Wednesday, April 22, 2009

It's a Gold Rush!

Today's recession has forced me to turn into... my Mother. Ahhhhhhhhhh!

I have become a woman who will stop to pick up a penny off the street. I am clipping coupons. I am sticking my fingers in the coin return box on the soda machine. I am going to more than one grocery store because the price of hamburger is $.50 cheaper here versus there.

Well, folks, I have struck the mother lode of deals. And I'm going to share it with you here.

About three weeks ago, I was visiting with a client who runs a jewelry store. He told me that gold and silver was a hot commodity for the jewelry industry right now. That people, who may have just gotten laid off or need some fast cash to pay bills, are bringing in their gold or silver jewelry. The stores buy it, melt it down and sell it on the market.

That got me thinking... I had a little ziploc bag of gold in my safety deposit box. Old dented add-a-beads (remember those from the 80's?), stray earrings, broken bracelets or chains. And I had more pieces in my jewelry box at home - a couple of old rings from high school I never wore anymore, stuff like that. So, I rounded it all up, took it in and asked what I could get for it.

Are you ready for this?! Drum roll please! Brrrrrrrrrrrrrrrrrrrrrrrrrrrrrr ching! ONE THOUSAND AND FIFTY DOLLARS! Yes, that is right. $1,050.00.

Happy Day! The DMN did a recent article on this topic. They shopped around and wrote about the differences in their quotes. That was a good enough quote for me. But if you want to read the article, click here.

So, girlfriends, go clean out your jewelry boxes!


  1. very interesting. I need to go through my stuff! does it matter if it is low karat weight? I have no idea what I have in there.

  2. I wonder when they'll start melting down neon colored 80s crap back into plastic-y chunks - cause that's when I'll be rolling in money.

  3. @Elmo THey seperate the pieces by karat weight and you get different amounts based on if it's 10, 14, 24 karat.

    @Extranjera When that happens, I'll buy an island next to yours in Figi with all the money I will make.