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Home   About   Membership   Resources   Government Affairs   Meetings & Events Aug. 16, 2011

Floating on gold pawn
Boston Herald    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A gold rush has hit the hub as stock market uncertainty has driven the precious metal to record highs and local pawnshops are seeing steady traffic and paying out higher prices. "Our business is doing triple the volume on gold buying since prices started their dramatic rise," said Edward Bean, president of Suffolk Jewelers & Pawn Brokers in Boston and past president of the National Pawn Brokers Association. "We've raised our buying price for gold four times in the last month alone." More

Businesses and homeowners turn to pawnshops for loans
Dayton Daily News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Tight credit conditions and the struggling economy are driving more small businesses and homeowners to area pawnshops for loans to help make payroll or mortgage payments, local pawnbrokers said. "There are small business owners that do come in here to finance their business," said Harvey Lehrner, pawnshop owner. More

Dallas refinery melts family treasure into cold, hard cash
WFAA-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold is hot. Nowhere do they know this better than at Dillon Gage in Dallas, the largest gold refinery in North Texas. "The gold refining business has increased over 200 percent," said Terry Hanlon of Dillon Gage. "And the silver refining business has increased well over 300 percent." More


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Gold sales jump on eBay during week of stock market volatility
The Huffington Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
For gold sellers on eBay Inc., the recent stock market turmoil has been a boon for business. Gold and silver sales on eBay had already been rising steadily over the past several years — so much so that eBay created a special area to make it easier for buyers to find sellers. Now, activity on that part of the site, the Bullion Center, is intensifying as consumers unnerved by the economic uncertainty flock to gold in hopes it will be a stable investment. More

Dead 40 years ago, the gold standard is back
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In the aftermath of World War II, international finances were tied to the U.S. dollar, which was backed by gold. It was known as the Bretton Woods system and it helped stabilize the currencies of participating countries. All in all, it worked quite well as growth increased throughout the world. Yet with President Lyndon B. Johnson's Great Society programs and the Vietnam War, the system started to fall apart as the U.S. began to run deficits. There was a growing fear that foreign central banks would have a run on gold. Since there was only a finite supply of gold — unlike dollars which could be printed to manage fiscal policy — there was significant concern. More

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Small business owners turn to pawnshops via Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Small business owners that are struggling to make ends meet sometimes need business loans — or a pawnshop. Pawnshop loans are now something that some business owners are turning to as a result of the tight economy and lack of lending. Pawning is probably easier than getting a bank loan, though the interest rates may be significantly higher. More

In bad times, pawnshops busy
News & Record    Share    Share on FacebookTwitterShare on LinkedinE-mail article
They promise fast cash, easy terms and friendly service. More than banks and any other lender, they offer a lifeline to the average guy who overspent his paycheck, pension or unemployment and just needs a few bucks to get by. More

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'Mining' for gold at home lucrative today
The Register Mail    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A modern-day gold rush is under way as people search jewelry boxes, attics and anywhere else they may have stashed old jewelry containing gold. Owners and employees of Galesburg businesses that buy gold say there's been quite an influx of people hoping to turn forgotten rings and earrings into cash. More

Pawnshops — an economic indicator
WZZM-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
If you want to see how the economy is faring, head to the local pawnshop — you could call it an economic indicator. At E and J's Pawnshop in Grand Rapids, Mich., customer Michael Book is looking for some fast cash and it's not his first visit. Book says, "No it's actually probably my 100th time, I just pawned my computer because I just finished paying my bills and it's a little bit short." More

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