Investing in pure gold

November 24, 2009 Paul Unger is cashing in on a golden opportunity.

"It has the four gold coins plus the rare silver eagle.

Paul bought this coin set for $999 by mail directly from the U.S. Mint back in 1995. And today he's getting a check for a lot more, try $5,400!

So should you go for the gold and buy or invest right now?

"It's a gamble. People that traded in 3 or 4 weeks ago said, oh gold isn't going to go any higher. It hit that new high. It's over a thousand and fifty-dollars. It can't go any higher and here we are knocking on the door at 12-hundred," said Richard Weaver of the Delaware Valley Rare Coin Co.

But if you want to play Delaware Valley Rare Coin Company is one place to do it.

"We buy and sell bullion, rare coins, and collectibles."

Bullion includes pure gold bars. You can place an order at many reputable coin dealers and at some banks. You can also invest by buying gold on the stock exchange. But the most popular way to invest in gold is buying coins.

Some popular gold coins are the South African Krugerran, Canadian Maple Leaves, American Gold Eagles and St. Gaudens.

And here's a tip: never clean or polish gold coins.

"A collector wants a natural coin."

Gold parties are about food, friends, and fortune! Guests learn how to turn their old jewelry into cash by using a mail service company called Red Swan.

"I sort of thought it would be a good idea to get rid of some things that I don't use anymore and I thought this was a perfect opportunity," said Holly Nelson.

Nelson is sending the Narberth-based company a bracelet and a pair of earrings. Tari Lawson is sending in a necklace and earrings.

"Red Swan turnaround is very quick. We get your box, evaluate your items, and we send out a check in as little as 24 to 36 hours," explained Jamie Forman of Red Swan. "We do pre-insure these boxes for up to 500-dollars. If you believe that you are sending an item worth more than that, we would advise spending two or three dollars to insure it. That is the only time you would spend money with Red Swan we want to make that clear."

Red Swan appraiser Dan Buerk looked at our ladies jewelry and says even broken, tangled, outdated jewelry can be worth a lot of money!

"What I think a lot of people don't realize is that they're holding onto a commodity that's increased in value."

So now to the results: Tari is getting 189-dollars for her earrings and 492-dollars for her necklace.

"I can't believe it!"

Holly is getting 330-dollars for her bracelet and 110-dollars for her earrings.

"That works for me!"

And if, like Sandi Kirschner, you host a Red Swan party, your pot of gold may seem bottomless! Red Swan's referral commission is 8-percent!

"I was thrilled about it."

Sandi is donating all her proceeds to charity.

Red Swan has a 10-day return policy, which means 10 days from the date of the check, if you're not happy with the amount you're getting or you're having second thoughts about selling the jewelry, you can send the check back to Red Swan and the company will mail you your jewelry back.

Now there are other companies that offer to buy your gold and you need to be very, very careful. Red Swan has an A rating with the Better Business Bureau but another company that advertises very heavily has an F. Before sending your jewelry, check out the company with the BBB and do an internet search of its name. This is very important.

Copyright © 2023 WPVI-TV. All Rights Reserved.