Monday, October 5, 2009

Cash4Gold Is a Gold Mine and Now Everybody Knows

They had a nice business until going too high-profile.

Through late night television ads, Cash4Gold urges people to send in their gold pieces in exchange for a check. If customers don't like the amount, they can send the check back to the company within 12 days for a full return.

The firm, reportedly made $30 million in profit on $90 million of revenue in 2008, its second year of operations. Sales are supposed to hit $160 million this year, NyPo reports.

While Madison Avenue had written off the company as a bargain-basement advertiser, Cash4Gold shook up the marketing ranks by jumping into the Super Bowl at the last minute. The ad was a hit, but it contributed to growing scrutiny of the company's business practices and gave rise to a host of competitors -- such as Cash for Gold USA and Dollars4Gold, NyPo reports.

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