Selling Gold, Not Just for The Cash Strapped!

Who says you have to be in debt to cash in on your jewelry?

In this weaker economy with increased gold prices, we see many types of clients walk through our door. Many people come to us because they do have an immediate need to get some quick cash. However, there has been a large influx of individuals opportunistically converting their unused or outdated gold for cash. In other words, many people are just doing same basic “spring cleaning” of their jewelry boxes.

The regulars are clients who come in that NEED the cash fast and they aren’t bashful in telling us why. Often it’s for a medical bill, to make payroll, or even for paying the kids college tuition. Whatever the case may be, those who NEED the cash tell us what they’re looking to get and we try our best to have them leave with some money in exchange.

Interestingly, there has been a new breed of sellers walking through our doors. Perhaps they’ve seen all the Pawn Shows on TV or ads running around the country. Either way, these “newbies” are those who found that they are simply holding on to old memories, passed down trinkets or outdated styles of gold or jewelry.

These new clients are easy to distinguish because they are often looking to find out the values of the items, have no preconceived notion on the value and typically they walk away with newfound cash in their pocket. We’ve begun to ask the “newbies” how they came to selling their items and what they intend to use the money for.

Here are the Top 5 reasons for selling their goods:
    • Been seeing all these pawn and auction shows on TV, so wanted to see what I can get for my old jewelry.
    • Grandparents passed down some very old and outdated jewelry that just sits in my drawer.
    • Was in a relationship with someone and all these jewelry gifts make me think about them, so I decided to get rid of it.
    • Someone told me this is a highly valued collectible and would rather turn it into something I could use.
    • Figured I could use the items I don’t wear any longer and trade them in for something I would like.
Here are the Top 5 uses for the cash they get:
    • Wanted to take the family on trip and now have the means to do so.
    • Going to buy new jewelry with the money.
    • Wanted a new car but was missing the down payment.
    • Just going to put it in the bank for a rainy day.
    • Paying down some student loans.

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