Now Is The Time For Gold

The price of gold is soaring, which is good or bad

, depending on how you look at it. For amateur gold prospectors like my wife and myself, it is very, very good. We can go out to a river or site, and in a few short hours we can find enough gold to pay our bills for a month.

Likewise, a person with some old jewelry that has lost its meaning can take those rings, pennants, or necklaces to a gold dealer or jewelry store and sell them for a pretty penny. Even more interesting is the ability to take some of those former treasures and have them melted down and crafted into something special and new.

A friend of mine was recently honored by his fraternity and wanted a special ring to commemorate the distinction. The type of ring he had in mind was available through retail outlets, but the price was something that he wasn't interested in paying. Luckily, he had some old gold ring that were no longer of any sentimental value, and so he was able to take those to a qualified goldsmith, where he was able to have them melted and recast in a ring of his own design for a fraction of the price. I think that is a pretty neat way to reuse gold and silver.

Oddly enough, last night I watched a Japanese movie, set immediately before and during World War II. There was a scene where an older man was accosted by a women's organization campaigning against extravagance, and they told him that he should donate his ring so that it could be melted down to be used in weapons for the war effort. I can't think of a worse way to use gold and silver.

In another scene, as he was leaving his niece to travel home, he gave his ring to her guardian, making him promise that they never donate it, but that they sell it in order to buy the food and supplies that they might need. Economically speaking, there is no medium more stable than gold, in both good and bad times.

I look forward to getting out as soon as it's warm enough to do some prospecting. I have some good tips on where to find some gold, and a good gold dealer, willing to give me a fair price. If push comes to shove, I'll head out to someplace warmer for a dig or two. Nothing like gold to pay the heating bills.

by: Art Gib

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