At Pawn Shops, The Cash-Strapped Trade In Memories
Save Email Print
Bookmark and Share
Posted: 8:43 PM Oct 21, 2008
At Pawn Shops, The Cash-Strapped Trade In Memories
Amid the economic downturn, there's one resource that more and more people are turning to: pawnshops.
width:200 and height: 150 and picwidth: 200 and pciheight: 150
Font Size:

UNDATED (AP) -- Amid the economic downturn, there's one resource that more and more people are turning to: pawnshops.

That's where cash-strapped Americans are going to trade their mementoes for cash.

In recent weeks, jewelry buyers and gold brokers across the nation have seen a sharp increase in customers -- of all economic backgrounds -- pawning their possessions for money.

Cash for Gold USA, an Internet site that offers customers a chance to mail in pieces of gold, says it's business had quadrupled in recent months thanks to high gold prices. Business spiked even more with the financial meltdown.

Often, the pawned goods come with a story. One woman in Portland, Oregon, pawned three rings, including her wedding ring. Sheli Johnson said the cash would help make ends meet until her husband's next paycheck. She hopes to get the rings back someday.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

KKTV.com Features

KKTV and our Partners are proud to make Moms life easier…click here for more information

Click here for more information from our local health care specialists.

Do you have a story idea? Want to report breaking news? Call our newsroom at (719) 578-0000 or e-mail News@kktv.com.

Click Here to have KKTV come to your school!

Watch full episodes of your favorite CBS shows right here on KKTV.com.
Latest Blogs
  • EAT IT: Almonds - (Stacia Naquin)
    Keep your energy up when things get crazy. All you have to do is keep this super food handy at your desk.
  • Beware of Crooks Using Best Buy's Name (Betty Sexton)
    Crooks just sent a message to an 11News smartphone. It claims we've been selected for a $1,000 shopping spree. It's all a bunch of baloney!
  • Make a quick $250, hardly! (Betty Sexton)
    Thanks to Christine for telling me about this scam. She received a check in the mail from a group using the name American Consumer Opinion. It wasn't the legitimate Texas research company... just a crook looking to rip her off!
  • Treat It Like Thanksgiving - (Stacia Naquin)
    You don't have to sit on the sidelines at that Super Bowl party just because you vowed to make 2012 a healthier year. Here's some advice to keep yourself on track, after indulging during the season's biggest game!
  • "Be Prepared" is Good Motto for Storm Coverage
    Over in the KKTV 11 Weather Center, the radar's showing the snow moving in. Chief Meteorologist Brian Bledsoe says this storm has the potential to bring the most snow we've seen in 5 and 1/2 years, so it is "all hands on deck" and "batten down the hatches", as the newsroom makes its own preparations for this Groundhog Day Storm.