Cash for gold? Just wanted to know what they are collecting it for?

Question

If you've seen t.v. lately you might have come across a commercial about cash4gold.com. I just wanted to know why they'd be collecting the gold for? Any explanation? ...just curious

Answer 1

Why to sell it at a profit later, of course.

Gold has appreciated considerably over the past few years, and many people are not aware of how valuable their old jewelry could be. I don't have any experience with cash4gold or their competitors, so I don't know if they pay spot prices or not.  Even if they paid slightly less than spot, they should make a profit in the long run as the price of gold increases due to inflation.

Grandpa