Last week, the U.S. Mint released updated sales data revealing that said it sold more than 1.25 million ounces of gold in 2021 in various denominations of its American Eagle gold coins. Up more than 48% from last year, demand for physical gold has hit its highest level since 2009.
A recent Forbes article names gold as the go-to choice of many investors coping with market volatility. “Gold’s value typically increases when the overall market struggles. Between 2008 and 2011, for example, gold’s price rose more than 100% as the economy struggled through the Great Recession and moved into recovery.”
Analysts have noted that physical demand for gold has been strong as investors build strategic positions in their portfolios. Many analysts have said that the precious metal remains an attractive hedge against inflation.
Gold and silver coins and 5g bars have been of particular interest to customers who are looking to pawnshops for physical gold and other precious metals. Some consumers are interested in passing down money to their kids or grandkids in a way that does not lose value over time or teaches them the value of investment.
Whatever the reason behind the boom, there’s no question that pawnshop customers are looking to buy gold and other precious metals right now. Mid-States Recycling, which has been specializing in Gold, Silver, and Platinum Refining for 40 Years, works with pawnbrokers, jewelers, and other businesses from all over the county to supply them with bullion inventory that they need to meet customer demand, often in exchange for their scrap gold. More information is available at www.midstatesrecycling.com.
About Mid-States Recycling: Mid-States Recycling has been a trusted precious metal refiner for forty years. They’re known for an open-door policy for customers to observe the process from weigh-in, documentation, melting, and testing to the final outcomes which offers and unparalleled transparency and peace of mind. Tools like their proprietary Karat Calculator and Online Packaging List make shipping simple. More information is available at their website www.midstatesrecycling.com or by calling (847) 298-0010.
Mid-States is an advertising partner of The Pawnbroker Network.
