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`Gold Party' Guests Leave With Big Bucks

Gold Parties, where guests sell their old gold items, are proving to be quite popular and profitable.

Gold Parties, where guests sell their old gold items, are proving to be quite popular and profitable.

Monday, May 10, 2010 17:39 GMT

NEW YORK (Wireless Flash - FlashNews) – In tough times, there’s only one kind of houseparty that truly favors guests.

With the price of gold currently at a whopping $1,200 an ounce, “gold parties” – where guests bring their gold jewelry and scraps to sell – are all the rage.

Scott Simon, owner of Premiere Gold Parties, says the profitable gatherings are unique because guests can actually make money instead of spending it like they do at other speciality parties.

He says the average guest and host walks away with $500 for their items like worn-out necklaces, clasps, and even single earrings.

The age and condition of the gold doesn’t matter because it’s all melted down anyway, so cash is given by weight, not quality.

Simon says the most common gold turned in for cash includes school rings, jewelry from ex-boyfriends, and those thick, outdated gold chains from the ’80s.

They’ve also paid big bucks for weirder items including gold teeth and gold fingernails.

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