Seth Chandler runs Witttier Coin - a precious metal trade business from 2016, where people recently flock to sell gold and silver. "I've never seen anything like this. It creates a real fever. We're buying in and selling out a lot," Chandler said.
Last week, gold and silver set a new record. Gold up close to $5,600 a ounce, and silver on $120. At present, the price of hypothermia, partly due to the sale of investors' lyrics. Even so, in the last year, gold has increased by over 70%, and silver has nearly tripled.
In the context of living costs still at high levels, many Americans are trying to make more money. On CN, pawnbrokers and coin stores across the United States say that more people have recently come to sell gold and silver bars, mass silver, household silver, or jewelry that fail more than ever before.
"Our store's people are four to four times as many as they were two years ago. For the past six months alone, the number of guests has probably doubled as the price of precious metal skyrocketed", Chandler said. He had to double the staff to meet the customers' needs.
Get out! [The pieces, gold coins and gold block at Witter Coins (San Francisco, USA). Image: AFP](httttts
- The pieces, the coins and the gold blocks at Witttier Coins (San Francisco, USA). Image: AFP*
Gold and silver are regarded as safe shelter. They will be bought when Wall Street is concerned about the American economic prospects - often due to macro and political tensions. Thus, when U.S. President Donald Trump sought to gain control of Greenland or threatened to raise import taxes with Canada or Korea recently, the prices of these two metals went up.
"The investor's view is that if the stock market had a major adjustment, or inflation suddenly accelerated back, gold and silver would hold the value", Ole Hansen - Chief of Communities at Saxo Bank said.
High prices make selling gold or silver attractive. But this also benefits the buyer. Goldman Sachs and Bank of America predicted the end of this year's gold price at around $5,400-6,000 a ounce.
Get out! [Movie turns gold prices into worlds in the last year. Graph: Trading Economics](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAACATATATATAEAAAAAAAAAAAAAAEAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAEAAAAAAAAAAAAAAAAAAAAAAAEAAAAAAAAAAAAAAAAAAAAAEAAAEAAAAEAAAAEAAAAAAAAAAAAAEAAAAAAAAEAAAAAAAEAEAEEAEAAAAA
- Cork turned gold prices into world delivery for the past year. Graph: Trading Economics*
Wittter Coins buys both collector coins, watches and jewelry. Sometimes, they have metal transactions worth $1 million at a time. However, when the price went high, the taking of crude metal from these items, then sending it to the refinery that remained had a higher value than the sale.
"We used to get a gold pocket watch 18 karat very nice, crafted since the 1880s. It was around 145 years old, probably needing a few people working for a few weeks, completely by hand, to create 180 different parts. But we were forced to take it apart and melt gold", Chandler told.
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Kelly Schupher, the pawnbroker's owner and jewelry Ahmad Jewelry and Pawmann in Illinois, said that the precious metal fever caused him to buy in the amount of tens of thousands of dollars per week. Since the price of gold had increased over the years, he was only surprised by the extent of the silver boom.
"I just bought a big silver suit and paid the dealer $6,000. This is crazy. A year ago, it was only about $250 or US$70", Sunderher said. He opened his shop from 2002.
Get out! [citation turns silver into worlds for a year. Graph: Trading Economics](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAACATATATATAEAAAAAAAAAAAAAAEAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAEAAAAAAAAAAAAAAAAAAAAAAAEAAAAAAAAAAAAAAAAAAAAAEAAAEAAAAEAAAAEAAAAAAAAAAAAAEAAAAAAAAEAAAAAAAEAEAEEAEAAAAA
- The silver currency has been in the world for the past year. Graph: Trading Economics*
The price of silver has increased more than 160% in 2025 - the strongest since 1979. Prior to a few passes, this year's price has increased by 32%. In addition to the role of sheltering property, the price of money is raised high due to strong industrial needs and long-term supply shortage conditions.
"A month ago, only a few people brought the silver to sell each week. At present, almost every day there are dozens of people or more bringing in silver", Seth Gold - Deputy President of American Jewelry and Loan in Detroit (Michigan) said.
When the price of gold and silver is high, people carry more than just traditional silver or gold bars bought from Minos to sell. Many customers even searched the drawer for scrap gold and old jewelry, broken.
For Americans who are struggling with the basic cost of living, the sale of precious metals gives them significant sums of money, even a change of life. "In this economic situation, when someone comes in and just expects to get a few hundred dollars for the scrap gold, but you tell them it's $850, they're going to be stunned", Schuher said.
Many say that they could not believe that the junk bags in the drawer were of such great value. Someone even burst into tears. "They feel like there's a large amount of money coming down from the sky," he said.