WEBVTT 00:00:00.000 --> 00:00:01.341 Well, tonight I called around 00:00:01.341 --> 00:00:02.701 to several jewelers and other 00:00:02.701 --> 00:00:04.300 businesses that buy gold. 00:00:04.300 --> 00:00:05.181 Most of those who answered 00:00:05.181 --> 00:00:06.601 the phone said they were too 00:00:06.601 --> 00:00:07.540 busy to talk. 00:00:07.540 --> 00:00:08.701 One said he had a line of 00:00:08.701 --> 00:00:10.220 people standing at his counter. 00:00:10.220 --> 00:00:11.941 We were finally able to sit 00:00:11.941 --> 00:00:13.341 down with a jeweler after 00:00:13.341 --> 00:00:14.980 normal business hours. 00:00:15.380 --> 00:00:17.541 2008 crash was the last time 00:00:17.541 --> 00:00:18.560 it was crazy. 00:00:18.560 --> 00:00:20.261 Angelo Parisi is a gemologist 00:00:20.261 --> 00:00:21.640 at Arden Jewelers. 00:00:21.640 --> 00:00:22.861 It is a time of history 00:00:22.861 --> 00:00:24.861 where the assets in your 00:00:24.861 --> 00:00:26.721 jewelry box have shot up so 00:00:26.721 --> 00:00:28.181 high and so fast 00:00:28.181 --> 00:00:29.701 that if you can leverage them 00:00:29.701 --> 00:00:31.721 to help your family out, it 00:00:31.721 --> 00:00:32.820 could really move the needle. 00:00:32.820 --> 00:00:34.341 He says the shop is very 00:00:34.341 --> 00:00:35.581 busy lately with people 00:00:35.581 --> 00:00:36.921 looking to do just that. 00:00:36.921 --> 00:00:39.500 This is a one-ounce gold coin. 00:00:39.500 --> 00:00:40.801 Two years ago, it was worth 00:00:40.801 --> 00:00:42.240 about $2,000. 00:00:42.240 --> 00:00:45.640 One year ago, around $2,500. And today? 00:00:45.640 --> 00:00:48.661 $5,000 an ounce is what pure 00:00:48.661 --> 00:00:52.620 gold is trading for globally. 00:00:53.080 --> 00:00:55.261 But Parisi's passion is jewelry. 00:00:55.261 --> 00:00:56.521 When someone brings in 00:00:56.521 --> 00:00:58.180 something like a necklace for sale, 00:00:58.180 --> 00:01:00.260 he first gives it the magnet test. 00:01:00.260 --> 00:01:01.521 And this one's magnetic, so 00:01:01.521 --> 00:01:02.660 that means it's fake. 00:01:02.660 --> 00:01:04.160 So we give that one back, 00:01:04.160 --> 00:01:05.141 and this one, we figure out 00:01:05.141 --> 00:01:06.000 how much it's worth. 00:01:06.000 --> 00:01:07.221 He looks for a seal that 00:01:07.221 --> 00:01:08.700 indicates how many carats. 00:01:08.700 --> 00:01:10.081 The necklace then gets tested 00:01:10.081 --> 00:01:11.861 on a scale and an electronic 00:01:11.861 --> 00:01:12.820 gold tester. 00:01:12.820 --> 00:01:14.800 You just pass a current through it. 00:01:15.180 --> 00:01:17.520 And it measures perfect 14 carats. 00:01:17.520 --> 00:01:18.721 This necklace turns out to be 00:01:18.721 --> 00:01:20.240 worth about $2,000. 00:01:20.240 --> 00:01:21.740 And I can give you cash or check? 00:01:22.420 --> 00:01:23.100 Wow. 00:01:23.100 --> 00:01:23.881 Yeah, that easy. 00:01:23.881 --> 00:01:26.720 This simple gold band, $235. 00:01:26.880 --> 00:01:28.540 And this ring, Parisi says, 00:01:28.540 --> 00:01:31.081 contains about $530 worth of gold. 00:01:31.081 --> 00:01:32.621 But you add the ruby and the 00:01:32.621 --> 00:01:34.121 diamonds on it, and it's more 00:01:34.121 --> 00:01:35.520 than $1,100. 00:01:35.520 --> 00:01:37.501 This fish, he says, is worth 00:01:37.501 --> 00:01:39.000 much more than its gold. 00:01:39.000 --> 00:01:40.541 This is going to be somewhere 00:01:40.541 --> 00:01:43.180 in the neighborhood of $3,500. 00:01:43.820 --> 00:01:45.980 It's a very high-end piece. 00:01:45.980 --> 00:01:47.341 This is art. 00:01:47.341 --> 00:01:49.021 Parisi is passionate about 00:01:49.021 --> 00:01:50.621 what he does, and not just 00:01:50.621 --> 00:01:51.661 because it's the family 00:01:51.661 --> 00:01:53.540 business and what he got his degree in. 00:01:53.540 --> 00:01:54.340 I love Sacramento. 00:01:54.340 --> 00:01:55.421 I want to offer this service 00:01:55.421 --> 00:01:56.540 to my community. 00:01:56.540 --> 00:01:58.220 So that's why I do this. 00:01:58.220 --> 00:01:59.221 And right now is a great 00:01:59.221 --> 00:02:01.380 time for both buyer and seller. 00:02:01.380 --> 00:02:02.681 So if you bring me a nice 00:02:02.681 --> 00:02:03.921 gold chain that's in great 00:02:03.921 --> 00:02:05.881 condition, I can actually pay 00:02:05.881 --> 00:02:07.101 a little bit more than the 00:02:07.101 --> 00:02:08.021 gold market for it. 00:02:08.021 --> 00:02:09.561 Because I can sell it for a 00:02:09.561 --> 00:02:10.620 little bit more than gold market. 00:02:10.620 --> 00:02:13.140 And then it's a win-win for both of us. 00:02:13.480 --> 00:02:15.341 To sell jewelry to a shop 00:02:15.341 --> 00:02:16.561 like Arden Jewelers, you do 00:02:16.561 --> 00:02:18.041 have to show ID, leave a 00:02:18.041 --> 00:02:19.401 signature, and a fingerprint. 00:02:19.401 --> 00:02:20.921 That helps limit the sale of 00:02:20.921 --> 00:02:21.620 stolen items. 00:02:21.620 --> 00:02:22.601 And the Sheriff's Department 00:02:22.601 --> 00:02:24.301 requires a seven-day hold 00:02:24.301 --> 00:02:25.821 before the store can alter or 00:02:25.821 --> 00:02:26.481 resell it. 00:02:26.481 --> 00:02:28.461 As for what is driving up 00:02:28.461 --> 00:02:29.820 the price of gold like this, 00:02:29.820 --> 00:02:31.960 that is a long story for another day. 00:02:31.960 --> 00:02:33.281 But there are geopolitical 00:02:33.281 --> 00:02:35.101 factors in play as governments 00:02:35.101 --> 00:02:36.641 look to shift away from more 00:02:36.641 --> 00:02:38.240 volatile currencies.