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WEDNESDAY, NOVEMBER 25, 2009
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Strapped? Sell Your Gold—at the Mall

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(Newser) – Up and down the East coast, cash-strapped shoppers are trading in gold and silver, not at pawn shops, but at the mall, the Boston Globe reports. Merchants at kiosks buy the precious metals for less than half of market value, but customers are still pouring in. “It's certainly something that was done in the days of the Depression,” said one expert on commodities investing.

The demand for gold is booming, and the seller’s motive is often simple: a present for a grandchild or a meal. Or melancholy: “It gets rid of the emotional baggage,” said one teen who sold a pendant meant for a girlfriend who dumped him. Still, one coin dealer suggests people would be better off skipping the kiosks and going elsewhere for a fairer price.

A store attendant in a shopping mall.
A store attendant in a shopping mall.   (AP Photo)
Gold coins.
Gold coins.   (AP Photo)
Gold chains.
Gold chains.   (AP Photo)
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2 comments
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preprower22
Dec 24, 08 1:56 PM CST
It's unfortunate that it has come to this. They're going to need all that gold when Bernanke's chickens come home to roost. *cough* Hyperinflation *cough* Reply
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dcox20
Jan 26, 09 7:43 PM CST
I think selling old gold for cash is a good thing. Especially at a kiosk in the mall because you can make the choice to sell or not based on their valuation. When i had gold to sell last week I checked with pawn shops, jewelry stores, and then the mall kiosk (www.goldbuyersatthemall.com) and the mall kiosk beat the other two by $18. The 'coin dealer' in the story is probably trying to discourage using a mall kiosk gold buyer because he doesn't operate a mall kiosk. Remember, everyone is out for them selves in this economy. Anyway that's my $0.02. Reply
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