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Business

Tax Returns? Think About Buying Gold

By | Business

We get questions every tax season about this.  Your tax returns are in, but you’re unsure what to do with that money.  Do you spend it or stick it in a coffee can for a rainy day?  Our advice has always been to invest in or purchase physical gold.

There are a number of reasons that gold is a great investment:

  • The price of gold is up more than 300% over the last 15 years.
  • Gold is a great hedge against inflation.
  • Physical gold is easy to buy and simple to sell.
  • Though gold as jewelry has always been fashionable, the trend has been spiking for a number of years.

We’re happy to help educate all customers on the benefits of owning gold and how it can be part of their overall financial health.

Stop in a find out for yourself why American Jewelry & Loan is Detroit’s most trusted shop for gold.

The Golds Visit UT Family Business Center

By | Business, Community Engagement

Recently, Les and Seth were invited to be the keynote speakers at the University of Toledo’s Family Business Center’s Annual Recognition Event.  This non-profit organization has a tremendous mission: to provide support specifically designed for family businesses.

Les and Seth would like to thank the University of Toledo’s Family Business Center for inviting us to their facility to speak, meet and interact with their members.  Though they always love sharing their experiences, they REALLY loved learning about your organization and meeting many of the great people that make it successful.  

Learn more about the UT Family Business Center here: https://www.utoledo.edu/centers/cfb/

If you’d like to have the Golds speak at YOUR function, contact us through our website at https://pawndetroit.com/booking-inquiries/

 

Seth Gold of American Jewelry and Loan will speak at Pawn Expo 2019.

Seth Gold to Speak as Panelist on “Building Your Digital Community” at Pawn Expo 2019

By | Business, from Seth Gold, Tech

Pawn Expo is the only national convention and trade show for the pawn industry, hosted annually by the National Pawnbroker’s Association in Las Vegas, Nevada.

This year, Seth Gold is proud to have accepted an invitation to serve as a panelist in an educational session titled “Building Your Digital Community“.

The panel, which includes Seth as well as another pawnbroker and a social media expert, will discuss how to move beyond basic social media and build a true presence online.

Seth Gold will speak as a panelist at the "Building Your Digital Community" panel at Pawn Expo 2019.

Pawn Expo, held July 9-11, offers pawnbrokers from across the nation the opportunity to network and learn from one another.

This year, Pawn Expo will host 16 educational sessions, as well as over 100 vendors at a trade show and social events for pawnbrokers to connect with one another.

Learn more about Pawn Expo here.

Dixie Educational Conference 2019

Dixie Educational Conference & Trade Show 2019

By | Business, from Seth Gold

On March 22, pawnbrokers from across the nation gathered in Orange Beach, Alabama, to enjoy a weekend of learning and networking. Les Gold and Seth Gold were honored to give the keynote speech, “Telling The Story of Your Pawn Shop,” at the event.

LEs & Seth Gold attended the Dixie Pawn Educational Conference in Orange Beach, AL

They enjoyed an animated audience who asked great questions after their speech. Most of all, they enjoyed networking with and learning from other members of the pawnbroking industry.

Seth Gold gave the keynote speech at Dixie 2019 with his father, Les Gold.

They look forward to another weekend of learning from their fellow pawnbrokers at the Dixie Conference 2020!

Looking forward to the 2020 Dixie Convention!

 

We'll beat any online diamond retailer's price!

Shopping Online for a Diamond? We’ll Beat Their Price!

By | Business, Uncategorized

Purchasing a diamond is a big decision — by limiting your shopping experience to the internet, there is no chance to “try before you buy”. In order to see that diamond you purchase online, you have to buy it…which increases the risk of fraud or ending up with an expensive item that you are unhappy with.

Find a stone that you want to buy online?

American Jewelry and Loan will set an appointment for one of our GIA Certified gemologists to show you comparable diamonds and/or jewelry pieces that are similar to what you find at online retailers. We will match the published price on a like-for-like stone. In the rare circumstance that we are unable to find exactly what you’re looking for and you end up purchasing the stone online after a consultation with one of our jewelers, we will pay you $100 (just show us the proof of purchase of that original online stone with specifications including cut and clarity).

Les and Seth Gold to Attend Oklahoma Pawnbrokers Association Annual Convention

By | Business

Dear Fellow Pawnbrokers–

 
Thank you for inviting us to join you at your annual convention in Tulsa! This will be the first visit to Oklahoma for each of us and we can’t wait to spend time with each one of you. We are looking forward to sharing the story of our 40 years of business, lessons learned, and our vision for the future. We are also excited to hear about YOUR experiences and insights into the industry! 
 
This unique opportunity for networking, education, and vendor exhibits all take place at the beautiful Hard Rock Hotel and Casino. We believe that events like this are invaluable for staying at the top of your game. The weekend kicks off with a golf tournament on Saturday, August 25th followed by a meet-and-greet and roundtable conversation from 4-8 pm. Then, we’ll be speaking on Sunday morning at 9am. We certainly hope you’ll join us and are honored by the invitation to join you. 
 
Thanks again–we’ll see you in Tulsa! 
 
Les and Seth Gold

 

 

Les & Seth Gold are proud to accept NPA's Outstanding Community Relations Award.

Les and Seth Gold Receive NPA Award for Outstanding Community Relations

By | Business


The National Pawnbrokers Association (NPA) is pleased to name American Jewelry and Loan as the 2018 recipient of the NPA Outstanding Community Relations Award. Seth and Les Gold, of TruTV’s Hardcore Pawn, accepted the award at the Annual Awards Luncheon on July 10, 2018. The event was held at The Mirage in Las Vegas during Pawn Expo 2018, the only national convention and trade show for the pawn industry.

Celebrating 40 years of business in metro Detroit, American Jewelry and Loan has a long history of community involvement, which employs a three-tier strategy of business leadership, financial literacy, and charitable giving. Their Entrepreneurship Master Class provides low-cost training and mentoring to approximately 50 aspiring entrepreneurs. As volunteer mentors for Junior Achievement, the Golds give freely of their time to attend high school “Shark-Tank Style” pitches, offering business wisdom and insights as well as seed funds from “The Gold Bank.” As part of their commitment to workforce diversity, American Jewelry and Loan provides meaningful employment to adults on the autism spectrum.

The Golds recognize that financial literacy is an important priority for the Detroit region and have worked to help educate their customers and others about pawnbroking. Their “Financial Literacy for Alternative Lending Customers” course, now in its second year, represents a partnership with three national non-profit organizations and is the only one of its kind.

The Gold family is committed to supporting their community. Les frequently serves as a celebrity auctioneer and has raised $125,000 for Big Brothers Big Sisters and almost $300,000 for Winning Futures, a youth mentoring program. Seth served as Honorary Chair of the Wigs 4 Kids Gala. In addition to welcoming summer interns from The Jalen Rose Academy, American Jewelry and Loan contributed $10,000 towards the scholarship fund of this charter high school, which serves the children who live in the same neighborhood as their Detroit store. To celebrate the company’s 40th anniversary, they gave a $10,000 gift to Junior Achievement of Southeastern to establish ‘The Gold Bank’ which will fund the entrepreneurial endeavors of Detroit’s youth for generations to come.

 

 

Seth Gold discusses busy season at Detroit pawn shop, American Jewelry & Loan

Tax Day Highlights Ways Pawnshops Help Consumers

By | Business

Our local Fox affiliate stopped by the store on Tuesday, April 17th to talk with Seth Gold as well as some of our customers about how they were approaching this year’s tax deadline.

Their story points out two of the ways that American Jewelry and Loan, like any pawnshop, helps the customers that they serve.

First, pawnshops offer short-term loans using a customer’s valuables (like jewelry or a guitar) as collateral. In return, pawnbrokers lend them money. When customers pay back the loan, their merchandise is returned to them. If the customer elects not to redeem his or her collateral, there is no credit consequence to the borrower and the items are sold at a value price to retail consumers.

Pawnbrokers are governed by all of the major federal laws that apply to other entities designated as financial institutions. We offer the consumer a quick, convenient and confidential way to borrow money. A short-term cash need can be met with no credit check or legal consequences if the loan is not repaid. Pawnbroking imposes a discipline on the borrower that other lenders do not. Pawn loans are a non-recourse option and do not cause people to overextend credit or go into bankruptcy.

Secondly, the news story spoke with customers who were shopping in our showroom. As these customers shared, pawnshops are a great source for buying a wide variety of merchandise at deep discounts. Our customers know to rely on us for so many things on their shopping list — from the tools they need for DIY projects to the fine jewelry that marks their milestones. American Jewelry and Loan was even named the Best Place to buy Electronics by HOUR Detroit Magazine — we have a huge selection of laptops, tablets, game systems, televisions, and stereo equipment at prices that are a fraction of what you’d expect to pay at a big box retailer.

 

 

American Jewelry and Loan Celebrates 40th Anniversary By Supporting Junior Achievement’s Young Entrepreneurs

By | Business, Detroit Love, In the News

In 1978, American Jewelry and Loan opened as Metro Detroit’s first suburban pawnshop. The 1,500 square foot location in Oak Park, Michigan was an offshoot of Sam’s Loan, a pawnshop at the corner of Wabash and Michigan Avenue where Les Gold grew up working for his grandfather. The move would change the trajectory of his life in ways he couldn’t have imagined while working alongside his “Popsie” as a youngster.

To celebrate its 40th anniversary, American Jewelry and Loan, now with three stores including its iconic 50,000 sq.ft. Detroit location, Gold is partnering with Junior Achievement of Southeastern Michigan (JA), and its JA Company program to ensure young entrepreneurs in Southeastern Michigan are able to fund their own dream businesses.

The Gold Bank, gifted by American Jewelry and Loan, but controlled and administered by JA, will be the source for low-interest small business loans for students involved in the JA Company program, which teaches entrepreneurship to high school students.

“The hardest part of getting a business off the ground is finding start-up capital,” said Les Gold, Owner, American Jewelry and Loan. “With the Gold Bank, I am pleased that these young entrepreneurs will have one more option to find resources to build their companies and their futures,” Gold added.

Junior Achievement of Southeastern Michigan is the youth arm of economic development in the region.  The volunteer-driven non-profit, founded in Detroit in 1949, will teach 60,000 students in 10 counties the “business of life”—financial literacy, entrepreneurship, and work-readiness including career exposure and soft skills.

High school students involved in the JA Company program throughout Southeastern Michigan will be eligible for a loan from the Gold Bank.  They must demonstrate the value and viability of their start-up during a “Shark Tank” style presentation to a panel of business leaders, including Les and his son Seth Gold. Students will be responsible for paying back the loans they obtain from the Gold Bank, with low interest, in the same semester in which they borrow it, thus ensuring the success of the program for years to come.

“The Gold Bank solves the problem every start-up business has—where to get money to launch a business,” said Margaret Trimer-Hartley, President of JA of Southeastern Michigan.  “Our JA Company students will learn just how small business loans work in the real world,” added Trimer-Hartley.