What to do with GOLD!!!

[Jdett411]

I'm still pretty new at detecting, but I always liked the thought of finding gold and selling it for $$. Now that I have 3 gold rings I'm thinking differently, even with gold prices being so high. I live by a large city with lots of beaches so jewelry finds are uncommon. Also have 6 silver rings and 1 necklace. What's everyone's opinion? I'm still on the younger side,33. Work is good, I'm not hurting for cash now, should I be hoarding all my gold and silver finds till I'm a ripe old age.

 

[cudamark]

I think everyone should keep some gold and silver on hand. You never know when our currency might tank and become worthless. It also make a nice rainy day fund for some other unforseen emergency.

 

[MadPoetLaw]

All of the precious metals are assets and you should save them. By your own admission you are doing well financially and don't need to sell them so you are better off tucking them away and saving them for a rainy day. I've been following gold and silver for years now and i doubt either is going to seriously go down in value much. Sure they fluctuate in price but they will absolutely never be worthless.

If you do decide to sell them I have found that the best prices for sellers of scrap gold/ silver are usually on eBay. BUT a word of caution. You should only do this if you are an experienced seller and take care to protect yourself. The competition of the buyers there will usually net you about 98% of scrap value (including shipping costs) and that's far better than any local shop will offer you.

 

[bevo]

Last winter I pawned some of mine, it helped get me through, and when things got better I got it back.

 

[Sandman]

Never ever sell your gold to a pawn shop or one of these places that advertise for buying your gold. You will be paid pennies on the dollar. Instead sell to Midwest Refineries or ARA Refineries. They pay 98% of the spot price on the day they test it. You get honest weight that you got on your scale at home and ARA sends you back any stones.

 

[dougofpa]

Thanks sandman...some pretty good advice.

 

[aarthrj3811]

I just sold mine...I held onto mine when gold was $800 a oz the last time it peaked...It only takes one country to dump their gold to make it worth $ 230 a oz..

 

[Peyton Manning]

you ought to think of the elderly and send it to me

 

[scurvy_seadog]

I would hang on to it. build up a treasure trove of stuff. I hope that i can find some cool stuff. my luck bottle tops and rusty nails is all i will find.

 

[elijahhenry10]

I think everyone should keep some gold and silver on hand. You never know when our currency might tank and become worthless. It also make a nice rainy day fund for some other unforseen emergency.

What do you mean by 'when' our currency tanks? It's been a plummet downward since 1933....