Things to Keep in Mind if Turning in Gold for Cash : WFMZ-TV 69...

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With the stock market tanking and homes continuing to lose value, some people are turning to gold. Full Story
Realitybound

Philadelphia, PA

#1 Mar 5, 2009
For all you people considering selling your gold to these companies buying it, beware! Gold market price is $940 an ounce; which means around $485 an ounce of 14 Kt gold. Take out the %20 profit for the buyer and $10 melt down fee and you should be getting around $375 an ounce for your jewelry. The news reports will not tell you that because they get advertising money from these companies. If you are getting substantially less than this for your gold, then take it somewhere else.

“Why so SERIOUS? ”

Since: Jan 09

It's hard core up in da woods

#2 Mar 5, 2009
Getting rid of any gold you have is a mistake. You may need it one day in the future to trade for food and services. Gold and silver have always been a medium of trade through out history.
Bill from Coopersburg

Phoenix, AZ

#3 Mar 5, 2009
The first item to remember is that you are about to be ripped off no matter where you go to trade that gold in for cash. Vendors are not doing you any favor, as they are simply giving you perhaps ten cents on the dollar if even that.

Since: Jul 08

Location hidden

#4 Mar 6, 2009
If you have to sell your gold(especially if you have an unwanted wedding set-LOL!)E-Z Money on 4th Street in Bethlehem. The owner is my friend. She is so honest and friendly she wouldn't rip off anyone.

Since: Jul 08

Location hidden

#5 Mar 6, 2009
Max Pain wrote:
Getting rid of any gold you have is a mistake. You may need it one day in the future to trade for food and services. Gold and silver have always been a medium of trade through out history.
You got it Max. The good ole days.....I'm keeping my gold jewelry. It's the only thing of value that I have.(besides my family) I don't have much, but it is all sentimentel too.

However if someone is getting a divorce, it is the ultimate revenge....sell that wedding set that he paid big bucks for. Then go shopping and treat yourself to something you like. LOL!
David

Boyertown, PA

#6 Mar 6, 2009
This might be hard to believe, but sometimes people will sell their gold jewelry only for the weight of the gold. Years ago I remember a antique/collectibles merchant in Zern's Farmers Market bragging about how he ripped off an older woman who brought in gold rings. Gold had jumped at the time and all people could see was the gold and completely disregarded the precious stones that were in the rings. It bothers me to think that older Americans have to sell their possessions in the first place; and, to think about unscrupulous merchants that will take advantage.
Gary

Blakeslee, PA

#8 Mar 6, 2009
I took some rings & things to one of those places with a full page ad & got some quotes. Than I took it and sold it in A local auction & nearly Doubled the money. 5 or 6 different people were bidding on it! HELLO !!!

Since: Jul 08

Location hidden

#9 Mar 7, 2009
Gary wrote:
I took some rings & things to one of those places with a full page ad & got some quotes. Than I took it and sold it in A local auction & nearly Doubled the money. 5 or 6 different people were bidding on it! HELLO !!!
Where is a local auction? I'd like to check one out.

Since: Jul 08

Location hidden

#10 Mar 7, 2009
David wrote:
This might be hard to believe, but sometimes people will sell their gold jewelry only for the weight of the gold. Years ago I remember a antique/collectibles merchant in Zern's Farmers Market bragging about how he ripped off an older woman who brought in gold rings. Gold had jumped at the time and all people could see was the gold and completely disregarded the precious stones that were in the rings. It bothers me to think that older Americans have to sell their possessions in the first place; and, to think about unscrupulous merchants that will take advantage.
I've been to Zerns. It was about 15 yrs ago. They had the best fruit. LOL! Believe it or not that's what I bought when I went there.The Amish grow good produce.
Is it still there?

I agree. People shouldn't have to sell their posessions to get by. Especially the elderly. Other countries take good care of the elderly.
Gary

Bangor, PA

#11 Mar 7, 2009
check out the newspaper Friday's are auction ads in morning call & reading eagle also check out merchandisers.

Since: Jul 08

Location hidden

#12 Mar 7, 2009
Gary wrote:
check out the newspaper Friday's are auction ads in morning call & reading eagle also check out merchandisers.
Thanx:)

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