Los Angeles Gold
There is a new gold rush. People are turning in their rings, necklaces and bracelets in exchange for loans and checks.
In the suburbs of Los Angeles, people are looking to turn one commodity into another.
"I came to turn in my gold into groceries," says a client. "I'm a gardener in LA County. Things have been really slow lately and my wife and I don’t wear this any more so and I need to trade the stuff in this bag for extra cash."
Information regarding the gold values have spread throughout the Southland. So, people are going to Pawn Shops and trading in their gold so they can take care of car loans and put bread on the table. With the price of gold skyrocketing and the economic conditions falling, digging these precious metals out of dressers and jewelry cabinets have become commonplace lately.
“There is definitely value out there,” says the manager of Valencia Loan Company, an organization that acquires and loans on precious metals, jewelry, watches and coins. “It’s just a matter of people digging in closets and nightstands. This is the modern-day prospector”
And for those out there willing to rummage through their bedrooms, there can be a good payoff.
"Things are pretty expensive so I just went on a California gold rush in my chest of drawers,” said another client, who was a developer before the economic bottom hit. "And I found some items that I had had for years. “I brought in the gold to the Beverly Hills office and got a nice check.”
Prospecting in the bedroom is a lot easier than digging it out of the ground but using a shovel may have its payouts. One gentleman came to California from the Northeast. He was able to find nearly forty thousand dollars worth of gold in just a few months by digging. VLC will acquire gold nuggets from the public as well as gold that has been shaped into jewelry.
This activity is reminiscent of the old days when people came in droves California to seek their gold fortunes. So, may out of work fortune seekers and weekend warriors are going down to the river with their pans. The gold is just sitting out there, they report. And the prospectors are willing to give free advice to each other.
With the economic times, the modern California gold rush is resistant to recessions. Even the manufacturers of the equipment used to find the gold are selling more than they ever remember. They are coming in droves to buy gold pans, sluice boxes and devises used to find gold in hills and rivers.
Gold is also commonly located in California rivers. The water rushes by and washes away the lighter material and the precious metal is often left behind.
Where are the best places to find it? One place is the Mother Lode region which is east of Modesto. The other is the rivers in and near the San Gabriel Mountains. Another is a canyon region above Azusa.
One of the employees says, “I use to go gold panning with my uncle. It wasn’t as valuable back then as it is today. If he were still around I ‘m sure he’d be out there panning gold to this day. I hear the good spots are really crowded with prospectors these days. So, remember, whether you find the gold in your closet or in the ground, give us a call and we can help give you advice and then help you turn it into something you can spend at the grocery store."
