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Anyone ever go to (or host) a Gold Party?

DustyCoinboxDustyCoinbox Posts: 206
in Precious Metals
A gold party is like a tupperware party - the host throws a party and friends bring their scrap gold. The host can select to purchase the scrap from whoever he/she wishes. Then, the host turns the scrap in to a refiner - presumably getting a better rate for a larger quantity and maybe making a little profit for themselves.

I kid you not. Check it out
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Comments

  • RedTigerRedTiger Posts: 5,608 ✭
    Instead of a moveable feast, it is a moveable "pawn shop?" I guess in a down economy some folks are desperate. My friends are not in such dire straits, or whatever other reasons might drive a person to sell gold jewelry or gold fillings.

    Might be more fun as a "coin party," where all items are put up for bid in a real auction. The host gets a small percentage. Seems like a lot less chance for hard feelings that way. Though in either case, if bad folks find out about the party, it could turn into a "give me all your valuables party," with bad guys showing up in ski masks with guns. The more I think out loud, the less I want to do these parties.

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  • DoubleEagle59DoubleEagle59 Posts: 8,323 ✭✭✭✭✭
    Back in the '80's everyone was hosting gold parties. They would go to the wholeseller and get a whole bunch of gold chain/earrings and bracelets. Invite everyone over (usually in a hotel room) and undercut all the big retail stores.

    Some people did very well at this for a few years.

    It got 'tired' after awhile and fizzled out.
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