Oklahomans Join Modern-Day Gold Rush

Monday, August 22nd 2011, 7:24 pm
By: News 9

Darren Brown, News 9

OKLAHOMA CITY -- When the U.S. economy is down, the price of gold usually goes up, but even most gold buyers didn't expect today's "gold rush." 

Jerry Gray opened Cash N Gold just two years ago.  His store provides a walk-up service for those seeking to sell their used gold.

"When we first opened gold was somewhere around $600 to $800 an ounce," Gray said.  "Y'know it's almost $1900 today." 

June Sandvik brought in items that she found after some house cleaning.

"A little bit of this and a little bit of that," said Sandvik.  "Cleaning out the cupboards."

Class rings, broken earrings and coins are all tested, weighed, and even x-rayed to determine the amount of gold inside.  With all the jewelry that comes through the door, Gray claims that any sentimental ties are usually broken once customers find out what their items are worth in cash.

"I think the dollar amount changes their mind," said Gray.  "They're pleasantly pleased when they come in and find out that it's worth what it is."

Sandvik didn't expect much from the small pile she brought in.  

"Yeah, enough to go eat lunch," she said.

After her items were tested and weighed, Sandvik walked out with close to $1000.  Asked if she was planning on looking for more, she shook her head.

"Not unless I can find my other crown," she laughed.  "It fell out."