MARYLAND – Many of us have random gold and silver jewelry or coins at home, just waiting for the right time to cash in. The question is, how much is that treasure worth now, and an even scarier question, are your valuables valuable at all?
Imagine spending your hard-earned money on a gold or silver coin, just to find out, it’s a fraud. Well sadly, that’s what some customers experience, and according to John Robinson Sr., it can be hard to spot the difference. He is the owner of Robinson Family Business, and says the price of gold has doubled since covid and in July of 2024, the price of gold hit a world record. “The reason gold and silver are going up is, the lack of faith in the U.S. Dollar for one. And then, the fact that, overseas a lot of the countries have switched to backing their money up with gold and silver and they’re going to the bricks and getting it off the federal reserve.”
John says he can make over a million dollars weekly just from the sales of gold alone, but that doesn’t just come from customers ‘cashing in’. “People are really buying gold more than anything. I get a little bit of both don’t get me wrong. But I think people are buying and investing in gold and silver more than they are actually selling it. It’s a smart time to invest in gold and silver, it’s not going to really go down.”
Ken Sehman The Jeweler sells retail jewelry pieces and does a lot of custom designs. his very own ring was purchased at approximately $1,000 and he says is worth almost 6 grand now. He says the rise of gold and silver also affect his business as well. “Especially when ordering items, gold chains, special order wedding bands- the price of the item is based totally on the gold rate of that particular day.”
Robinson says though the prices are currently high, it’s never a bad idea to invest- smartly that is. “I say, you should buy one ounce of silver a week, it’s $30 It’s going to be a good thing to do. I got my son doing that when he was 10 years old, and now he’s got like $40,000 worth of silver just sitting there that he doesn’t even notice that he purchased.” He also has a word of advice for the public. “The one thing I say it, If you’re buying gold and silver, for under the prices of gold and silver, it’s too good to be true.”