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A necklace with a broken clasp. Gold earrings missing their match. An old dental bridge needing a patch."I saw it on the news," said the smiling 60-year-old, leaving Master Jewelers with $700 in bills. "I said, Oh, now is the time. It was just the right time.'"


McLemore is one of numerous people all around the country cashing in on the rise in gold prices, to a height that hasn't been seen in 28 years.


"I've been saving it a long time," McLemore said. "I'm going to pay some bills."


Terry W. McMullin has been in the jewelry business 34 years. He and his wife, Jackie, put a banner outside Master Jewelers: "We Buy Gold."


He said people started bringing in bags of gold jewelry when the price hit $900 an ounce. Even more prospectors came after it reached $1,000.


As he determines the amount of gold in each piece, McMullin hears the stories, the origin of the pieces, how desperate some owners are for the cash during this economic crunch.


"The majority are just going through pieces they haven't worn in years," he said. "Unfortunately, there are some who are gathering up pieces because of hard times."


One woman brought in "a whole collection of jewelry," McMullin said, worth $50,000 if purchased new. She planned to give the money to her two grown children, both behind on their mortgages.


Zdroj: redding.com

28.03.2008

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan

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