BlOG SURF: Golden rules

With the high price of gold and the current troubled economy, many are looking to turn old gold items into cash. Even items that may seem like nothing more than trash will have value if they are made out of gold. These old, broken or unwanted items can be melted down and the gold can be extracted to be used for other purposes. Once the gold has been processed, it has virtually the same value as a bar of gold bullion.

Check the current price of gold. Kitco will give the current spot price for gold as of that moment. Armed with that information, a range of reasonable offers can be determined. Since the gold has to be processed and refined before it can be reused, it wouldn't be reasonable to expect the full spot price. However, something in the 40% to 60% range is not at all unreasonable. Unless there are no other options — and with the high price gold is fetching, there are always other options — don't mail gold to some company advertising on late night television. —