Posted on 12/20/2009 4:27:29 PM PST by danielmryan
ROWAYTON, Conn. -- The 1950s were big for Tupperware parties. The 1970s were hot for Mary Kay cosmetics. As this decade hobbles to a close, a new kind of social gathering is invading America's living rooms: the gold party.
Shannan DeCesare, 40 years old, brought four gold chains, two unloved bracelets, some earrings that had lost their mates and a couple of other old pieces to her neighbor's house here last week. Minutes later, she was showing off a check for $610. "Merry Christmas to me!" she exclaimed amid applause from the small group of women clustered around host Christine Smith's dining-room table. "Don't tell my husband," she joked, as she pondered how she might spend the loot.
Worries about inflation have pushed gold prices above $1,110 an ounce, up 50% from a year ago. And many people stung by the weak economy are looking for discreet ways to raise extra cash without sneaking down to the pawnshop.
As a result, gold parties are booming, creating opportunities for aspiring entrepreneurs—and a new worry for regulators....
(Excerpt) Read more at online.wsj.com ...
These parties are all frauds.
I need to find the link to a report on why this is true, but it involves everything from changing the ounce measurement used to underestimating the carat, and much more.
“When I heard about the gold party from a neighbor, I thought it seemed like a safer bet because it’s through somebody I know,” said Ms. Peterson.
If only we could develop an energy source that utilized naivete as its fuel, our energy future would be guaranteed.
Yes, the Flertners down the block are now gold experts. And, when I take them all my junk gold, they will treat me real well because they know I get this kind of gold all the time and will be back to sell them more.
There will be some very tawdry “blew up our friendship” stories coming out of this phenomenoid, count on it. Then we’ll see the articles in Cosmo/Redbook...”my good friend gave me two glasses of cheap Merlot and ripped me off when I sold her my engagement ring for thirty five dollars...I found out later it was worth $450! I feel so....so....used!”
People get SO ripped off at these things it’s not funny.
***The 1950s were big for Tupperware parties.***
How many noticed that when Luke Skywalker (STAR WARS)sat down with his aunt and uncle to eat he was drinking from a Tupperware container.
We had one just like it.
This is terrible. If you’re actually buying gold as an investment you don’t need to have it in your house or around your neck. You just open a brokerage account and buy gold futures, like any other commodity.
Just like if you were to buy oil, you wouldn’t need to clear space in your garage for barrels and barrels of it ...
you’re right and it’s more likely inferior gold.
Gold Party? invite me if you have bars-forget the jewelry
you’re right and it’s more likely inferior gold.
Gold Party? invite me if you have bars-forget the jewelry
Our house is still full of Tupperware from the 1950s. That stuff will outlive us all and be found by archeologists thousands of years from now.
yes, ppl will really get ripped off, and in other cases they will later believe they were ripped off whatever the facts may be..... especially when someone sells an item of personal significance, or later imagines the object was worth much more, etc.
I also feel bad for anyone who is selling 24kt or 90% gold items like coins or bars as these are bought and sold at their spot price.
nothing shows off blue milk better :)
thnask fro psoitgn form pretteh to kitteh -rpiecelss
Or Gold becomes $2000 an ounce or more.
Paper gold? Many these days believe that there’s manipulation of the gold price and there is more paper gold being sold than actual gold available for delivery.
I’m amazed that you would disparage people selling Gold Certificates , I have it on good authority that those certificates are every bit as valid as the “discount cruise certificates” I get in the mail on a weekly basis.
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