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Cashing in on high gold prices

READ MORE: Cashing in on high gold prices
WILMINGTON -- After years of coin collecting, Mary Williams has decided to cash out. "I had been saving those over the years and I said well, if I need it I can always buy something with it," said Williams as she waited in a long line to have her coins appraised. "Now this way I can get even more for it." Perhaps more than she ever will again. An ounce of pure gold is currently worth more than $900 -- the highest it's been in almost 30 years. Financial planner Ross Marino says high gold prices are a sign of tough times. "As the dollar goes down, the price of gold and other commodities goes up," said Marino. "If you look at the last couple of years, oil has increased, natural gas has increased [and] gold has increased at the same time." Reasons why so many like Mary Williams waited for more than two hours at Perry's Emporium in Wilmington on Saturday. They brought old jewelery, silverware and coins, hoping to strike it rich. "Probably the main reason people are bringing it in is to turn it into cash," Emporium owner Alan Perry said. "I mean, good god, gas is three dollars plus a gallon, so you know, every bit helps." It helped Rocky Point resident Leon Lewis. He walked in with a bag of old jewelery and walked out with nearly $2,000. "I done fine, it was worth the two hour trip," Lewis said. "I'm fixing to go and give my wife the check." Mary Williams, on the other hand, said she'd be happy to walk away with a few hundred. "Well, it'll be some help, I'll put it that away," she said. Jewelers who buy gold turn around and sell it for a profit. Financial planner Ross Marino says even though it's valuable in tough financial times, gold is not a good investment. He says it usually loses value over time.

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selling gold

kudos to the woman who brought her gold to college road pawn. i have done business with them many many times over the past 10 yrs and they are trustworthy people. they do give the highest price for gold around town. also, their employees treat their customers with respect and unlike other pawn shops that smell like gasoline, college road is clean and easy to do business with.

Ha Ha nice job of promoting

Ha Ha nice job of promoting yourself college road pawn. Some places may smell like gas, but they don't have the overhead of paying 5 employees to sit around all day - therefore they can and do pay much more than college road pawn. I'll smell gas for 5 minutes any day to walk out with double the money for my gold. Do your homework - no matter who you sell to, and shop it around. Pawn shops are right now paying anywhere from 3-10 dollars a gram in Wilmington. That's a big difference, worth a few phone calls.

Gold selling

You made reference to other places buying gold for better prices....can you give examples? I have some that I would like to sell, but don't have all day to drive around and investigate (nor the gas) and I've found they will tell you anything over the phone to get you in the shop. Thanks!

Don't be fooled by flashy buying event

I too took my old jewelry to Perry's. I had taken it by a pawn shop on College Road, I believe the name is College Road Pawn, last week. I did not sell it to the pawn shop at the time. After I took it to Perry's, I realized that the price that Perry offered was a lot lower than the pawn shop did. I took it back to the pawn shop and sold it. It pays to shop around. Moral of the story: Don't fall for the fancy buying sale.

GOLD

AFTER ONE VISIT TO PERRY'S, I WAS SURELY NOT GOING BACK THERE EVER AGAIN. BAD EXPERIENCE AND SHADY DEALINGS.

I especially like how the

I especially like how the back of his receipts claim all of his diamonds are guaranteed to be conflict free, yet he buys diamonds off the street and resells them daily. I wonder if he has to report to the police what he buys off the street like pawn shops do and hold all items a certain amount of time. I wonder how much of the jewelry he bought this week was from the recent rash of break ins in Wilmington.