Shocking right? As silly as their commercials are unfortunately there are a ton of people who fall for the gimmick and send in their jewelry, only to be totally disappointed when their check finally arrives.
I found this article today on ShoeMoney.com where someone claiming to be an ex-employee talks about the entire operation.
It didn't surprise me at all that they were burning people on the value of their jewelry, but what did surprise me is by how much. Pretty ballsy operation (assuming of course that the claims made are true).
I still find it strange that these sort of companies are able to continue doing business. I guess they aren't breaking any laws and if their agreement is strong enough, there is no real action that can be taken against them.
So on second thought, maybe you should hold on to that class ring for a while...