Time to 'recycle' your gold?
Space constraints kept my column from including one point that should be of particular interest to Earth to Philly readers: When you sell your scrap gold, you’re actually recycling it, since the gold is melted down into ingots, bullions and “shot” – small BB’s – for resale.
In today's Daily News, I wrote about the scrap-gold-selling trend that's sweeping the country, now that gold is in such high demand by mints. Space constraints kept my column from including one point that should be of particular interest to Earth to Philly readers:
When you sell your scrap gold, you're actually recycling it, since the gold is melted down into ingots, bullions and "shot" – small BB's – for resale.
"Instead of mining the earth for gold, which is so detrimental to the environment, we're recycling gold that's already been mined," Cynthia Walker told me. She's head of Goldmans East, the Yardley-based precious-metals company that bought my scrap gold (old and broken jewelry) for $48.33. "It's much better for everyone."
It would be easy to dismiss Cynthia's words as naked self-interest – after all, she's in the scrap-metal sales business, so she needs our stuff. But this month's National Geographicpaints a terrible picture of the cost of our global obsession with gold.
Mining the yellow metal has ruined landscapes, exploited the poor, poisoned gold workers and perpetrated internecine violence. The ruin is so vast, it can make you think twice the next time you linger at a jewelry counter, admiring the glittering necklaces, bracelets, earrings and tie tacs, all seductively displayed to entice a purchase.
It's something to ponder, if you're pondering whether to recycle your gold.