by KYW's John McDevitt
Gold parties, where you can turn things like that unwanted school ring into instant cash, are the latest rage in home parties.
It's kind of underground -- security concern with all that gold and cash around. The primary reason:
"You would definitely want to know everybody at the party just for security reasons."
Rick Hernandez is the owner of FH Goldbuyers at 717 Sansom Street, on Philadelphia's "Jewelers Row." He's the last step of a gold party.
The gold party works like this: a host or hostess organizes a gathering, and a buyer comes to your party:
"They weigh the gold right in front of you, give you an offer, pay you cash on the spot, have some drinks, you go on your way. And then they bring the gold back to us, and then we buy it off of them."
Hernandez says the person who throws the party usually gets a percentage or a flat fee from the buyer for hosting. He says the parties have become more and more popular in recent weeks as the price of gold reaches almost $1,000 dollars an ounce.
E-Mail Story
Print Story
