantity, including:

The company accepts all karats of gold, including 8k, 9k, 10k, 14k, 15k, 18k, 22k, and 24k gold. 

CashforSilverUSA

CashforSilverUSA is a sister site of CashforGoldUSA — they share the same family-run parent company, C.J. Environmental, which enjoys an A+ Better Business Bureau rating.

CashforSilver has a 4.4 out of 5-star rating on TrustPilot and 78% of its reviews are 5 stars. They offer the same 24-hour payment and money-back guarantees. 

Learn about top silver buyers.

Diamonds USA

Diamonds USA (formerly CashforDiamondsUSA), is also a C.J. Environmental company, with the same BBB A+ rating, and 24-hour payment, though specializing in paying high prices for engagement rings, diamond jewelry, tennis bracelets, necklaces, earrings, tennis bracelets and loose and lab-grown diamonds.

Learn about top diamond buyers.

Cash for Gold USA reviews

Founded in 2005, CashforGoldUSA has paid out more than $150 million dollars to people selling their gold, silver, diamonds and jewelry.

As a result of our personal experience  selling to CashforGold and reading through reviews, I can say that CashforGoldUSA.com stands out from other online gold buyers in a number of ways:

  • Buys 100% of all weight and karat of gold
  • 100% free shipping: Fill out a form requesting an appraisal of your item, and they will send you a prepaid mailer through either FedEx or USPS (your choice), which you can then track, door-to-door.
  • Insure all shipments: All Fedex are automatically insured up to $5,000 and USPS for $1,000, with additional insurance available for items valued up to $100,000 through Jewelers Mutual Insurance. If something happens to your gold during transit, you’ll be compensated for it.
  • Insured facility: Your item is insured up to $100,000 by Lloyds of London while held.
  • Risk-free returns: If you don’t like the amount they offer, you’ll receive your items back at no cost, trackable through FedEx or USPS
  • 10% bonus if you ship within 7 days
  • General positive online reputation with more than 1,000 reviews across multiple platforms, decades of business history and features that appeal to the average gold seller

CashforGoldUSA BBB rating and reviews

If you were to search for CashforGoldUSA on the Better Business Bureau website, you would learn that CashforGoldUSA and its sister websites are run by CJ Environmental, Inc., a metal refining company that has been in business since 2005 and accredited since 2020.

You’d also find that CJ Environmental has an A+ rating with the bureau. The profile also shows that the company has an average of 3.33 stars out of 5, based on an average of 30 customer reviews. 

At the time of this review, it appears CJ Environmental replied to and addressed all of the complaints filed on the BBB site.1

CashforGoldUSA TrustPilot reviews

CashforGoldUSA has more than 550 customer reviews on Trustpilot, averaging 4.2/5 as of June 2024. Common complaints include too-low of an offer.

Most are very positive, and highlight the ease of use, professional communication, quick process and payment, and fair price. Negative reviews are from customers who didn't get as high an offer as they expected:

1-star CashforGoldUSA review from May 2024.
5-star CashforGoldUSA review on Trustpilot as of April 2024.
CashforGoldUSA review on Trustpilot from March 2024.

CashforGoldUSA customer reviews

Cash for Gold USA is a reputable online gold buyer that has a 98% approval rating from Shopper Approved, based on 361 reviews. Below are a sampling of customer reviews (the most recent is from December 2023):

CashforGoldUSA review on Shoppers Approved from December 2023.

How does Cash for Gold compare with other online gold buyers?

Here are some of the leading places you can sell your gold online:

Year foundedBBBWhat they buyForms of paymentMinimum time from request to payment
CashforGoldUSA2005A+ (accredited since 2020)All weight and karat of gold, silver and diamondsDirect deposit, PayPal, Virtual Visa credit card, print-at-home check, check mailed via overnight FedEx, check sent via USPS First Class mail5-7 days if you opt for FedEx shipment, more if USPS
The Alloy Market2022A- (accredited since 2023)All weight and karat of gold and silver and diamonds of at least 1 carat — though their site and marketing are heavily focused on goldVenmo, Paypal, ACH/direct deposit or check by mail5-7 days
Abe Mor1964A+ (accredited since 2016)Gold worth at least $500 and diamonds of .5 carats or moreFedEx 3rd day delivery) or via wire transfer~1 week

Pros of CashforGoldUSA

The benefits of selling your gold to CashforGoldUSA include:

  • Ease: Selling your gold is as easy as requesting a mailer, sending your gold in for an appraisal, and accepting an offer.
  • Speed: If you accept their offer, you can be paid in as little as 24 hours depending on the payment method you choose.
  • High pay: CashforGoldUSA guarantees you'll get the best price. However, it may be wise to seek estimates from multiple gold buyers to get CashforGold to match your highest price.
  • If you send in your item within seven days, you can receive a 10% bonus for your gold. 
  • Price match: CashforGoldUSA will match any offer from a competitor, so you know you’ll always get as much money for your gold as possible.
  • Free shipping: CashforGoldUSA will provide a prepaid, insured shipper for you to send in your gold for appraisal, and return your item free of charge if you choose not to sell.
  • Many choices for immediate payment:
    • Direct deposit
    • PayPal
    • Virtual Visa credit card
    • Print-at-home check
    • Check mailed via overnight FedEx
    • Check sent via USPS First Class mail
  • Hassle-free returns: If you decide you don’t want to accept their offer, CashforGoldUSA promises to send your item back without question.
  • Accepts a range of items and accepts all weights and quality of metals and gemstones: From jewelry to coins to dental scrap and Rolexes in any karat or weight. CashforGoldUSA will also accept platinum, silver, palladium, watches and diamonds and gemstones through its sister websites. No minimum weight or value.
  • Feel good about recycling your gold and silver — which has a much lower environmental impact than mining and smelting.

Get started with CashforGoldUSA.com today >>

Cons of CashforGoldUSA

Drawbacks of CashforGoldUSA include:

  • It’s not ideal for collectible coins, or, in some cases, branded jewelry: If you have gold coins that have value as collectible or high-end designer jewelry, such as Tiffany, Cartier, Bvlgari, David Yurman, Van Cleef & Arpels, or Harry Winston, we recommend Abe Mor or Worthy.
  • Your offer is based on a single evaluation: CashforGoldUSA appraises each item as it is received and uses this one evaluation to calculate an offer. Take it or leave it. That said, feel free to negotiate, or get your item returned for free.

CJ Environmental history

CashforGoldUSA.com, CashforSilverUSA.com, and CashforDiamondsUSA.com are owned by CJ Environmental, which was founded by Norm Schneider in the basement of the Schneider family home. Norm still owns and operates the company in Foxboro, Massachusetts with his sons Cory, Stephen and Barry:

Image of Cash for Gold USA parent company CJ Environmental's headquarters.

“By partnering with a refinery, we can offer the public metal and diamond rates typically reserved for private companies,” Norm told me. Within three years of opening, the company was named to the INC 500, as one of the fastest-growing private companies in the United States.

Aside from top rates, customer service, Norm Schneider says, is the other differentiator for CashforGold and DiamondUSA customers.

“We understand the delicate nature of every transaction — clients trust us with their valuables and family heirlooms, and we recognize that is a big responsibility,” Norm says.

Each customer who gets a mailer receives a tracking number so they can track their shipment through SMS messaging and/or email based on preference. You get an alert when your shipment is scanned by the carrier, when it is scheduled to arrive and when Cash for Gold's shipping department has received it.

“We constantly invite clients to ask questions, and we work nights and weekends to ensure queries are answered in a timely fashion by one of our in-house jewelry experts,” Norm says.

“Some clients have lots of questions, some don't have any. Either way, we are patient and never pressure anyone to sell. We have thousands of repeat clients, some who have been working with us for over a decade.”

Other places to sell gold online

Selling your gold can be a great way to reach your financial goals, whatever they are, and CashforGoldUSA is an excellent option to help.

This post outlines top gold buyers to consider, and you may also look into local pawn shops for immediate cash, as well as antique or consignment stores that may be interested in gold jewelry or coins.

Also, here is specific information on how to sell your jewelry.


SOURCES

  1. CJ Environmental Better Business Bureau review https://www.bbb.org/us/ma/canton/profile/precious-metal-dealers/cj-environmental-inc-0021-32441
Is Cash for Gold USA legit?

While it’s understandable that you might feel nervous about selling your gold online, CashforGoldUSA is a completely legitimate, A+ BBB rated business started in 2005.

How much does Cash for Gold USA pay?

Ultimately, how much you receive for your gold will depend on the weight and purity of the gold, as well as the market price of the metal. That said, CashforGoldUSA guarantees that they will match any offer you have received from a competitor.

What does CashforGoldUSA buy?

CashforGoldUSA buys gold in any shape, form, or quantity, including: broken gold jewelry, gold coins, gold ingots, gold dental scrap, and more.

How does Cash for Gold USA pay?

CashforGoldUSA pays within 24 hours by paper, mailed check, Paypal or ACH bank wire — your choice.

Our CashforGoldUSA ratings:
  • Experience for sellers
  • Sellers' fees
  • Value for sellers
  • Customer service
4.7

5 Comments

I requested an appraisal kit. The kit is a Fed Ex envelope. Do not be fooled by the promises of safety and insurance. I made a huge mistake in trusting them. I put my jewelry in the envelope and took it to the Fed Ex box in my local Staples as there is no brick and mortar Fed Ex in my town. I dropped it off in the box. When I did not hear for several days I checked with Cash for Gold. They told me nothing has been registered by Fed Ex. They tell me to call Fed Ex. Fed Ex will not talk to me, they say Cash for Gold needs to call them. Cash for Gold will not call them. I called Fed Ex and begged for someone to please just go check the box to see if maybe the envelope got stuck somewhere. They will not do that unless Cash for Gold calls them. Cash for Gold has refused several times to even call Fed Ex to ask them to check the box.
So right now, I am out several thousand dollars worth of jewelry with no one taking any responsibility to even look in a drop off box.
Please do not make the same very expensive mistake I made. Do not trust your valuables to them.

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