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Selling gold for Christmas cash
Posted: 12.07.2011 at 6:45 PM
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KIRKSVILLE, MO. -- As the Christmas shopping season picks up, some people are going to all lengths to find some extra cash.

Kevin Phelps, the owner of US 24 Gold in Kirksville, said during Thanksgiving weekend, he saw triple the customers he usually sees on a normal basis.

He said with the price of gold rising again, and people trying to find money to buy Christmas gifts, business is up and he hopes it continues. Phelps said he's seen it all in terms of what people try to trade in, but one customer caught him by surprise recently when he started removing his teeth to get some cash.

"Gold teeth are worth more than what people actually think," said Phelps.  "So, they actually have some weight to them. I have people who come in with them quite a bit and they sell them. 'Do they take them out of their mouth?' 

"I actually had one person ask how much the gold price was and he did go and he did remove his teeth to sell them."

While interviewing Phelps, we asked him what types of tests he conducts to see if gold jewelry is fake. He said you can "look inside to see if you can see a 10, 14, or 18 karat stamp inside and make sure it doesn't say GF or HE because then that would mean it's gold filled," said Phelps. "You want to also take a magnet. Gold and silver do not stick to a magnet. If it sticks to a magnet, then most likely it's gold plated."

In addition to gold, Phelps said his company also buys silver, watches, coins and diamonds.

If you're wondering what you can sell that's actually worth something, Phelps said gold pocket watches, and women's old gold watches are worth a pretty penny. Also, he said things as simple as pre-1964 dimes, quarters, and half-dollars are worth two to ten dollars a piece.

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