AugustusGold.com is another internet cash for gold site. They promise 24 hour processing times and payment and complete customer satisfaction. I was foolish enough to send them some scrap gold jewelry in November. Since then I have received nothing from them but the email quoted below. They do not answer the phones. The mailing address is a UPS store, not a physical business. I think that these guys are a straight up scam. I would stay far away.


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From: R Holley <[email protected]>
Subject: Your Payment from Augustus Gold...
Date: December 1, 2009 1:53:15 PM EST
To: Admin AugustusGold <[email protected]>

Dear Valued Client,

Thank you for your continued patience while we work through the financial crisis caused last month when one of our largest bullion dealers defaulted on their payment to us. Our General Counsel has advised us to inform all of our clients of the situation, and to insure you we will resolve all of our accounts payable by any and all means necessary. We tried to work around their promises to pay until the news they offered us this week without having to offer such an explanation, but we were compelled to ask the attorneys handling this matter how to mitigate this with our clients to help lessen tensions. While the status of their company's viability is in question, we want to make it clear to our customers that Augustus Gold will pay all of our customers in full as quickly as possible. We do anticipate having all of these matters resolved before Christmas, and hope to have payments in the hands of all of our clients in time for the Holiday. In order to do this we have furloughed hours, deferred payments to our executives, and notified our own creditors to expect slow payments from us until it is resolved. All clients whose payments are under $2, 500 should expect their payments first, and clients whose payments are in excess of $2, 500 will be contacted individually about payment options.

Our voicemail system is full, and we have missed messages from many of you. We apologize for the delays in getting back with any of you, but since we cut back employees' hours, it has impossible to handle the call volume associated with this issue. Please accept our apologies regarding any inconveniences this has caused you. We are working hard to make this a Merry Christmas for all.


Best regards,

Ray Holley
Co-Founder
Augustus Gold & Silver
866-531-4440
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