Bad economic times, good gold prices turn pawns into kings
By Amy F. Reiter
Monday January 5, 2009
Rick Danzl
Kent Dukes, owner of Downtown Diamond and Pawn Inc., 47 N. Vermilion St., Danville, said the shop has seen sales of jewelry increase partly because of the closure of other retail outlets and partly because of prices that are as much as half off.
At Gold Rush II in Champaign, the store's name has been prescient. With gold prices on a relative upswing – listed at $877 an ounce midday Friday, according to the New York Mercantile Exchange – people have been selling or getting loans on gold.
For co-owner Don Crowder, that's been true at the shop at 41 E. Main St. He's found more people are trading in their gold – often in the form of necklaces and rings – for cash.
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