Cash for gold stores struggle after price drop

The Seattle Times profiled some of the cash for gold shops that sprung up over the past few years. Unlike businesses that are selling gold and silver coins, these businesses are struggling:

Amber Roberts manages a cash-for-gold store in San Jose — one of 13 in the San Francisco Bay Area operated by West Coast Gold Buyers.

The sign outside says, simply, “We Buy Gold,” and Roberts insisted the drop in prices has done nothing to deter people from trading in their gold jewelry for money, even though her store was empty on a recent visit.

Customers looking to sell their gold often ask Roberts whether prices will go back up or fall even further, but her answer is consistent:

"It's a crapshoot," she said. "You never know."

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Image by Sh4rp_i