KANSAS CITY, MO -
Gold is trading at an all-time high, and for many people the recent climb in value is a good reason to party.
'Gold Parties' are events, sort of like Avon or Tupperware parties, where attendees gather at a home to snack, visit, and perhaps make a lot of hard cash selling bits of unwanted gold.
"It started on the East Coast, and as gold has gone higher in price, they're becoming more and more popular," said Rick Vega of Gold Stash for Cash. "For example, this month alone, I'm doing six or seven of these parties in people's homes."
Gold on Wednesday traded at over $1,100 an ounce.
Jen Zingg is a typical gold party-goer. She showed up at a recent party with a few pieces of jewelry that she doesn't wear anymore, but she says that she didn't know what to expect.
"I have honestly no idea," said Zingg. "I just thought this the first home party that I can go to that I don't have to pay for something, that I can actually get money for something, so I thought, I'm going."
Zing says that she hoped her four pieces of jewelry might bring in around $150.
As it turns out, she was very wrong as she got over $800.
"Oh my gosh, that's good!'" said Zingg. "I'm shocked."
Vega says that the average pay-out he's been giving at the gold parties has been between $200 and $300. But he says that at one recent party, a person walked out with over $3,000 after unloading her gold. He says that the parties will continue as long as gold continues it's record run.
"There are some speculators that say it's going to go as high as $1,500 an ounce, maybe more," said Vega. "It's hard to tell, but they do not see it going back down considerably. The highs that we're seeing now, they're expecting it to continue there for the long term."
'Gold Parties' are events, sort of like Avon or Tupperware parties, where attendees gather at a home to snack, visit, and perhaps make a lot of hard cash selling bits of unwanted gold.
"It started on the East Coast, and as gold has gone higher in price, they're becoming more and more popular," said Rick Vega of Gold Stash for Cash. "For example, this month alone, I'm doing six or seven of these parties in people's homes."
Gold on Wednesday traded at over $1,100 an ounce.
Jen Zingg is a typical gold party-goer. She showed up at a recent party with a few pieces of jewelry that she doesn't wear anymore, but she says that she didn't know what to expect.
"I have honestly no idea," said Zingg. "I just thought this the first home party that I can go to that I don't have to pay for something, that I can actually get money for something, so I thought, I'm going."
Zing says that she hoped her four pieces of jewelry might bring in around $150.
As it turns out, she was very wrong as she got over $800.
"Oh my gosh, that's good!'" said Zingg. "I'm shocked."
Vega says that the average pay-out he's been giving at the gold parties has been between $200 and $300. But he says that at one recent party, a person walked out with over $3,000 after unloading her gold. He says that the parties will continue as long as gold continues it's record run.
"There are some speculators that say it's going to go as high as $1,500 an ounce, maybe more," said Vega. "It's hard to tell, but they do not see it going back down considerably. The highs that we're seeing now, they're expecting it to continue there for the long term."
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