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cash 4 gold

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jerryphilbob
(@jerryphilbob)
Posts: 277
Reputable Member
Topic starter
 

I find it interesting that with gold falling in price for quite some time, how do these stores stay in business? I know, they buy under spot and sell at spot, but is that enough to actually run a store front business? I went into one of these stores and they didn't even have any gold or silver for sale, they were strictly buying.

I guess they don't mind trading paper for gold and silver?


 
Posted : January 8, 2015 6:02 am
OriginalGoober
(@originalgoober)
Posts: 1861
Noble Member
 

most pawn jewlery not bullion . jewelery is marked up wayyyyy more than spot prices. the down on his luck pawner is lucky to score 30% of spot price on their trade for paper. good jewelery gets resold for much more, trash gets melted down. that is how they stay in buisness.


 
Posted : January 8, 2015 12:18 pm
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