by Brad Woodard / 11 News

khou.com

Posted on November 9, 2010 at 7:30 PM

HOUSTON -- At the Houston Gold Exchange on Westheimer, the rush is on to sell items, the store’s owner said.

"Just this morning these people came in, and they had a variety of diamonds, gold, a necklace they haven't worn in 20 years, and they got a shade over $11,000 for the package," says owner Brad Schweiss.

Just down the street at Houston Jewelry, it's the same story.

Founded in 1953, the west Houston jewelry store has been paying out anywhere from $15,000 to $40,000 a day for gold and silver, which is at record levels as well.

"Silver is touching $28 an ounce," said Rex Solomon of Houston Jewelry. "Historically, silver is in the $5 to$8 range per ounce."

The obvious question is, how do you know you're getting a good deal? For starters, do your homework and seek out a buyer that is well established.

"They can't be in business for long if they're not legitimate," Solomon said. "That should be the first sign. If it's something that just popped up, I wouldn't sell to them."

And if you do, Solomon said seller beware.

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