Most people are at least somewhat familiar with the process of financial bankruptcy. Whether it involves an individual, a business or even a country, when debts rise above one’s capacity to pay those debts, financial insolvency ensues. When people and companies are involved in bankruptcy, lawyers file papers, wave a magic wand, and the debts are resolved while adverse effects take hold on said party’s credit rating. So what happens when a country goes bankrupt?
Gold is a precious metal and fairly rare element that has been used throughout history as a monetary system in the form of coinage, in jewelry and other forms of adornment, and in other arts as well. Although the world monetary gold standard was abandoned in favor of a fiat currency system in the 70s, the value of gold persists and actually continues to grow in spite of this.
Pawn shops can provide loans for your items, or purchase them outright. It all depends on whether you wish to retrieve your item at a later date, or just want to get rid of it altogether
One positive outcome of finishing your taxes early is receiving your tax refund as soon as possible. Instead of wasting this year's refund on just another gadget which you will forget about or break by next year’s tax day, why not prepare for your family’s future by investing in gold?
Starting the year out under $1100 per Troy ounce, gold has worked its way up to $1273.80 per ounce as of May 16, 2016. Used as a guideline of value for currencies around the world, the price of gold fluctuates due to a number of variables.
When purchasing gold coins, bullion or jewelry, pawn shops are an excellent option. If you go to a jewelry store, you are most certainly paying top dollar for whatever you buy there, even if it is advertised as “on sale”. Coin shops also tend to charge maximum prices for their goods, and understandably so – they are in it to make money, and their costs are likely higher than what pawn shops can acquire certain items for. Another factor to consider is that the variety of inventory at a pawn shop is usually more diverse. Retail stores often have a fairly set inventory – they carry certain products and then reorder them once they sell. A pawn shop may not have two of the same item, nor might an item that is there today be there tomorrow. Many customers will visit their favorite shop frequently as not to miss that ‘special’ item that might be gone before they know it.
January 2nd of the year 2000 would have been a great day to buy gold! At $288 per ounce, people that were watching the gold markets back in mid-1976, when one ounce of gold was selling for around $105, must have been kicking themselves for not having cashed in their savings account or college fund and bought gold coins or bullion. For those who did, August of 2011 was a happy month, as they turned their relatively meager investment into a $1917 per ounce cash portfolio!