Selling Gold for Christmas Cash

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POSTED: Tuesday, December 14, 2010 - 6:55pm

UPDATED: Wednesday, December 15, 2010 - 11:58pm

This Christmas selling gold could give you some extra green to put gifts under the tree.

Chad Clark is a gold buyer, and he says now is the time to sell.

"We broke a record last Monday, with $1430.00 an ounce for gold and a 30-year high for silver," Clark said.

With a tight budget, people like Maria Hesse are getting creative this year so they can stuff their loved one's stockings.

"Christmas is coming and presents are expensive so I'm selling my gold," Hesse said.

The price of gold is up over $500.00 an ounce compared to this time last year.
Those old trinkets you never wear could turn into some serious cash.

"A silver dollar coin is one ounce and that's worth $30.00, versus that same weight in gold is worth $1,430.00," Clark said.

Taking that cash straight to shopping is a great way to stay out of the red.

"They're paying cash rather than charging this Christmas and so our business, CD Clark & Co, buying metal helps that out, helps people stay out of debt," Clark said.

Maria has been selling gold for about eight months. She says it helped her a lot when money was tight.
"I've been able to pay off debt, since my husband died it's been hard to pay the bills and selling gold was a good option for me," Hesse said.

And just in time for the holiday season, this company is giving back to those less fortunate until December 21st.

"Five percent of everything we buy goes to the local food bank," Clark said.

Something that even makes the people selling gold feel like they're giving back during their own tough times.

"I really like that they donate money because feel like I'm contributing as well since I sell to them," Hesse said.

J. Edwards Diamonds is a local jeweler here in El Paso and he has some advice for anyone wanting to sell gold.

Click Here to see what he's got to say.

Comments News Comments

I should have realized to that your news story
was just a lengthy commercial

PLEASE READ STARTING WITH 4TH POST DOWN
Hotel & Internet buyers have been known to pay as little as 25%.

Always ask the buyer for the weight and what he is paying per gram or pennyweight. If the buyers response is vague, or response with something like how much you are looking to get, the chances are you won't get a fair price.
All the best,
Robert G.
Coin Dealer

Example: You have a 14k gold ring that weighs 7 grams and the price is listed as $17.50 per gram
The exact actual gold (melt) value would be 7 x $17.50 = $122.00

Some coin dealers base the purchase price on the total weight of the item being sold. If you have just a few grams, you can expect most likely to get about 60-75% of the melt value. If you have a fairly large amount, for instance a heavy gold chain, you should be able to obtain 75-85% of the melt value. Cont...

. Coin dealers use as a source for information
(public access ) a website called Coininfo.com

This site lists the up to the minute values of gold, silver, platinum & palladium and other important information to their trade, such as the wholesale values of bullion items and coins. If you scroll down to the bottom of the page and you will see a chart that gives you the value of 9-24 karat gold per pennyweight or gram based on the current spot market price. Cont...

Before you sell your gold here are a few more Tips: Coin dealers have been and are the primary source for buying gold in coin or jewelry form for years. Unlike jewelry stores and pawn shops, they make a daily market in the purchase and sales of precious metals. Competition among coin dealers is quite fierce, therefore the prices they pay are the most competitive. They know the market at all times. Cont....

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