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Today Many People Are Getting Money For Gold To Survive In The Tough Economy

It has become very obvious that many people are struggling in todays challenging economy

. People are losing their job and cannot find one to replace it. Many other people are making ends meets by starting new projects and resorting to other means of making money to survive. Trading money for gold is one option many people have turned to. With the prices of gold at the highest it has been in years, now is the time to sell it. People are pulling gold from jewelry boxes and safe deposit boxes. Old gold and jewelry that has been collecting dust is now being turned into fortunes.

A new type of gold rush is appearing in both pawn shops and jewelry stores. Everything is worth something when it comes to getting money for gold; from old wedding rings to gifts from a high school sweet heart. It is amazing to see that people are having gold parties where friends and family members gather to sell jewelry.

Most jewelry that is being sold today is simply melted down for the gold, which is then resold. There are an endless number of buyers for gold. Besides the traditional coin dealers, pawnbrokers and jewelry stores, there are now online sites that provide a mailing service that in return gives you money for gold.

The higher the karat, the more gold it is. Pure gold is 24 karat, 18-karat is 75 percent gold, 14-karat (what is used in most jewelry) is about half gold and 10-karat is nearly 40 percent gold. Internet gold buyers are becoming just as popular as traditional gold buyers. Internet buyers pay for postage in mailing the gold to them. Once they have the piece, they assess the value and send you money for its value. Most of these online sites say they are both private and convenient. My Gold Envelope is the best in the industry.

A jewelry store is a good option to get money for gold and will give you more money than a pawn shop. However, jewelers are used to the wholesale prices that they pay for gold so you will not typically get the most money for gold as possible. The best choice is a gold buyer on the Internet; they can pay more for a few reasons. This first is because of competition. Online companies are competing with one another to secure a place in the market. They are trying to win customers by offering the most money for gold. The second reason is that they can give more money because they have lower operating costs. It costs less to operate a business online and by making more profit, online buyers are able to pass these savings on to customers.

by: JThomas
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