GRAND JUNCTION, Colo. (KKCO) - The price of gold is way up these days and one Fruita woman thought she would get in on the action.
Carolyn Larson has 11 years experience in the jewelry business. "I heard about gold buying on the Internet and I put it on the back burners," says Larson, a gold party entrepreneur.
But with a 31 percent surge in gold prices just this year, she thought she should cash in on her knowledge. "I do gold parties," she says.
Larson hosts gold parties, where she invits people to bring their old, broken and mismatched gold and turn it in for money. It's easy enough. For a small cut, Larson will check it, weigh it, write you a check and send it off to the refinery for you.
"What ends up happening is people come to the party, they're a little skeptical and then they start seeing the checks roll in and then they go home and gather everything they have, " says Larson.
Larson says the average check is around $300 and she pays out according to the gold market. "I have to keep up with what the gold closes that day and I pay according to what the gold prices are when I walk out the door," says Larson.
And her gold parties are really catching on. "It's a really good time because gold is expensive and there's a lot of people that have financial issues in the Valley and it's helped out a lot of people," says Larson.
Larson even recruits other hosts who receive 10 percent of profits for their party's sales. "Well I'm going to host again, because it was just a huge success and I had some friends call and ask if I was going to do this gold party again," says Marsha Baldwin, a new gold party host.
Baldwin had one gues leave her house with a check for $1,200.
"If you can help other people make a little money out of what's sitting in your jewelry box, I think it's a win-win situation," says Baldwin.
And with many struggling to pay the bills, selling your broken jewelry isn't a bad deal.
"Right now with the economy, everybody just needs a little extra, especially to get through the holidays," says Baldwin.
For Larson she started buying gold to make a little extra money on the side, but ended up winning big when she realized how many people she was helping out.
"There was a lady I know, who I wrote a check for, and she was really happy because she said it was going to be two house payments for her," says Larson.
Larson's next gold party will be held to raise funds for the Sam Safken Foundation. The party will be Dec. 10 from 2 - 7 p.m. at 628 Glacier Drive in Grand Junction.