News To Know: Go For The Gold

It's the latest rage in entertaining guests and also a great way to make some cash. I'm talking, of course, about gold parties. Generally speaking, a gold dealer will coordinate with a homeowner to invite a bunch of guests over who then trade their unwanted gold jewelry in for cold hard cash. Gold parties can be a good method of fattening your wallet in tough economic times, but be careful before signing up. There are lots of opportunities for scams here. Be sure to know the purity of the gold you are dealing with (how many karats). Also, use due diligence in ensuring that you are working with a real gold broker and that there isn't any funny business in how they weigh and price the gold. You can certainly make a pile of cash at a gold party, just keep in mind that everyone is looking to make a profit here and not all people go about that honestly.

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