In 2009, CashMyGold.co.uk hired Dale Winton to advertise their gold buying service. Three years on, and the company behind CashMyGold (Bullion Buying Limited) is to be struck off of companies house.
Christopher Lyons and Justin Prichard, who jointly ran the business, have been removed as directors.
Bullion Buying Limited which was incorporated in July 2009, is still yet to file any accounts. No doubt, the company will be subject so substantial late filing penalties from HMRC and the directors could face prosecution.
CashMyGold Worst Paying Gold Buyers
In the years of trading, CashMyGold had a notorious reputation for being the worst paying cash for gold company in the country.
An undercover Which? investigation found that CashMyGold (Bullion Buying Limited) offered the lowest cash amount for sample items. Having purchased 6 identical items of jewellery with a retail value of £729, cashmygold.co.uk offered the lowest amount of only £38.57. A measly 6% of the gold’s retail price.
Bullion Buying Limited (CashMyGold) are also subject to an Advertising Standards Agency (ASA) adjudication. No further action was taken because CashMyGold withdrew their misleading advertising. Unfortunately many people already had sent in their jewellery to them.
Gold Selling Message
There are literally hundreds of gold buyers in the country who are less than honest in their appraisals, or with their tax paying! Beware of ALL ‘cash for gold’ companies who fail to clearly state the price they pay. If you see an online calculator, double check the small print, as many companies do not pay the amount that they quote. Many companies put hidden fees in their terms and conditions (small print) which you may not be aware of.
Goldealers.co.uk are more than happy for you to send your jewellery in for a free of charge appraisal. The prices which we pay are set as a percentage of the london bullion market fix for the day. At time of publishing, Goldealers.co.uk are paying 95% of the London Gold Fixing published AM fix.