Lean Times are Increasing Active Rationality

Economic times are lean, it’s not surprise that much of modern political debate focus around that issue. This article isn’t here to debate the various economic positions of the political candidates in the US but to explain one trend that has arisen as a byproduct of these economic times. The odd thing is that the Cash for gold trend may be pushing people to make decisions more rationally than they used to. It’s to the point though where people can find a cash for gold location in towns like Bensenville, IL and not just in big cities or the places you would expect it.

The first thing to get past is the impression that people only go there out of desperation. Most of the time cash for gold exchanges are about optimizing the value people have. When someone exchanges gold in for cash they’re making the decision that the cash they get back is greater than the value the gold has to them. Most often people are exchanging in jewelry they’ve inherited or collected over time and have no more use for. Anyone who’s ever been through an elderly person’s estate can see the amount of jewelry that accumulates over a life span. Sometimes even the most devoted and attached relative has to face the reality that the pieces are just going to waste and do more good by being sold.

One of the fundamental economic principles is that people make decisions to maximize their happiness. If they view the value of the gold as less than the value of the money then they are doing the right thing by selling it. Assuming that there is anything nefarious at work underestimates the intelligence of the people making the decision and treats them like children instead of adults. Mementoes of the past are nice, but holding onto more of them than you can keep track of just because you feel you should is a way to collect junk in a drawer. Realistically unless you’re rich enough to not need extra cash, selling jewelry that you don’t’ wear and you can’t keep straight is a good thing. You should pick out a few items you either enjoy wearing all the time, or have special meaning to your heart; otherwise you should sell off as much as you can for as much money as you can to maximize your returns.

Cash for gold in Bensenville, IL is a simple premise that accepts a few realities of our times. The economic situation isn’t great and a lot of people are worried about having cash on hand, and a lot of people are losing the previous generation and ending up with excess jewelry and no use for it. Holding on to jewelry you don’t have any use for instead of gaining money off of it is similar to putting all of your money in a bank account with a diminishing interest rate. Bankers have a term for this habit “dummy money”. If you live in Bensenville, IL remember you don’t have to go to New York City to find a cash for gold opportunity there will be local opportunities.