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The Pawn Process

“Pawning” is a process in which you bring an item into the pawn shop in exchange for a cash loan. For example, you might pawn a gold wedding ring as collateral for a $250 loan.  If you repay the loan by a predetermined date, you can retrieve your gold ring. The loan repayment amount will include interest and fees that are typically regulated by the state. You also have the option to extend the repayment time frame, although this will incur continuing interest. If you fail to repay the money on time, the pawn shop takes ownership of the ring and can offer it for resale.

Investing in Silver

For many centuries, silver has been regarded and valued as a precious metal. More abundant than gold and therefore not as costly, silver metal has often functioned as a coinable monetary system.  Beyond currency, silver has numerous applications such as jewelry, ornamentation, tableware, water filtration and as an investment in the form of bullion, to name a few. Silver is used industrially in electrical contacts and semi-conductors as it possesses the highest electrical and thermal conductivity of any metal.  Other applications include mirrors and window coatings, as well as in photographic film and X-rays. Dilute silver nitrate solutions and other silver compounds are used as disinfectants, added to bandages and wound-dressings, and incorporated into various medical instruments.

A Good Time for Precious Metal Investment

It appears as though our hopes of arriving at a time we could refer to as “post-pandemic” were an illusion. Optimism that this potential period would resemble the pre-pandemic world in some capacity now seems rather unlikely. New ‘variants’ seem to be popping up with nearly predictable regularity, vaccination controversy has exploded onto the scene, and compliance with heretofore personal choices is quickly becoming decreed without regard for consent. Commodity shortages, increasing fuel prices, border chaos, economic instability, international crisis, and escalating social discontent are creating a volatile cocktail.

Stocks vs Precious Metals

The stock market – it makes people millionaires or homeless and everything in between. We’ve all heard the “high risk, high reward” phrase. Conversely, there is also the “low risk, low reward” school of thought. Some people know how to play the investment game very well, while others just spin the wheel and hope for the best. Wherever one may be on this sliding scale, the odds of success or failure are tied to countless variables, many of which exist outside the control of the individuals playing the game.

Gold prices on the way up – again

The pattern is quite predictable. Uncertainty and instability, whether economic, social or political, drive up the price of precious metals. This is a historic fact. Much like an archeologist can look at ancient sedimentary strata and infer that certain things happened relative to the composition of these layers; we can look at a precious metal chart alone and verify that peaks in the graph indeed correspond to various geopolitical commotions that occurred at those points in time.

Supporting Local Business

The negative economic impact resulting from events that have transpired within the last six months has been tremendous. An unprecedented closure of the economy has caused irreparable harm to small businesses across the country, forcing many to shutter their doors for good. Unemployment rose higher in three months of COVID-19 than it did in two years of the Great Recession. Yet despite the pandemic, Amazon doubled its net profit year over year to $5.2 billion, compared to $2.6 billion at this time in 2019. So what’s wrong with this picture?

Crisis & Precious Metals

The COVID crisis we are experiencing is unprecedented in modern times. Aside from the human toll in fatalities, it has affected nearly every aspect of life as we know it. From government mandated lock-downs to economic disruption on a global scale, it has exposed the true frailty of the engines that power our world. The prosperity of a functioning society is not simply defined by a monetary equation. Fluctuations and elasticity are an inherent part of such a system and typically weathered in stride. But when the life fabric of life is stretched beyond the breaking point, it’s wise to prepare for a potentially unfavorable outcome.

Precious Metals in 2020

Looking at the past year, we continue to see appreciation of precious metals across the board. Within the past 12 months, gold went from a low of $1270 per ounce to $1574 per ounce currently. Silver experienced its lowest price of the past year at $14.34 per ounce to its highest of $19.57 per ounce. Platinum soared from around $785 per ounce in January of 2019 to around $1015 per ounce in January of 2020.

Precious Metals and World Crisis

The world is far from a peaceful, stable place. Geopolitical tensions seem to increase, and then subside, but most every storm has been weathered to some extent or another. Those that believe this to be as cyclical as the weather will allude to the fact that every generation has faced its own set of crises, many of which may have been worse than current events, only to have prevailed and come out stronger as a result. And although this is true, if one examines the broader story arc of where things are going, the big picture does raise some concern.

What Makes our Pawn Shop so Interesting?

We all know that pawn shops, ours included, deal in many common commodities. There are firearms, coins, jewelry, tools, home electronics, car audio and many other products you would expect to find at a pawn shop. But one of the most interesting things is that our inventory is always in motion, and by the very nature of a business like this, we sometimes come across unique items that do not fit into our general product categorization.

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