INSTANT SURVIVAL TIP: Cash From Gold

Posted in: Budget Tips, Instant Survival Tips

Did you know that one of the latest trends in home parties is a Gold Party? Get this. You invite your girlfriends over for a night of socializing and making money. Everyone brings unwanted gold jewelry and gold coins, and a ”certified technician” assesses everyone’s gold and pays out cash on the spot. There are similar TV commercials that make some pretty impressive claims of the cash they’ll pay for your unwanted gold. What will they think of next?

These new trends may not be the best deal, though, if you’re looking to sell your gold. Apparently, it pays to shop around. A recent news program did an investigation, and here’s what they found. Using three identical gold rings appraised at $56 in gold value, they took one to a local gold dealership, one to a local pawn shop, and the third was sent to one of the mail-in companies. The pawn shop paid $53. The gold dealership paid $37. And the famous mail-in company? A mere $8.27.

(1) Reader Comment

Susan
June 28, 2009 at 3:32 pm

I did a lot of shopping around before selling my gold and silver and found a huge difference also. Personally, I would avoid the “gold parties” altogether. The best alternative I found was the Silver and Gold Exchange. They not only paid MUCH more than anyone else (probably much more than anyone in this article) but they also are the only place I found that posts the prices they pay on a live chart right on their website at http://SilverAndGoldExchange.com

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