What is a Gold Party? Making Money Selling Your Gold

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Cash for Gold Explained

Women have jewelry boxes full of forgotten gold trinkets, knotted gold chains and at least one unmatched earring. Now they can make money by selling them at a Gold Party!

Home parties have been a point of angst for many who don’t like to have to sit through a product demonstration and feel obligated to make a purchase. Look in any home and you’ll probably find Tupperware, Pampered Chef, or Mary Kay products. Finally, a new kind of party has been born where the guest sells rather than buys: A Gold Party!

What is a Gold Party? Making Money Selling Your Gold
Gold Party is a good idea for women – image by stocksy.com

Why Attend a Gold Party?

Selling of gold has become increasingly popular due the economic crunch and the current value of gold. There are many websites that provide offers to review gold items and send a payment once a value is determined. Most individuals, however, are a bit hesitant to place their gold in a mailing envelope and trust a company of this nature.

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There are many websites for selling gold – image by cashforgolddelhincr.com

When they attend a gold party, the money is in their pockets immediately! Gold is at an all-time high right now at around $900 an ounce, so it’s a good time to sell. Since these are financially stressful times, selling gold at one of these parties is an easy way to make some extra cash for something that won’t be missed. Charities are using the Gold Party idea to raise money and it could also be a money-making idea for schools.

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When they attend a gold party, the money is in their pockets immediately – image by wikihow.com

What to Expect at a Gold Party

There are many companies that offer home based parties and buy gold. One such company in Phoenix, Arizona is Gold Gatherings. During their parties, a professional jeweler/gold broker will assess all items brought to the party to determine the quality of the gold (i.e. 10k, 14k, or 18k), and its weight.

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Professional jeweler will determine the quality of the gold – image by empirepawn.com

If concerned about a Gold Broker, it would be advised to do some homework on the company before the party. Here’s how the Gold Gatherings parties operate:

The gold analysis is set up in a private environment away from the rest of the party. The Gold Broker does not disclose the payment results to anyone but the recipient.; sharing that information is up to that individual.

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The gold analysis is set up in a private environment away from the rest of the party – image by thebangkokpost.com

Here’s how it works:

  • One person at a time sits with the jeweler as their jewelry is assessed.
  • The jeweler removes any gems from the gold and tests each piece for gold purity.
  • The jeweler makes a bid based on the fineness of the gold, and its weight.
  • If you accept the bid, you sign an acceptance form and you are paid in cash.
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Gems will be removed from the gold – image by gemstoneguru.com
  • You receive any gems removed and the rejected items back.

The assessment takes less than five minutes overall. Cha-ching!

How Does the Jeweler Determine the Quality of the Gold?

Each piece of jewelry is tested through the used of a magnetic tool. Gold does not have magnetic qualities, so if the jewelry is magnetized, it is either made of some other metal or gold plated, rendering it unacceptable. When attending a party, the jeweler is happy to test anything that may be gold, so it doesn’t hurt to bring a questionable item to be tested.

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It’s ok to check things at gold party – image by polachecksjewelers.com

If there is concern for the actual value of a gold item, it may be advisable to try to determine it’s approximate value before the party. The owner can do this themselves or take the jewelry to a jeweler for an estimate. Keep in mind that any middleman needs to make something out of the deal, so don’t ever expect to receive the full value of the gold.

Gold Parties Have Nothing to Sell – Really!

A Gold Party is a true party. The guests mingle, eat and talk with one another. The best part is that almost every guest goes home with money. Even the hostess gets a share of the loot, as they are paid 10% of what each of their guests receive.

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Gold Party is true party – image by businessinsider.com

It’s as simple as that. All they have to do is dig out that tangled mess of chains, wedding bands from marriages gone wrong, gold earrings never worn and gold spoons or items that have no real personal significance. They bag ‘em up, set up a party and invite friends. Everyone will be happy they came, and probably end up having a party of their own!

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