Selling Gold for Christmas Cash
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.