Many of us are struggling in this economy, or if not struggling, living paycheck to paycheck. While it is suggested that Americans have enough emergency savings to cover 6 months expenses only 24% of the country actually reports having that. Less than half report having 3 months of savings and a quarter of Americans have no savings at all. Pawn shops are thriving in this economy, and there is a good reason for it. While banks in these difficult times have tightened their requirements for lending, pawnshops require only what they have always required –collateral. This means, that if you, like many Americans, find yourself in need of extra emergency cash and you have something of value to be used as collateral you can get the cash you need through a pawn loan.

Gold and other fine jewelry are one of the best sources of collateral. Now is a better time than ever to get loans on gold. In a down economy the gold price tends to rise, as investors see it as a safety net. If you’re experiencing an emergency –your car broke down, your roof is leaking, your bills are unpaid –and you have gold jewelry then you can easily get a collateral loan from a pawn shop. Gold is always in demand, but right now the price is higher than ever.

Whether you want a pawn loan for a beautiful piece you want to get back, or you just want to sell gold you should be able to get top dollar. A gold buyer isn’t just looking for fine jewelry she can resell. Pawnbrokers will buy gold jewelry that is mismatched or broken to be sold as scrap and melted down to make new jewelry. If you are among the many Americans with no emergency funds, but you have assets, a pawn shop can get you the cash you need.