KFLCC Kingdom Economics

F INANCIAL S ECURITY IN THE L AST D AYS

sell well in a downturned economy because people are more cautious about how they spend their money, today we are blessed to have a variety of avenues for selling merchandise. Gain some knowledge and do your research in advance so you will know what is selling, what to buy for resale, and the value of the items you are selling. Even this requires wisdom if you hope to make money. 4. S ELLING G OLD J EWELRY With the price of gold today, it is wise to consider the value of any gold jewelry you might no longer be using, and how it could be sold for extra income. Here is a word of caution. You will see countless television commercials from companies suggesting that you send them your unwanted gold jewelry for instant cash. These companies instruct you to fill out a form, mail your jewelry in a secure package, and expect a check in a few days or weeks. In my opinion, this is an unwise way of selling your jewelry because you do not know the people with whom you are dealing. If you are sending jewelry that contains diamonds or other gemstones, you might not get them back when you send in your gold jewelry for cash. The company will then have your gold, as well as your diamonds and gemstones that can be sold to an outside source. In my opinion and that of others, a person should never mail valuables to an unknown company in this manner, as most companies never tell you how they are evaluating the cost of your gold. There is 10, 14, 18 and 24 karat gold jewelry; the higher the karat, the purer and more valuable the gold. A company can tell you that your shipment was worth only a certain amount, and if you did not know how to weigh the jewelry on a jewelers scale and understand its quality, you could get twenty-five to seventy percent less than you should be receiving. Here are two examples I know of from sources in my home town. A group of men came to a hotel in our community and advertised that they would give the highest price possible for scrap gold. A widow woman brought her husband’s gold Rolex watch. The “gold expert” told her that he could give her only $350. She was happy to receive that amount. However, she later learned from an honest person in the community that the watch was worth about $4,000! Another young woman took a few rings into a shop that purchased gold and was told the rings were worth seventy dollars. They also told her this included her diamonds in the ring. She then took it to a Christian friend of mine who weighed the ring, gave her double for the gold, and told her to sell the diamonds

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