DETROIT (WWJ) – The price of gold is jumping to record levels, so WWJ’s Kathryn Larson went American Jewelry and Loan on 8 Mile in Detroit to talk with the man with the Midas Touch.
Les Gold, the star of Tru TV’s hit show “Hardcore Pawn,” knows a thing or two about the rising price of gold. “Every day lately, gold is reaching new heights. You know, with the world economy the way it is, people are looking for a safe haven and gold’s the way to go.”
Gold said with today’s prices, you can definitely get a good deal.
“Because the price is so high, where last year you were probably receiving in loan $100 on an item, this year receiving $150.”
Even though Gold sees a variety of items come into his shop (an elephant skull, baby alligator, horse, forklift), glitzy gold jewelry is what he sees most.
“People normally take off their necklace, they normally take off their earrings, people take off their wedding bands.”
And when you want to know what it’s worth, you talk to this man… Mr. Gold.
“I was born Les Gold, I will die Les Gold. My children have the same last name. We didn’t change it because we are in the pawn business, that is actually my real name.”
So, what’s his advice for those contemplating whether or not to sell their gold?
“My best advice for selling gold right now is if you’re going to sell it, sell it. There’s no promise that tomorrow is going to be better than today. If I were a betting man I would bet sell your gold now while it’s over $1,600 an ounce.”
Catch Kathryn’s full story and find out how Gold stops con-artists from selling fake gold bars during Friday’s First Forecast Mornings on WWJ-TV.
American Jewelry And Loan is featured in our Best Pawn Shops In Detroit list.