Posted: Jun 3, 2010 6:52 PM by Veronica White
Updated: Jun 3, 2010 6:52 PM
Selling gold for quick cash is one way many people are making ends meet in this tough economy
"My bracelet was very dear to me but it's broken so I decided to get rid of it to help out-- we're on a fixed income and a little extra money always comes in handy," says Velma Sonnier from Rayne.
Gold has increased in value about 70% over the last year and a half-- from about $700 to $1300 an ounce. Jeweler P.J. Naomi says it is because of the economy.
"Because of the devaluation of the American dollar people started putting their money and investments into the gold market," says Naomi.
People are turning any gold they can find over to traveling companies and pawn shops-- even broken chains or earrings without a match are worth something-- because they can be melted into scrap metal.
Naomi recommends researching for a good deal.
"I would check with the Better Business Bureau and ask what they're giving per ounce, shop around and get the best quote you can," he says.
The traveling company, Ohio Valley Gold & Silver Refinery, is at the Best Western on Polk Street in Rayne Friday June 4 and Saturday June 5 for those interested in seeing what they could get from their old jewelry.