Pendants bought for $175 drew mail-in offers as low as $7.60.
Consumer Reports bought 24 identical gold pendants and chains at $175 each and sent them to Cash4Gold.com and its competitors. Each held about $70 of gold at a price above $900 an ounce. Cash4Gold.com quoted $7.60 to $12.72. Pawn shops and jewelry stores quoted $25 to $50.
The gold was worth about nine times the lowest offer.
Read the source