With fears of a failing economy and with higher gas and food prices, many Americans are wondering where to get some extra cash. It might be worth it to check the old jewelry box.

The stuff you don't wear anymore, like earrings and a tangled old necklace, could be worth some cash with the high price of gold right now.

Tom Hallenbeck, owner of Hallenbeck Coin Gallery on North Nevada Avenue said people sell him just about anything made of gold. He has a ring from a customer with the number “300” on it. It looks like it came from a bowler who rolled a perfect score. "It’s about $100 worth of gold," Hallenbeck said about the ring.

Since he'll buy almost anything made of gold, why not a gold crown, right out of a tooth? "That would be worth $50 worth of gold," said Hallenbeck.

The coin gallery also sells the precious metal. “This is an 11 ounce gold bar worth $10,000.”

Hallenbeck said business has skyrocketed as soon as talks of a bailout plan started. “People are buying because they’re nervous. They don't know where to put their money."

So where does gold go after Hallenbeck buys it? He sells it to a refiner, who melts it down, makes it into bars and it’s often sold to investors.

Right now, pure gold is going for about $870/ounce. But, remember, your old jewelry may not be 24 carat.