Secret cash: Are you sitting on a gold mine? - WMC Action News 5 - Memphis, Tennessee

Secret cash: Are you sitting on a gold mine?

By Anna Marie Hartman - bio | email

MEMPHIS, TN (WMC-TV) - You might be sitting on a gold mine without knowing it, but where do you start looking to find cash in your home?

Research product recalls and class action lawsuits. Often, you hear about a company recalling a product and offering to fix to either fix the problem of pay you cash.

A simple search on the internet revealed a lawnmower that was part of a settlement from the manufacturer accused of mislabeling the horsepower. If the owner submits a claim, that could be $35 in the bank.

In the movie "The 40-Year-Old Virgin", the main character made $100,000 from selling his old toys. Rare toys can be another hidden find.

Nostalgia awaits amid thousands of new and vintage toys, where you would never think a piece of plastic could be worth so much.

"The most important thing is scarcity, regarding a toy's value," said Steve Presser, owner of Big Fun Toy Store. "The next important thing, and it's close to scarcity, is condition."

You could have something worth money on your desk just collecting dust.

Sports memorabilia is another hidden treasure. You never know what a baseball you caught 15 years ago might be worth. EBay, Craigslist or a professional appraiser can help you find its worth.

Shows like "Antiques Roadshow" gave many the fantasy of sudden riches hidden in the attic. At an antique story, your old items might be worth something.

"Before you get rid of something, why not bring it in?" said Christina Attenson with Attenson Antiques. "See if it's worth a few bucks, you might be surprised."

Copyright 2010 WMC-TV. All rights reserved.

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