In today’s difficult economic times, people are returning to the gold standard. In the land of plastic money and high credit card debt, nothing is as safe as an investment in gold. Gold you can hold in your hand or store in your safe deposit box for a rainy day. If not for an investment, those looking to score cold-hard cash are scouring storage for family heirlooms browsing through thrift markets to find the gold and silver that has been long-forgotten in tarnished or ugly and out-of-date jewelry. It’s a booming industry for gold and silver buyers. But beware, not all gold and silver buyers are equal and one should do their research before selling off what could be a veritable “gold-mine” for their own investment portfolio.
“Gold closed Friday just under the record price it had set earlier this month of $1,437 per ounce. That’s nearly three times what it was selling for in 2006. The price of silver ended the week above $37 per ounce, up a whopping 74 percent from six months earlier.”