Pawn Shops Around the World are Thriving

For some reason I never think thought that there are as many pawn shops in the US as there are elsewhere around the world. Well, apparently I’m wrong because today there was a good article published in the USA Today quoting pawn shop owners from Mexico, China, Austrialia and South Korea.
They’re all saying the same thing! Which is basically that business is booming and people are hurting. Its a global economic downturn.

When to get rid of your scrap gold?

Most of us have some old jewelry or scrap gold laying around in our jewelry boxes or drawers. Tangled necklaces or bracelets that were purchased years ago that you no longer wear are prime targets to get rid of. With gold prices soaring this year and the average consumer needing cash, people are turning to online pawn shops to sell their gold and jewelry without the hassle of heading down to a traditional brick and mortar pawn shop. Now is the perfect time to sell scrap gold and get cash!

Post Office in India to Sell Gold Coins

India Post, country’s postal services will now start selling 24-carat gold coins across 100 post offices in four states – Delhi, Maharashtra, Tamil Nadu and Gujarat. The sale will be further carried to 155,000 post offices across the country, depending on the response of consumers.

Today gold has emerged as a preferred asset over other asset classes that are witnessing value erosion.

Here in the US, if post offices started selling gold coins, I would take them right to an online pawn shop and get cash.

Is Selling Jewelry to a Pawn Shop Safe?

Many people are rummaging through their closets and finding old jewelry  they haven’t worn and running to the pawn shop. But is it safe? Generally speaking, pawn shops are not always in the best part of town, depending on where you live. Rather than risking your life (potentially) you might want to try an online pawn shop. Online pawn shops have a simple process:

1) You fill out a form
2) They mail you a “kit” which is basically just a prepaid envelope (be sure to ask what the insurance is)
3) You mail your jewelry to said pawn shop
4) They mail you a check

Remember, when selling jewelry to a pawn shop don’t expect to get the market gold value, which fluxuates daily.