Gold teeth, a £1,000 cigarette lighter and gold coins are some of the items that have turned up in pubs in England where gold parties are being organized by a company called partycash4gold to organize people to sell their their gold through these parties.
Similar schemes that involve mailing in gold in special pouches to a gold agency are quite well known, but the party concept hasn’t really caught on yet.
Both ideas come from the US and arrived in this country around two years ago, spurred on by the recession as well as the rising price of gold. Many pub goers liked the idea that they could sell their broken necklaces and single earrings at reasonable prices. The event is targeted at people who do not want visit their local pawn shop as they would feel uncomfortable and judged at a time when everyone is trying to save money.
But in a pub it’s a social environment where everyone is having a good time. The social aspect of gold parties in a pub takes away the inevitable emotional side of selling jewellery and other items that may bring up memories of other social occasions or loved ones.
The pubs receive 10 per cent of the money raised from the gold party. And if someone goes away and hosts their own gold party, the pub will get a further three per cent of the total sales from this too.