[Jewelry making - Article 00354] - Re: [Orchid] Rising Costs Of Precious Metals

[diamondeddy2]

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    I was also in the jewelry trade during the last big runup in gold
    prices, like Greg mentioned he was. The same conditions existed for
    me, young and underfinanced, although I did manage to get my hands on
    aprox 50 lbs of old wornout plated Speidel watchbands that I sent in
    to a refinery, and I received a check for over $800. To this day, in
    my store I still save every used watch band as well as all the gold
    plated scrap that I come across that I take off in a replacement
    deal. I have several boxes stored in the attic of my shed, awaiting
    the next runup in gold prices. However, one difference between the
    bands of then versus now, is that the bands at that time were mostly
    goldfilled, whereas most bands today are plated, and the actual
    amount of gold is a fraction that could be recovered from the bands
    of that time period.It doesnt cost me a thing to keep them and can
    always appreciate a little 'vacation money' from nowhere. As they
    say, " One mans trash is another mans treasure". 

    Recently I read one commentary on Kitco, that suggested that gold
    could go as high as $10,000-$30,000 per ounce during the next few
    years. He gave his supporting theory, but still I wouldnt count on
    that too much. As others have suggested in regards to purchasing the
    materials that you need, simply buy what you need as you need it, and
    you will be just fine. If attempt to run your business in an attempt
    to beat the market, you'll most certainly be left holding the
    proverbial 'bag of doodoo'. Even if its golden! 

Ed in Kokomo

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