New Cash 4 Gold shop offers cash for your broken bling

Want to shed your gold and silver for a quick buck? Rhoda Rak is the woman to see.
Melissa Topey
Feb 15, 2013

Rak opened Cash 4 Gold last month on Milan Road near Sandusky Mall, in a complex housing a laundromat and car wash. 

“We're not selling jewelry," Rak said. "We only buy gold, so we're able to offer a better buyout price."

While the offered price depends on the ever-changing market, the last few years have seen increased prices for gold and silver. 

Gold prices also depend on the quantity of the precious metal, such as 24 Karat or 10 Karat. It can range anywhere from $15 to $21 an ounce. Silver averages about $30 an ounce.

Rak's store buys gold, silver, sterling silver — old silverware sets, for instance — platinum and old coins minted in 1964 or years prior.

The shop then sells the material to companies that melts it down.

This is Rak's second location, following the 2010 opening of a cash-for-gold shop in Lorain.

Customers bring in old jewelry they no longer wear, broken jewelry, a single earring when the other has been lost, wedding rings after a divorce, and items found in garage or estate sales.

People typically use the extra cash to pay bills or buy new jewelry, she said.

The shop is managed by Laurie Budd, who recommends people to stop in with their items so she can offer a free assessment. During the process, she explains everything she's doing.

“All done right before you,” Budd said, assuring an item never leaves someone's sight.

Rak and her husband also operate an e-commerce business that sells whirlpools, hot tubs, steam showers and the like. They went into the precious metals field after seeing the success of a business acquaintance.

“We saw the traffic he got into the store and how excited the customers were to get money,” Rak said.

 

Sandusky Cash 4 Gold

Where: 4307 Milan Road, Perkins Township 

Phone: 419-502- 5900

Hours: 10 a.m. to 6 p.m. Monday through Friday; 10 a.m. to 4 p.m. Saturday

 

Comments

BW1's picture
BW1

You need to read more carefully; none of what you're saying has any relevance to the posts to which you're responding. No one has said what you think they did.

DGMutley

Predatory. Capitalizing on those that can least afford it. Paying 50 percent for gift cards. Cash now, cash in your structured settlement. Lottery tickets. Pawn shops, gold and silver exchange. Impound fees, towing. And on.

The one that really bugs me is my bank charging a check cashing fee to my babysitter who goes to my bank to cash my check. I have to write a $25 check so that she can cash it for the $20 I owe her.

BW1's picture
BW1

"Predatory. Capitalizing on those that can least afford it. Paying 50 percent for gift cards. Cash now, cash in your structured settlement. Lottery tickets. Pawn shops, gold and silver exchange."

More like freedom. No one is forced into any of those deals at gunpoint. You can readily find deals to get 80% or more for your gift cards, and no one made you buy them, or have friends to inconsiderate to put more thought into gifts. The markdown at pawn shops and metal exchanges are the cost of poor planning and badly allocating one's resources. Structured settlements are negotiated by the beneficiary or by someone who answers to the beneficiary. Time is money, convenience is money, so pick your priorities.

As for your bank, where do you get off assuming that they would set up, run, and maintain all the infrastructure for processing checks out of the goodness of their hearts, just so you wouldn't have to be organized enough to get cash ahead of time for the baby sitter? Are all their employees also supposed to work for free because you're either too lazy or disorganized to stop at an ATM? If your babysitter had any business sense, she'd tell you to make it $35, charging $10 more for her time in having to go to the bank.

Lack of organization, self-discipline, willpower, foresight, math skills, or good priorities on one person's part does not constitute a reason to forgo earning a living on another person's part.

Pages