Money for Gold

Money for Gold

Buying and selling gold is a hot trend these days. If you don’t hear about it on the radio:

“Sell your gold and earn cash!” or “This weekend only sell your scrap gold!” You may hear about gold selling parties.

Recently, I decided to cash in on this trend. I gathered up my gold bracelets with their useless clasps, wearable bracelets I hadn’t worn in over eight years, and a few gold stud earrings and headed out to make some money.

I had one location in mind. It was a little shack in a shopping plaza that had been the location for several other businesses. However, prior to pulling up to it, I thought, If they cannot afford a better building, they might not be able to give me the best deal for my scrap gold. (Once I arrived at the store, a sign revealed they had, in fact, “Moved to a new location.”)

I remembered a sign I’d seen on a popular road in front of an upscale jewelry store. It read simply: “WE BUY GOLD!” This jewelry store had recently moved from a nice location to a new shopping center. Also, this store was fresh in my mind because the owners had recently advertised in a local magazine about the “hot” gold market.

I took my scrap gold inside and asked the receptionist how the buying and selling of gold worked in their store. She looked at my gold, told me the owner weighed it on the spot and told you its value. Before she sent for the owner, she concluded that I must not wear yellow gold anymore since I was selling “such a nice tennis bracelet,” and she sent for him.

When he arrived, he looked over my pieces, took the bracelets but not earrings, and weighed them. He told me the weight of my gold and offered me $210 for my “scrap gold.” I said, “I’ll take it!”

Then I remembered the somewhat sentimental value of one of the bracelets, which was worth $20 to him. I decided to keep the gold bracelet with hearts and take the $180 in cash.

He copied my driver’s license onto a form, and I signed off on our transaction.

Overall, selling my gold was quick and easy. When I come across some more scrap gold in my house, I may attend one of those gold selling parties and hope to make at least as much as I did at the jewelry store.