Because of the recent recession, people are struggling to find new ways to save and make money. With the price of gold reaching record highs of well over $1,000, ads have prompted millions to look through their valuables for rings, chains, and coins they are willing to part with.

However, Washington state Attorney General Rob Mckenna has cautioned people from little known companies that promise fast cash. This has created an industry tailor-made for a recession and a hotbed of opportunity for consumer scams. The recession itself is responsible for creating this trend among scammers.

McKenna offered these tips for selling gold:

Understand what you have

Have the item(s) appraised. While not required by law, reputable U.S. jewelry makers stamp pieces to designate karat level and include the name or trademark of the company endorsing the mark. However, misleading or fraudulent jewelry markings are not unheard of.

Going to a jeweler for an appraisal will yield the most accurate results. Scrap values don’t reflect the craftsmanship or antique value. You can find credentialed appraisers at the websites of the National Association of Jewelry Appraisers and the American Society of Appraisers .

Shop around

There have been many instances where people who could have got decent money have been fooled because they did not take the time to look around.

Since the price of gold fluctuates, call businesses on the same day to ask what they pay for gold. As nice as it would be, you will not be compensated $1,000 for every ounce of gold you have but at least you can make some decent money out of this. That figure applies to quantities of pure gold only.

Beware of superlative ads

Many ads claim that they pay the highest prices, do not believe these ads. Many reputable companies stay away from these claims and will quote their prices upfront.

What if someone could make gold from anything? Impossible right. Imagine what the world could have been like had someone found a way to do this. Centuries ago, great thinkers like Leonardo Da Vinci had tried and failed at it.

Alchemy was a science that tried to turn normal metals like lead and iron into gold, it was the beginning of what we call today chemistry. Birds were thought to be the symbols of alchemy. Phoenix, Raven, White Swan, Peacock, and Pelican corresponded to an inner experience and inner dimension of spiritual being. The alchemist or the poet who observed the birds saw an image of the human soul going through a development that freed it from the earthly things, because the birds took flight between the physical and spiritual worlds and, if they landed, they landed on the Tree of Life or the Stone of wisdom.

Gold was of great value in the olden days when a kingdoms fate depended on the amount of gold present in the treasury. Great wars were fought and lives were lost because of this metal.

What would have happened if some scientist had been successful at alchemy? Gold would have become just an everyday metal just like iron or aluminium, wars would not have been fought for it, countries and continents would not have been conquered and thousands of lives would not have been lost for it.

We should thank alchemy because it had given birth to chemistry which has made life easier for us. We are able to use a plastic bucket, receive vaccines for diseases and do many more things.