Gold rush in the 21st Century: Prices send crowds to buyers - WTVM.com-Columbus, GA News Weather & Sports

Gold rush in the 21st Century: Prices send crowds to buyers

By Curtis McCloud -   bio | email

COLUMBUS, GA (WTVM) - Louise Lewis plans to turn in some of her precious metals for cash - for the first time.

"I have some coins that I have collected over the years and I was wondering what they were worth," Lewis said.

Like Lewis, many in the area and across the country are taking advantage of the high price of gold. Numbers released Wednesday morning show that gold $1620.00 per ounce. 

"Gold has never been this high before, so a lot of  people figure that the price of precious metal will go down in the very near future when Washington gets its act together," Joseph O'Connell.

"The economy is really bad right now and a lot of people are surviving day to day right now and they have to sell their precious metals to pay their normal living expenses," O' Connell said.  

For more than 50 years Patrick Williams has collected antique jewelry. He adds that people should not be so quick to part with grandma's beloved family heirlooms.

"Makes me sick when I see these fine nice pieces of jewelry being thrown into a smelter to be melted and made into a bar of gold," Williams said.

Williams, the owner of an antique shop in Columbus says that most buyers will only give people about 15% to 20% of the value.

"These folks are coming in and putting signs up, saying we buy Gold, when they are buying nice pieces of jewelry and turning them into scrap," Williams said.  

But some like Lewis don't have a problem with cashing in while the price and time is right.

"You should definitely come out now and go to gold trading places I think," Lewis said.

Both buyers suggest that if you plan on turning in gold items then you should call around to see what places are paying per ounce for precious metals like gold and silver.

Another suggestion: Pay close attention to what is going on in Washington, which will have a major effect on the price of gold.  

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