With gold at an all-time high, almost everyone, regardless of their occupation or financial standing, is selling their old gold. It seems everyone is buying gold now, from pawn shops, jewelry stores, and even ads on television that want you to mail your gold in to them.
Before answering a television ad, consider Banks Jewelers. Randy Stuart, owner of Banks Jewelers in downtown Camden, says that his store guarantees customers that they "will pay more than anyone in the state. We can do this because of three very simple reasons:
• We also have jewelry stores in Arkadelphia and Hope. We do custom work at all three stores and need the gold for casting. Instead of simply re-selling the gold for profit, we use it to make new jewelry, which allows us to pay more ... sometimes much more ... than other places.
• We are very competitive and take pride in helping our customers get the absolute most money for their gold.
• Trust - We have been in business for 30 years and plan on being here for many more years to come. Why deal with a mail order location or a 'fly-by-night' place that blows into town one day and out the next?"
Stuart said he has actually had several customers change their minds about dealing with other companies. He said they "wanted to think about the offer I made them and, in the meantime, got excited about the Cash4Gold ads on TV and sent their gold in. In every case, the customer came back in to tell me they got less than half of what I had offered."
He said many people see the price of gold on TV and think they can actually get that price for their gold.
"What most people do not realize is that gold price is for pure, 24-karat gold," Stuart explained. "Most gold chains and rings are either 10-karat or 14-karat gold, so there isn’t as much gold content. We analyze your gold, separate it by karatage, weigh it and make you an offer on the spot."
In reference to investing in gold, Stuart states:
"Many investors are looking to buy gold, thinking that prices will climb higher or, at the very least, remain more stable than the stock market and earn more than the current CD rates. Yes, we have also been selling gold. We recommend the one-ounce American gold eagle coin for investment. It is pure and there is always a market for it."
Stuart added that many people are adding gold and silver to their investment portfolios as a form of insurance because they have lost some confidence in other forms of investment.