The Game Of Throw Away Gold
I’m positive you’ve seen the commercials all over television, the “Cash 4 Gold” commercials where the business offers you money for once used or unwanted gold “trash”.
In actuality, you’re receiving pennies on the dollar for what was paid for the gold for the reason that the throw away value for the gold is insignificant, then the buyer takes his part from what he pays you.
Whatever the actuality of peddling gold for scrap prices, the business is booming and many jewelry stores are cashing in on the fad. The trend has caused enlarged competition in the area and in view of the fact that gold has reached and hovered around $1000 an ounce, it has grown to be a very lucrative industry for gold buyers.
It has developed into something so popular that a number of jewelry stores have been holding gold selling parties and certain websites are able to publicize during the Superbowl.
One seller, Richard Stalter, has owned a jeweler, South Side Jewelers & More, for 19 years and now there is new rivalry for him also.
“I used to be the only one down here that did that,” said Stalter, whose business model has always been for the most part based on generating most of its revenue from acquiring gold to sell for scrap. “Now, I have three rivals.”
Selling any gold that you may have in your home could be a potentially disastrous situation. I for myself don’t trust anyone that I have to mail my valuables to then anticipate them to mail me a check. That is too much faith in a company or person that I don’t know. I would rather go to a jewelry store to sell any discarded jewelry.
I don’t believe I’m on your own in that.
I have noticed a huge jump in the amount of commercials for gold buyers and jewelry retailers that are accepting gold from clientele as scrap. I know the jump in price is a huge enticement for more and more people to get out there and try to sell their gold, but I would imagine that more people would have some sort of schmaltzy value associated with their jewelry than what the scrappers are ready to give them for it.
However, I do suppose if times are rough enough then most individuals will do whatever they have to to keep food on the table, and there’s nothing wrong with that, but if you are at the point where you are going to sell your valuables, please do some investigation first.
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