Thursday, November 5, 2009

More People in CNY Are Using Pawn Shops For Extra Cash

With the holiday season just around the corner, many Central New Yorkers are finding ways to make a little extra cash. One way some people are doing it is by pawning off their personal items.

At Big Mike’s Swap Shop in Mattydale, owner Mike Getek says it’s been a busy time for his store. Customers come in trying to sell everything from stereos to jewelry and everything in between. For a typical stereo, you can get between $20 to $30, but for jewelry you can make even more.

“Gold is up to its highest point right now,” said Getek. “It’s at $1,080 an ounce for gold. That’s for 24 karat.” All jewelry is measured by weight, whether gold, silver or diamonds.

So with all these items coming in, Getek’s store isn’t only busy with people wanting to sell. An equal number of people are also now using pawn shops as a way to find discounted gifts before the busy shopping season begins. Either way, pawn shops have become a new trend during the tough economy, and Getek expects to stay busy through Tax Day.

Find a pawn shop near you: http://www.pawnshoplistings.com/

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