With Gold Trading High Jeweler Sees More People Cashing In Collections

CHICAGO (CBS) -- With many out of work amid the COVID-19 pandemic, some people are looking at their unwanted gold jewelry as a way to make money.

Gold closed at $1,628 an ounce Friday.

"This is a golden opportunity," said Tobina Kahn, president of House of Kahn Estate Jewelers. "You know so many ... are at home, and they're looking at ways to cash in quickly. We will test, and we suggest our people to email us pictures. And look for special hallmarks, 14 karat, 18 karat, 22 karat, 24 karat. That would indicate the higher the gold karat weight, the higher the value is going to be."

Kahn said silver has also gone up in value.

She has been receiving a lot of emails with pictures for evaluation during the stay-at-home order. Many include silver tea sets and flatware people are no longer using.