Now's another good time to sell your gold
Filed under: Budgets, Reduce Reuse Recycle, Wealth, Investing
The price of gold has been surging this year, and it now looks like another good time to wade through your box of gold jewelry that doesn't have much sentimental value and sell it at a high price.
In what is probably the safest precious metal of them all, gold futures briefly topped $800 an ounce Friday for the first time in more than a month.
Gold for December delivery rose $43.10, or 5.8%, to end at $791.80 an ounce on the New York Mercantile Exchange. It jumped 7.1% earlier to $801.90, rising above $800 for the first time since Oct. 16.
Often used as a safe-haven investment, gold topped $900 an ounce in September after the collapse of Lehman Brothers, then fell below $700 in October as bank and funds liquidated their precious-metal assets for much-needed cash in the face of the credit crunch.
March was also a good time to sell gold, when it hit its record high above $1,000 an ounce. But compared to that price, gold is now down more than 20%.
There are plenty of online places to sell gold, but I can't make a recommendation because I've never used them. The only gold I own is my wedding ring, which isn't leaving my finger, no matter how high the price goes.
Aaron Crowe is an unemployed journalist in the San Francisco Bay Area. Read about his job hunt at www.talesofanunemployeddad.blogspot.com
Reader Comments (Page 1 of 1)
11-24-2008 @ 10:32AM
Tracy said...
Hard times right now and it isn't for some, it is for everybody. I would consider myself middle class and I already needed to sell some of my old jewelry for some cash. I researched a bunch online sites, but ended up using a site called http://www.GoldPawnShop.com. They were great and I would highly recommend them.
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11-26-2008 @ 4:10PM
Jason said...
Tracey, i totally know what you mean. I never thought i would have had to sell any of my gold, but i did. I ended up using a site called http://www.sellgold.com The customer service was excellent.
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12-08-2008 @ 12:58AM
Troy Buckman said...
I sold my old gold jewelry and some silver flatware to www.AugustusGold.com and they overnighted me a check for $1043.97 the next day. I did some looking around and found out that they are one of the only ones that actually posts their prices on their website, and of the ones that do, they were the highest. They also go into great detail about how to estimate how much you have, and they give to charity, too. They don't advertise that, but I thought it was pretty cool. Augustus actually calls you with your quote before they send your payment, too.
Troy B.
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12-18-2008 @ 1:27PM
tommy said...
These comments are really funny, they seem like just advertisers. I had a lot of old jewlery to sell and have actually tried most of these sites. The two that are most reputable and have the highest payout are empiregoldbuyers.com and goldkit.com.
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2-12-2009 @ 6:22PM
Monique said...
It's always a great time to sell your unwanted jewelry and gold, but especially when the price for gold is high! I had great service and got much needed cash at http://www.sandiegojewelrybuyers.com/ They were reasonable and fair, and I would recommend them to anyone. Thanks for sharing your tips!
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