Make money on old jewelry/coins

January 7, 2009 10:46:36 PM PST
A lot of people are looking for extra cash right now and today we found some folks who are getting just that. They are cleaning out jewelry boxes and digging up old collections.Broken gold or old coins may not have much value to you, but it can bring you serious cash. And more people than ever are turning up to sell off their stuff.

Ten bucks for a dollar coin? It depends on the coin, but that is exactly the offer Elizabeth Beling got for just one coin in her collection.

"I think it is very good that I can sell them," she said. "I have had them for a long time, they were not doing me any good sitting at home in the safe."

Beling's coins and old paper dollars brought her more than $600.

"I thought it was just time to get rid of them," Beling said. "It was something that I needed to do for a little bit since the death of my husband."

Beling's old currency will be sold off to collectors. Matt Dugan, the appraiser who looked at the goods, says most people have no idea what their old coins can bring.

"Not everything is extremely valuable," he said. "Only the ones that are rare are the more valuable coins, that's what we are hoping to find."

While you may not have turn of the century bills, you probably have something of value in your jewelry box, even if it's not in perfect condition. Right now precious metals are bringing in more than a pretty penny.

"The economy has worsened, but luckily the precious metal prices, the coin, the collectible, jewelry prices have held up, it's the one area that has held up," said Todd Tyre of Tyre, Bailey, Roberts and Associates.

Tyre brings his traveling estate sale to Houston every year. This year, Tyre says business is booming.

"It is as good as it has ever been, our schedule is packed, we have more cities than ever planned," Tyre said.

Not everyone likes the offer they get. Annette Reynolds bracelet is 14 karat gold and that brought the offer down to $1,000, not enough for Reynolds.

"It's too sentimental to sell for that," she explained.

The estate buyers are also are looking for costume jewelry, silver ware and platters. They even buy old watches. The buyers will be town through Saturday. The estate buyers are at the Holiday Inn on the West Loop near The Galleria.

It's a good idea to get your items looked at by at least one other person. That way you can compare the offers. In fact the estate buyers recommend you do that before going to see them.

And remember, if you don't like an offer, you can walk away.

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