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Gold Soars: Time To Sell Nana's Jewels?

Updated on: February 22, 2011 / 8:04 AM EST / MoneyWatch

Gold is once again hovering over $1400 an ounce, which begs the question, is it time to unload your grandmother's bracelet or grandfather's watch?

I know it may seem callous, but if there's old jewelry hanging around the bottom of your drawer, it could translate into a little extra cash right now. But be careful--the scam artists are out there, as you have probably seen on late-night TV and in pop-up ads online.

If you are ready to take the plunge, here are the do's and don'ts on selling gold:

Jill Schlesinger

Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.

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