Get Rid of Your Gold, You'll Make a Fortune

By Claire Kellett, Anchor/Reporter

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By Daren Sukhram

Story Created: Nov 6, 2009 at 9:56 PM CST

Story Updated: Nov 6, 2009 at 11:27 PM CST

CEDAR RAPIDS - Do you have any gold jewelry you never wear because it's outdated or broken?

Well, dig it out because the precious metal might cover your next mortgage payment or help ease the financial shock of holiday shopping. One woman from Monticello says you'll be shocked how much it's worth.

Denise Arduser is always searching for good deals. But this time, she happened to stumble across one at Siegel's family jeweler in Cedar Rapids.

"I'm actually a big garage sale person, and I admit I get a lot of things very cheap. And so to bring them in and find out they're worth a lot of money is awesome," said Arduser.

Arduser is talking about bringing her old or broken gold jewelry to Siegel's and walking away with money.

"The first time was almost $200, I think. The second time I actually walked out with a check for $866 dollars."

Friday, she got $130 dollars for three rings.

"We've had people almost tear up when they find out how much," said Ken Siegel.

Siegel says right now, it's not unusual for his store to give someone hundreds even thousands of dollars for their gold. That's because the price of gold per ounce is at an all-time high.

"It's gone up about 20 percent. It was in the mid $800, and now it's $1,100.">

With gold being at $1,100 an ounce, Siegel's is seeing a lot more people selling gold.

"This is pretty historic in the amount of gold we purchase everyday," says Siegel.

And it's not just gold jewelry.

"A filling from someone's tooth apparently, yes," says Arduser.

Arduser found dental gold in a jewelry box she bought at an auction and was shocked she could get money for it.

"Yes I was, but I guess gold is gold," says Arduser.

And gold is worth a lot of money right now.

Siegel's says they pay anywhere from 65-100% of the gold's value, based on the resale value.

Next Article For Cedar Rapids, Proposed State Aid Hinges on Local Tax Approval

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