MARIETTA, Ga. -- An all new high price for gold and continuing tough times have created long days at the Gold and Coin Exchange.
"We get about ten customers a day and sometimes more," said owner Robert Oberth.Business boomed a year ago when an ounce of gold was going for $750. People showed up in droves to trade in their outdated gold herringbone necklaces an chunky gold pinky rings. A year later, the price is hovering just below $1050, meaning any holdouts are really cashing in now.
Manager John Richards says, sadly, for many it's not a matter of creating a little extra spending money. It is cash that is desperately needed for essentials.
"You figure we've had tough times for about three years now. A lot of the people who are trading in their jewelry are trying to make mortgage payments or not fall behind in bills. Some of them are embarrassed when they come in, but I tell them they're not alone. You've got to do what you've got to do," said Richards.
