SELL That Gold & Silver
Published by Larry on Tagged Selling Detector Finds
Gold closed at an all time modern high Friday at $1001.00 an ounce and silver closed at $20.63 per ounce. If you have silver and gold scrap or have bullion of either, this is the time to take a profit. You have to go back to 1980 to see a time when gold was even close to this high and silver for a short time more than doubled this level.
Why do I remember it so well? I was a 32 year old treasure finder with $82.00 in silver coins that were extras that did not fit into my coin collection and more than a hundred silver and gold rings also found with my metal detectors. The day was January 21st and that afternoon gold peaked at over $950 before closing that day at an unheard of $850 an ounce. Silver actually hit $47 an ounce that day before closing much lower. The coins and rings brought me more than $2800.00 at 2 p.m. at my favorite coin shop. I had just a few days earlier sold my 1969 Camaro and wanted a newer sports car and did not want a car payment. I was able to buy a 1976 sports model with low mileage with that cash.
A silver US dime is worth about $2.00 and a half is worth nearly $10. A $20 Dollar Gold coin is worth about $1000.00 and scrap gold will bring more at this price than any time I have seen. A gold futures seller said to sell all of my gold now and buy more when this price drops down dramatically in the near future. I said to him that that was not the best approach as some of my gold has rarity levels and finding coins to replace them would be difficult. However, I encourage you to sell, sell, sell while the prices are so hot. Here’s to “diggin it”! Larry
March 20th, 2008 at 2:40 am
Gotta agree. Gold prices are out of control… it’s never been a better time to look through the old jewelry box and sell off the stuff you’ll never ever wear
April 14th, 2008 at 7:51 pm
Gold prices are crazy. It’s probably a combination of everybody deciding to turn their dollars into gold and the weak dollar. I even was thinking about investing in gold recently until I heard gold was at an all-time high!
April 15th, 2008 at 4:48 am
Keith,
Gold is not a good investment at today’s prices. The only way I would venture into it today is the selling of scrap and broken gold jewelry to purchase gold coins or bullion