Photo by Daniel Varnado
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By Katie Bishop
Cherokee Tribune Staff Writer
Gold prices have risen, and the people - and libraries - of Cherokee County are cashing in.
With the dwindling economy, and the increased need for money, buying and selling gold has become a more lucrative venture.
R.T. Jones Memorial Library in Canton will host a "Scrap Gold Event" from 2 to 8 p.m. on Thursday through Arnie Shapiro's Gold Fund Raising Concepts Company.
The Cobb County-based business will assess gold brought in by library patrons, weigh it for value and then buy it from the customer based on the going price of gold. An immediate check will be cut, or cash will be given at the time of sale.
The Sequoyah Regional Library System benefits after the company sends all the gold to the refinery where it is melted down. Once the full value is determined, 70 percent of the profit will be given to the library with the rest kept by the company.
Shapiro, who has conducted similar events at synagogues and churches and for sports teams, said helping the library system fit with his goal of serving the community.
With recently shortened money leashes, the sale was a golden opportunity for the library system, said Chuck Anderson, its public relations official.
"Budgets have come under fire," he said. "Anything helps."
Though gold prices may drop by small amounts on some days, the market for gold seems to be steadily climbing, according to those in the industry.
"It's a very good time to sell your gold," Shapiro said. "In the last year, the price in gold has gone up about 30 or 40 percent."
Gold prices closed on Tuesday at $828.10 an ounce, after earlier in the day rising to $853.60, its highest level since Aug. 11. Prices hit a record $1,033.90 in March.
Cherokee residents are ready and willing to sell their gold, according to Doug Key, owner of Key's Jewelry in downtown Canton
"Selling [gold] for sure is popular right now from what I've seen," he said of the trend. "I think it's national, but local as well."
kbishop@cherokeetribune.com
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