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Les Gold on rare and valuable coins & paper money.

SheKnows.com: Currency Collecting

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[via SheKnows.com] The United States Department of the Treasury has recently announced that the $20, $10 and $5 bills will be getting makeovers to honor America’s history. The new designs will feature notable women, including Harriet Tubman on the face of the $20 bill, and will be revealed in 2020 to celebrate the bicentennial of women’s suffrage. This exciting overhaul to the design of American currency has left us with money on the mind!

As a pawnshop, we often deal in collectible currencies. American currency has a long history, beginning with the use of colonial notes in the 1690s. Many people collect old or rare banknotes and coins, and some of these currencies can be extremely valuable.

The worth of collectible currency depends on age — the older the better — and condition. Both coins and paper money are graded on a scale of 70 points, with a grade of 70 indicating the currency shows no evidence of handling at five times magnification.

Keeping age and condition in mind, check your piggy bank for the following collectible coins and paper bills.

Read the full article for a list of specific currency to be watch for and other tips and insights.

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SheKnows: How to shop for staple jewelry pieces for the woman you love — or for yourself

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As we’ve discussed in a previous SheKnows article, buyers should use caution when looking at a jewelry purchase as a financial investment. Still, jewelry is an essential part of any wardrobe and can become a critical piece of your signature style if you know what pieces will hold their style as well as their value.

When buying jewelry essentials, focus on simple styles that can blend with other items in your jewelry box and can accent any dress codes from classy and sophisticated to cocktail attire. People typically think of their wedding set and perhaps a luxury watch first, but after acquiring those items, consider these staple pieces [Read more at sheknows.com]

Seth Gold Tells All: Drop the Acid

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My family and I own a jewelry store in Detroit and run a ton of transactions. Many of our customers come in to pawn or sell us their old gold jewelry. Much of the jewelry is out of fashion or broken so there’s no resale value. We send this scrap jewelry to a refiner to be melted down. Prices are usually based on the weight of the gold content. Solid gold jewelry is 24 karats. Lesser jewelry has less gold content and usually contains other metals and hardening agents. The less gold content in a piece of jewelry, the less money it will be worth to anyone who intends to melt it down. So if I receive less money from the refiner, I will have to offer less money to the customer.

To stay in business, I need to make sure the cash offer is fair to both the customer and to me. Before I hand over money to the customer, I need to know exactly how much gold is in that scrap jewelry. If the customer is mistaken about the karat weight, or if karat marks are wrong and I don’t know the exact content, I could be burned.

Read the full blog post at the Analyzing Metals Blog.

Touchvision: 60 Seconds with Les Gold

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60 SECONDS WITH HARDCORE PAWN – 60 SECONDS WITH:  Les Gold is the patriarch of American Jewelry and Loan, the pawn shop made famous on truTV’s ‘Hardcore Pawn’ and tells all about owning the largest pawn shop in Detroit.  Gold is also the author of For What It’s Worth: Business Wisdom from a Pawnbroker.

Check it out: http://touchvision.com/video/73272/60%20SECONDS%20WITH%20HARDCORE%20PAWN

Car and Driver Magazine: All That Glitters is Les Gold

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by John Phillips:  As I shuffle into a sunset that promises daily crashes on my Hoveround while wearing orthopedic socks—all the while shedding body parts like a Lotus Europa—I’m at least watching less TV. These days, it’s either car racing or Anthony Bourdain. But two years ago, my wife and I were drawn into the truTV reality show Hardcore Pawn starring Les Gold—a sinewy string bean of a man, shirt open to reveal prodigious chest hair as well as a gold hand grenade of a jeweler’s loupe. At Sam’s Loan in Detroit, Gold made his first sale—when he was seven. Today he operates American Jewelry and Loan in a 50,000-square-foot store that used to be a bowling alley. He’s an over-revving slot machine of a salesman, alternately compassionate, profane, hysterical, generous, stingy, insightful, but always relentless about pawning, loaning, and redeeming.

During one episode, a customer tried to sell his Shelby GT500KR, demanding fairly strong money. “That’s not a real Shelby!” I shouted from my La-Z-Boy, regaining composure at the same moment Gold said, “That’s not a real Shelby.” Gold offered $20,000, which irked the seller, although it was exactly what I’d have offered, too. “I think Les is a car guy,” I told my wife.

“So, give him a call,” she said.

Read the full article at Car and Driver Magazine