Rick Harrison, proprietor of World Famous Gold & Silver Pawn Shop and star of History Channel’s “Pawn Stars,” says he is getting out of gold — at least for now.
Harrison told CNBC this morning that he’s seen enough.
“I’m actually considering selling a little bit, taking a capital loss, and buying it back in a month,” he said.
I retail gold and silver and I’m having a real difficult time right now getting physical metal. It’s the crazy world about gold and silver: sometimes the paper market is going down but can’t find actual physical items.
The reason, he said, was a lack of physical product, which he blamed on private and government mints not keeping up with demand.
Of course, being a pawn shop owner, he refused to disown the gold trade.
“It’s a good insurance policy — the government can screw up the currency,” he said.
Still, how bad is it going to get?
“I still pay right around spot — don’t think going to go much lower.”
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