People cashing in on gold prices

by Tristan Henry (thenry@wsbt.com)

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People can bring by their unwanted gold for cash this weekend in Benton Harbor (WSBT Photo)

People can trade their unwanted gold for cash this weekend in Benton Harbor (WSBT Photo)

By WSBT News1

BENTON HARBOR — Gold prices have jumped 37 percent since last summer. Saturday a Michigan company that buys and sells precious metals held an expo in Benton Harbor. They are paying people on the spot for their gold and silver.

Frank Braziel heard about the gold trade-in on the radio. He has never done this before, and he's a little nervous, but he wanted to see what kind of deal Goldmans could give him for his gold rings.

"Don't know unless you bring it in," Braziel said.

Goldmans has been holding gold trade-ins for the past six months.

"We take anything including coins and dental bridges. We ask you to take the teeth out before we take the bridges. You know anything that's a precious metal," said Goldmans owner Marilyn Kopp.

She said gold prices are ranging between $800 and $900 an ounce right now. So it only takes a little bit of gold to add up to a big check.

"This is a smart time to sell it and turn it into something you want, either other jewelry you want or to go on a vacation or pay bills," said Kopp.

Frank was so happy with his check he's think about seeing what other unwanted gold he has laying around the house.

"It pays off to. So if you have old gold or damaged gold, bring it in, get rid of it. It's worth your while, it's gas money," said Braziel.

The owner of Goldmans has some tips for selling your gold for cash.
-Never sell your gold or silver to anyone unless you can see the scale.
-You should also ask to see the carat reader.
-To know if your gold is pure or plated, run a magnetic over it. If it is magnetic the gold is plated.

Goldmans will be holding the expo on Sunday.
They are set up at the Courtyard by Marriott on Mall Drive in Benton Harbor. The trade-in runs from 11 a.m. to 5 p.m.

For more information log on to this website www.bestpricegoldmans.com.

Monday, Aug 11 at 1:20 PM Ida wrote ...

Someone's making big bucks here, and it's not the fools throwing away family heirlooms for "pizza roll"(Are you stupid or kidding?) money. Think about it. They aren't buying all those trinkets to wear/enjoy them, so they must be reselling, which means they KNOW the stuff is worth more than they are paying you suckers. I don't have to be a market expert to figure than one out. If you just can't wait to part with jewelry, there are lots of online auctions to join where you can set your own price.

Monday, Aug 11 at 8:16 AM Gary wrote ...

Pizza rolls and "pankakes" - yep, that's what I'd buy with my last bit of grocery money too.

Monday, Aug 11 at 3:52 AM BE CAREFUL wrote ...

Be very careful when you sell your gold to these type of operations. Many of these types of people are out to get ya. Be careful.

Sunday, Aug 10 at 9:09 PM Gold Broker wrote ...

Whatever you do don't sell your gold at a pawn shop! 5.60 a gram is a rip off when you can sell it on the internet for 4x that amount.

Sunday, Aug 10 at 8:55 PM Rich wrote ...

Keep your jewelry, they only pay a small amount for what you bring in. You might be better of at a pawn shop for no more than they will give you. They should be hit for false advertising!!!!

Sunday, Aug 10 at 8:43 PM Anonymous wrote ...

I'm not seeing fewer people on the road. Last friday the rush hour started at 3 and there was wall to wall traffic... there's nothing but sunday drivers around here, coming and going, blasting stereos. What bad economy? The news just likes to complain because that's what people like to do and read about.

Sunday, Aug 10 at 6:24 PM Midas wrote ...

MM is right! People in the know are predicting $2000-$3000 per ounce gold, and silver will be around $100 per ounce. These metal dealers are a suspect lot. Don't sell your family heirlooms for a pittance. Research to find a reasonably honest dealer. The money wheeler-dealers constantly play these games with the ignorant masses. Cheating and stealing are a way of life with them, leeching off the labor of others. Use your computer to get educated and take a trusted relative when you sell.

Sunday, Aug 10 at 1:16 PM hoosierboy wrote ...

Are they taken down drivers license numbers and validating ID. How do we know the stuff isnt stolen and its being turned in for cash without any questions?

Sunday, Aug 10 at 10:54 AM Hazel Barrien wrote ...

I want to sell all my jewelry and gold pennants that my mother and grandmother gave me. I need money for food. they are so expensive and this piece of gold that I have plus the silver medallions and golden watches I would like to sell them and buy some pizza rolls and pankakes so I will not starve. The utilities are so high that I cannot afford to buy anything else much of the money goes for the phone bill that has risen so much this days. Any thing else I could sell will be on my terms.

Sunday, Aug 10 at 6:20 AM MM wrote ...

keep your gold. as the dollar continues to tank gold and silver will be worth more. wait until they are begging for it and even then make sure you can get food,shelter,etc from your sales.if you take fiat money(the dollar) for gold it's stupid.

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