The Gold Rush of 2010
Cash for Gold - Is it a Scam or a Windfall?
Perhaps you’ve heard that the price of gold hit an all-time high. Maybe you’re thinking “So what? I’m thinking more about keeping a roof over my head than investing in precious metals.”
Well, think again.
This is a true story. One of my relatives found herself in the unenviable situation of being completely broke, running low on gas with payday still 3 days away. In desperation, she got the idea to take her old jewelry to the Gold Rush kiosk in the mall.
She got over $300 in cash! (More than enough for gas.) So she told her aunt about it, she took hers there and got over $1000! In my family, news like this travels fast, so I gathered up 3 mismatched earrings, 2 busted necklaces, a ring & a too small baby bracelet, took it to the Gold Rush kiosk near me and got $268.38!
There’s a simple explanation why they’re paying so much. The weight of five quarters equals an ounce. With gold valued near $1400 per ounce the weight of 10k, 14k or 18k gold jewelry can add up quickly.
But there’s a sad part to this story. Another relative took her old gold to a nice-looking, local store with a “We Buy Gold” sign, instead of driving all the way to a mall kiosk. Based on how much we got, she had hoped for several thousand dollars. But she walked out of there with just $100 - which was better than nothing, but a far cry from what she expected.
So if you’re kind of desperate for money yourself right now, you might consider converting some of your unused gold into cash at a reputable kiosk or getting several different quotes before you sell it.
Perhaps you’ve heard that the price of gold hit an all-time high. Maybe you’re thinking “So what? I’m thinking more about keeping a roof over my head than investing in precious metals.”
Well, think again.
This is a true story. One of my relatives found herself in the unenviable situation of being completely broke, running low on gas with payday still 3 days away. In desperation, she got the idea to take her old jewelry to the Gold Rush kiosk in the mall.
She got over $300 in cash! (More than enough for gas.) So she told her aunt about it, she took hers there and got over $1000! In my family, news like this travels fast, so I gathered up 3 mismatched earrings, 2 busted necklaces, a ring & a too small baby bracelet, took it to the Gold Rush kiosk near me and got $268.38!
There’s a simple explanation why they’re paying so much. The weight of five quarters equals an ounce. With gold valued near $1400 per ounce the weight of 10k, 14k or 18k gold jewelry can add up quickly.
But there’s a sad part to this story. Another relative took her old gold to a nice-looking, local store with a “We Buy Gold” sign, instead of driving all the way to a mall kiosk. Based on how much we got, she had hoped for several thousand dollars. But she walked out of there with just $100 - which was better than nothing, but a far cry from what she expected.
So if you’re kind of desperate for money yourself right now, you might consider converting some of your unused gold into cash at a reputable kiosk or getting several different quotes before you sell it.
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