The Truth About Gold Parties - Could Save You From Jail!

The Truth About Gold Parties

1.  In general, gold parties are illegal in the Mother Lode.  Unless the party is being held at an appropriately licensed commercial facility, and all the city, state, and federal regulations are being followed, gold parties are highly illegal.  You may know someone who is getting away with doing these parties at people's homes and not following all the applicable regulations.  But, as soon as one person sells stolen goods at one of his gold parties, you can bet the police will get involved, and the homeowner could also be charged as party to the crime.  Doing a gold party at someone's home is a misdemeanor in San Diego.  If there are transactions involving stolen property, it becomes a felony.  There are other felonious activities that may arise, such as ignoring or avoiding federal reporting requirements for large cash transactions.  It is not worth the risk, do not have a gold party at your house if you live in Amador, Tuolumne, Calaveras, Mariposa or Stanislaus Counties. 

2.  If you want to sell your gold for the least money possible, an illegal at home gold party is where you will go.  Your next best opportunity will be at a jewelry store.  If you want the most money for gold, sell it to us at Calaveras Coin & Pawn.  People are surprised to read that pawn shops typically pay more than jewelry stores.  But, just think about the mindset of the average jeweler.  Jewelers are accustomed to extremely huge markups.  They sell their jewelry for prices up to 20 times what they paid.  Unfortunately for their customers, jewelers typically apply the same mindset to buying gold, whereby the jeweler is not happy unless he is making a huge profit margin.  Also, jewelry stores typically have extremely high expenses.

3.  Another major problem with selling gold at a gold party is that most of the time it is just one gold buyer helping a dozen or more women.  There is no way he could have time to test all of the gold.  Make sure your gold buyer has enough time to give your gold a full evaluation.  Without a proper appraisal of your gold's value, do not expect to get the most cash for gold.

4.  At Calaveras Coin & Pawn everyday is like a gold party.  Since we are properly licensed and compliant as a fully regulated financial institution, we offer you a law abiding way to exchange your gold for cash.