With the economy in crisis and gold flirting with record high prices, many people are selling gold for much-needed cash.

If you’ve watched late night TV lately, you’ve probably heard about a company named Cash4Gold.

James Knife of Happy Valley watched the infomercial recently. He was disabled in a car accident decades ago and lives on a small fixed income. He desperately needed cash and says Cash4Gold gave him hope.

Knife said, “I was raising my granddaughter at the time and I needed it to feed her.”

Knife's neighbor Kevin George also needed cash for his 5-year-old son Austin, who he raises on a fixed income.

“I gathered up my stuff. Stuff that I’ve had for years so my son could have a Christmas,” said George.

Both men claim they put their family treasures - like a diamond ring, gold bracelet and necklace that once belonged to Knife’s grandmother - into the companies return envelope.

They said they never heard back from the company and never received a check.

We watched as George called Cash4Gold he asked, “Where is my money, can you tell me? I sent you my gold.”

Portland-based gold coin expert Doug Winter said, “It's almost primeval the love people have for gold.” Winter wrote one of his books, dealers around the country use to determine a coin's value.

“The whole idea of sending someone you don't know, something of value with no registration or insurance just doesn't strike me as being a wonderfully safe thing to do, said Winter.

He said the best way to sell jewelry or scrap gold is to find out your gold's caret value. It’s etched on all gold jewelry made in America. Then, determine the exact weight of the gold and talk to reputable jewelers in person.

KGW's Wayne Havrelly asked George, “Looking back, do you ask yourself, 'Why did I send valuable items in the mail with no registration or insurance?'” George replied, “Yes, but like I said, I did it because I wanted my son to have a good Christmas.”

According to the Better Business Bureau in South Florida where Cash4Gold is based, “there appears to be a serious problem with packages sent to cash for gold not being received." The BBB gives Cash4Gold a D- Rating. The Oregon Attorney General’s office said there were no unresolved complaints in our state.

A spokesman for Cash4Gold said the company does not have any record of Kevin George sending gold or requesting a packet. They said James Knife's shipment failed their gold testing and was thrown away after Knife failed to respond to a letter, which Knife said he never received.

The company's CEO, Jeff Aronson said Cash4Gold provides an easy, convenient way to sell gold, but adds that consumers need to know their options. Aronson said, I've been through this a thousand times on the price issue. I offer a service business. Right on the front of the web site, I make it very clear we're not always the best option.”

Aronson said his company has made 850,000 successful transactions in it's two years of business. He added that all gold received is photographed and tested. Then, checks are cut and they are usually made out for amounts between 20 and 80 percent of the current spot price of gold.

Company officials said customers always have the option of adding insurance or sending packages by registered mail.

Kevin George and James Knife didn't go that route and they both wish they had.