Gold Stash for Cash From DR.com

**CouponShelle** · 09-11-2009, 12:02 AM

Has anyone used it? I went thru my jewelry and I have plenty of old, outdated, broken stuff (and WHY did I save it?). We have a jeweler near here that does sales 6 days a week. I'm wondering if anyone has done it and if they were happy with the results.

I also wonder what they do with the "jewels". I have a few small rings from when I was in my 20's that have diamond "chips" in them. Do they pop them out for you or do they just buy the gold and discard the rest?

thanks for any input.

**Greebo** · 09-11-2009, 05:56 AM

Never used em, but I put a lot of stock in Dave's endorsements. We've used his ELPs and recommended agencies for other things and had good results or at least good feelings about them even when we haven't used them.

**ladytoysdream** · 09-11-2009, 06:28 AM

We had a buyer come to our city back this last summer, and set up for a weekend in a local hotel. People just came into the conference room and sat in chairs till he was able to get to them. He and his helper were at a long table in the front of the room. He would check the jewelry, coins, etc over and make his piles of what he wanted and what he did not want to buy. He also had his tools of the trade and he was using them to double check himself. Then he weighed the stuff and figured out what he owed you. I only had a small pile of things but ended up with $ 55.

I would not sell through the mail or however that works. Do it in person. This guy took out a huge ad in our local newspaper. And he was paying in CASH. The one guy ahead of me had a lot of stuff to be gone through. The dealer was interested in these coins the guy said he had. The guy turned him down. Sure sounded like a good deal to me. Why sit on a collection forever and ever, if you need money.
And no, don't take jewelry apart. Let the experts do it.

**Greebo** · 09-11-2009, 08:44 AM

I wonder if this would be a good time to short gold...

**CouponShelle** · 09-11-2009, 10:16 AM

Ok, checked them out on BBB and they have an A-, might just be the length of time they have been open? I'm going to go to the jeweler in the next town over (they all run together here, that sounds funny) on Saturday. I'll let you know how it goes

**monkeywrangler71** · 09-11-2009, 10:37 AM

I thought last year was a good time to short gold, and I thought so the year before as well. I sure as heck wouldn't be going long on it; but this bubble's holding capacity is so much greater than I imagined it would be, I've given up on predicting when to short.

**mateosbaby** · 09-11-2009, 01:43 PM

What does it mean to "short" gold? Forgive my ignorance, but I'm new to the financial world.

**Greebo** · 09-11-2009, 01:55 PM

In this context, it means I wonder how far down the price of gold is going to go in the not too distant future.

To "short" something - a stock or commodity in this case - is to sell that item when you don't own it. If the value falls, you then buy that item for its current value, and you pocket the difference. So if you think IBM is gonna plummet, you could short them at 50 and buy them at 25 and make $25.00 profit per share.

The danger, of course, is if you short a stock and its value goes up, and then the brokerage calls your margins and you have to pay for IBM at 75 when you sold it at 50.

**CouponShelle** · 09-12-2009, 10:52 PM

Well, went to a live event today. About 1/2 my stuff was real, the other 1/2 was either not real or gold plated. All in all, my haul got me $105.50.

I was disappointed though when I asked if they did the Dave Ramsey plan. The kid/guy that was cashing ppl out said his brother knew Dave and was co-owner of the business. So I ask, do you do the Dave Ramsey plan. Guy goes "I don't have debt... well, except my car and everyone has a mortgage". Um, ok... I'm going to say he's never read the book, followed the plan and probably safe to say he's never listened to the show.

**mauimagic** · 09-13-2009, 03:12 AM

Mahalo for the update. Anyone else participate in this?

**FatmanOSU** · 01-27-2012, 10:03 PM

They are a scam. Their prices are only a 1/3rd of what they should be. They give you about a 10th of the retail price per gram. Currently paying about $3.35 per gram of 10K gold.

**ecr1002** · 02-28-2012, 10:05 PM

You may want to try a local jeweler. That's what i did and it was great.

**Molemommy** · 02-29-2012, 12:05 AM

Me and my husband have a coin and jewlery shop...
BEWARE of the people that come to town and set up in hotels... they give you about 1/4 of what your items are worth. Your best bet is to take to a local jeweler and have them give you a price and then take it to another and get another price.. everyone pays different and every day is a different price because of the market.
Most all legit companys will give you a free quote on what your items are worth. if not then you might want to stay away.

**josantoro** · 02-29-2012, 09:19 AM

I would be very wary of anything other than a local jeweler or other business who is in the community 365 days a year.

I know some of the ones where you mail it in have been proven to be a ripoff. They were sent a known quantity of gold with a known value, their offer was a fraction of the known value. When you say forget it, send it back, the offer goes up - but never to the amount that a legit dealer would offer you.

**jc7622** · 03-22-2012, 02:04 PM

Regardless of who you sell to, educate yourself. Learn about the different purities of metal, the percentages of gold in them, etc. Know what the spot price of gold and silver is. Know what your stuff is worth. A lot of these gold buyers pay a fraction of what the stuff is worth. A lot of people selling gold and silver jewelry are uninformed as how to evaluate its value in terms of gold and silver content.