In February 2009, a Star Tribune report comparing prices paid by gold buyers identified the Gold Guys at the Mall of America as paying the highest prices. In November, I wrote that Wixon Jewelers in Bloomington paid the highest. That same month, KARE 11's report showed Uptown Pawn paying the highest.
Why so little consistency? Gold buyers paying the highest prices yesterday don't always pay the highest prices today. Prices can fluctuate when a retailer decides temporarily to match or beat a competitor's rate to see whether it brings in more business, said Paul Runze of Grove Coin. It's also possible that some dealers literally see the media coming. Just as reporters have a nose for news, some gold dealers can smell a reporter and offer higher values when they do.
This has to do with what we are learning in class because gold is what started it all. Back in the day when the gold was the form of money, it is how the banks started and came to be what they are today. Without the buying, selling, and finding of gold, banks and money would have never been started. Gold these days however is used just as a valuable item and its prices may vary from seller to seller so this article is telling us to research the buyers prices to get the most out of your gold.
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