That is exactly what a growing percentage of people are doing these days as the economic situation in the states continues to worsen, and the prices of gold continue to rise.

According to Steven Jacobs of the Associated Press:

“Instead of hanging on to the pieces as souvenirs, many are turning them over to pawnbrokers, coin shops and specialized firms that buy “dental gold,” hoping to take a bite out of the metal’s historic run to $1,000 an ounce.

Gold set a record of $1,038.60 an ounce on March 17 and has since fallen to about $920, but experts say it could soon resume its upward climb. Several precious metals analysts have even predicted $2,000 gold ahead as a global commodities boom pushes the price of raw materials further into record territory. That would roughly equal gold’s inflation-adjusted high of the 1980s.”

It is not uncommon for the average gold crown to fetch between $40 and $50 dollars in today’s market says Jacobs. Of course, pieces that are heavier will demand a much higher price in today’s market and large pieces are not uncommon. With the fears of a recession abound, it is likely that prices of gold will continue to rise and consumers will look to gold as an attractive option.

For further information, visit an article highlighting the “gold-for-cash” phenomenon at Telegram.com.

So, what are your thoughts about this new phenomenon? Will you be turning in your old gold fillings/crowns for cash?

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