Gold Parties Pay Cheap Prices for Gold

January 9th, 2010 by James L. Sweaney, CGA, FGA. GG
Gold for Recycling

Gold for Recycling

True Story- One of our local police officers stopped by early this week with this group of assorted gold items she owned and wanted to sell– jewelry she no longer wore, broken pieces, etc. We sat down, I examined her gold for karat content and weighed it up.

Our offer for the lot that day was a little over $1000. Then she told me that she would be attending a “gold party” at a friend's home later in the week. This was one of those “sponsored” events where the homeowner/party thrower invites friends and family to their home to visit a professional buyer and gets 10% of the take. I told her to go to the party and see what price her gold would bring, and please, to come back and let me know what they offered– I knew my offer would be more, but wanted to see by how much.

Sure enough, this afternoon, my police officer was back with gold in hand. The party company had offered her about $600 for the gold that I was willing to buy for $1000!

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