Net Worth
Good Info I've Collected
- Debt Calculators and Debt Reduction Resources
- Financial Calculators
- Free Stuff
- Increasing Your Income
- Keeping Motivated
- Living Frugal
- Random Money Saving Tip
Site Design By
Site Hosted By
- Dreamhost - use code GIVEME50 and you will save $50 off your first year of hosting (I make $47).
Gold Parties seem to be pretty popular in lower Michigan right now due to the price of gold hovering around $1,000/ounce. People are gathering their old/damaged jewelry and going to these parties to cash in. They are sort of like tupperware parties, but you aren’t spending money…you are making it.
“Patty Miller, 40, of Grand Blanc, said she went to a gold party a few weeks ago, taking some gold rings and necklaces that were “just sitting around” and didn’t expect much.
“I ended up making $320,” said Miller.
[Via The Flint Journal]
I have looked around my house for any gold pieces I could find. Unfortunately, I only have a couple of rings. I’ve never really been into jewelry and the stuff I did buy was the cheap imitation stuff. If you have gold jewelry laying around, it may be an option to sell some of your gold to have more money to use to payoff your debt.
But do your homework first, though. While some gold parties may be hosted by reputable jewelers, the sudden popularity of these parties may bring out some people buying gold that may undervalue your gold (intentionally or unintentionally).
“We are professional jewelers,” Fregoli said. “Now you have some incompetent people doing this business who don’t know the difference between gold and a brick.”
So sellers beware, they caution.
[Via The Macomb Daily]
As with many things, it may be worthwhile to get a few offers before you sell. We don’t have any gold parties near where we live, but I may bring along my gold jewelry next time we go shopping and are near some jewelers.
Random Posts
Leave a Reply
About This Site
Credit Card Debt
- Starting = $37,614
- Paid Off = $28,616
- Current = $8,998
- $25 ING Savings Bonus
Savings Account
- Current = $3,203
| BlogHer Ad Network |
| More from BlogHer |
| Advertise here |
| BlogHer Privacy Policy |
Posted: March 18th, 2008 at 6:12 am
I guess it makes sense with the price of gold so high that the castoffs are now worth something. I would never have thought they existed.
Posted: March 18th, 2008 at 8:05 am
Very interesting! Sort of like bringing the pawn shop to you. I probably don’t have much I could sell, but if I did this would certainly be an option to add to my debt snowball!
Posted: March 18th, 2008 at 8:07 am
This sounds like something I’d like to get my wife involved with. She would love it!
Thanks
Posted: March 18th, 2008 at 8:57 am
I would take my gold to a jewellers first to get a free valuation and then you would know what it was worth when taking it to the party.
Posted: March 18th, 2008 at 9:20 am
One time some homeless guy off the street was trying to hustle me a ‘gold necklace’ for 20 or 25 dollars. I wanted to see if I could hustle back but I knew he just wanted money. I said 10 dollars because I had all but 10 dollars in my pocket. The man said yes and we exchanged. I went to my local mall a few days later and had various small and big name jewellers take a look at it. If I remember the numbers I think it was 2 out of 4 jewellers said it was fake. But then again I just gave it to the people behind the counter and did not ask for certified persons. I would not participate in anything of these parties unless you paid money to have someone certify it as real, amount and value of gold you may have.
Posted: March 18th, 2008 at 11:07 am
I don’t have any gold jewelry!
Posted: March 18th, 2008 at 12:14 pm
This is just great.
Gold over $1,000 an ounce.
I wish I had been more of a gangster in my formative years. As it stands, I own no jewelry of any kind, and certainly no gold. I imagine some OGs are cashing in a tooth or two around now. Too funny, but I’ll bet it’s true.
Posted: March 19th, 2008 at 3:00 pm
I think that people should wait a little longer the the price of gold is directly related to the value of the dollar. When one goes up the other goes down. Sad to say this but the dollar has not seen the bottom yet.
Posted: March 19th, 2008 at 9:32 pm
I think the concept is great. These so called “experts” and “jewelers” hate the idea of the public having what could be a more profitable way to sell their gold. One expert in a blog on these parties said these untrained people buying wouldn’t know gold from a brick. ..they sure seem to be protesting a lot..lol ..in one of the articles they refered to goldkit.com and said people could just skip the middle man and sent to them. This site does not give a price. You have to mail the items in to get a price. There are plenty of sites for refineries the problem is most are selling small quantities and refineries aren’t paying top dollar for small quantities. Also, the reference to gold at 1000 an ounce and getting half of that, that won’t happen anywhere unless you have 24kt and most of us do not. If 14kt is approx 58% gold approx., refiners are going to buy under that 58% of spot gold price. I think with this economy and gold being as valuable as it is, this is a concept that I expect to catch on. I ordered my book today. I’ve been buying and selling gold for a while and already have the equipment. I would suggest buying the equipment online, google the product. The tester they sell is a really good one but can be purchased cheaper elsewhere. Just my two cents worth
Posted: April 8th, 2008 at 10:06 pm
How do I find out if there are any Gold parties in my area? I would like to host one in West
Palm Beach, Florida.
Posted: April 22nd, 2008 at 12:26 pm
MYGOLDPARTY.COM
Check out the article on the company in this weeks issue of Time magazine. The principals were also on the Today show this past sunday.
http://www.time.com/time/magazine/article/0,9171,1731875,00.html