At a house party in Grosse Pointe Park, Michigan, guests come bearing gold... and walk away with a check. It's called a Gold Party, where unwanted jewelry, broken chains and a lone earring are still worth their weight. Jewelry Expert January Thomas started My Gold Party after finding out she could make more money scrapping her gold watch than selling it on eBay®.

Oil tops a record $120 a barrel? Bad news. Gold reaches a stunning $1,000 an ounce? Potentially very good news indeed. Think Tupperware® parties, but instead of buying plastic, guests bring gold (coins, watches, necklaces, teeth) to be assayed (tested) for carat content and weighed. Guests can walk away with hundreds or even thousands of dollars.

Gold is one bright spot in an otherwise bleak economy - today it's priced at more than $850 an ounce. More people are taking advantage of the high price by looking no further than their dresser drawers. January Thomas came up with the idea of gold parties after getting some much-needed cash for her gold at a relative's jewelry shop.