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Tuesday, October 14, 2008

Precious possessions sold for cash

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Active business at pawn shops, eBay

In these tough economic times, some are heading to their jewelry boxes and collectibles to make ends meet.

"I know it's one I made, so I can recognize it. Yeah, it's come and gone several times," says Jeff Boyd of Ace Pawn.

He says this ring he designed has once again made it back to his pawn shop. He's seen an increase in the number of people bringing in their gold jewelry. In fact, he says his shelves are full.

"We have so much inventory, that there's no need for me to make it. We have this much again that I don't have room to get out," says Boyd.

Boyd says lately gold has hovered just around $800 an ounce. He says though people are bringing it in, they aren't buying much jewelry right now.

"The value in the proof set is already at $1,275," says I SOLD It owner Kevin Bittner as he shows us what he has up for auction.

Bittner helps his customers sell their items on e-Bay. This gold coin collection is getting big bucks in bids.

"I expect it to close closer to $3,000 to $4,000 by the time it's done," Bittner says.

What is selling?

Check out a PDF with listings of items to sell here.

He says tough times have driven some to get rid of their precious collectibles and jewelry.

"There's a lot of folks that I can tell when they come in the front door, are struggling in this economy. And it's tough to leave items with us, but in the end, when they get that check, they realize that's more of what they need than the item sitting on a shelf gathering dust," says Bittner.

And Boyd says right now, gold minus the jewels is a safer bet.

"The stuff that's just pure gold, yeah we can scrap it at any time and have it refined. Gold's always worth it's weight in gold," says Boyd.

According to I SOLD IT, some of the things that don't bring a lot of money are beanie babies, wedding gowns and records.

Related story: Stretching the clothing dollar by buying second-hand

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