More people selling gold for cash - WAOW - Newsline 9, Wausau News, Weather, Sports

More people selling gold for cash


WAUSAU (WAOW) -- With the price of gold near an all time high, local pawnshops say more people are cashing in.

"Now is the time to be selling because the price is really high right now," said Dustin Robare with Downtown Pawn in Wausau.

He says Downtown Pawn has had a recent spike in business because of it.

"One day we can get like one or two people and the next we can get like 10-15 people," said Robare.

Experts say it is typical for the price of gold to go up when the stock market is down. Local jewelers told Newsline 9 that's helping boost their business, too.

            "Business is up, it brings in more people and brings more people into the store," said April Grinwald with Jim Kryshak Jewelers.

Grinwald says she has been in the jewelry business for eight years and hasn't seen anything like it.

 "I believe when I started here gold was around 300 dollars an ounce," said Grinwald, "… now it's 1750," she said.

She says people are bringing in everything from old class rings to jewelry that is no longer in style.

"It's things that people want to get rid of. Sometimes when they're struggling too, and they need the cash, that's when they'll bring it in," said Grinwald.

And some customers agree.

"It doesn't pay to have it sitting in your jewelry box just taking up space," said Carissa Rau of Medford.

According to, the price of gold has jumped from 270 dollars per ounce back in 2001 to 17-hundred dollars per ounce this week, which is about a 600 percent increase.

That's a trend jewelry experts say is worth taking advantage of.

Area economists say whether the value of gold will stay up is uncertain.

They say commodities, like gold, have been known to go up when the market is down, and drop once the market picks back up.

Online Reporter: Courtney Fasano

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