Gold rush for the holidays - Cincinnati News, FOX19-WXIX TV

Gold rush for the holidays

HYDE PARK, OH (FOX19) -

Hyde Park Rare Coin is attracting more holiday shoppers looking to cash in their gold for spending money.

"They come in hoping to be able to afford a few more presents and instead of getting an iPod they're able to get their loved ones an iPad so it really brings a little extra cheer to the holidays," says store manager Zak Sauer.

Oakley resident Stacey Corley was shopping in Hyde Park when she decided to stop in and see what a few of her gold rings and bracelets were worth.

"I don't really wear gold anymore, I'm kind of getting into silvers so I was holding onto them for nothing," says Corley.

Nothing quickly turned into more than $1900 in cash.

"It is very close to what I was hoping. When I had gotten quoted before was quite a bit under that so I was very happy with it so that's why I took it so quickly," says Corley.

Sauer says the buying gold business is up about 20 percent thanks to people like Corley in need of cold hard cash.

But your jewelry doesn't have to be in top condition to get top dollar. Tangled, tarnished and broken pieces will still bring home big bucks.

"Ultimately what we do is send it to the refinery and melt it down, that's part of why we're able to pay such high prices. It's a quick turn over rate. If it's damaged it doesn't really make a difference to us," says Sauer.

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