Rick Harrison of Pawn Stars knows a thing or two about precious metals. When you run a place called Gold & Silver Pawn, silver is important to know about. So, it is no surprise that Harrison has some insights into the current market. There have been plenty of challenges for those looking to get into physical silver recently.
In a conversation with Kitco News, Harrison explained exactly why it is so hard to find silver and get it delivered right now. Due to the fallout from COVID, there has been a lot of complications in the supply chain. It has affected almost every industry, not just the physical silver market. However, Harrison explains the complications very well.
During the conversation, Harrison spoke about keeping bullion and the challenges involved.
“It’s very hard to keep any bullion in stock and the bullion I do have I’m selling them for $4-$5 over the spot when it comes to silver. It’s very difficult to get. Physical silver is a very hard thing to find right now. I know a lot of people in the business…physical delivery is very hard right now.”
There have been plenty of pros and cons with the new pandemic market. Rick Harrison and the Pawn Stars deal with a number of items. From old antiques to old video games, jewelry, documents, and everything in between. That means he is seeing fluctuations in some areas while others flourish.
“I’m selling some video games right now for tens of thousands of dollars, just the cartridge. I can’t keep a Rolex in stock, I can’t find any Rolexes. Generally, there’s tons of people selling used Rolexes wholesale, I can’t get any,” Harrison said.
This has only led to prices rising in the market.
Rick Harrison of ‘Pawn Stars’ Says to Collect These Items
So, now isn’t a great time to get into the physical silver market. The face of Pawn Stars says not to worry. In fact, he has a great tip for those looking to get into collecting items that will one day be worth money. While there is no sure-fire way to guarantee a return on investment, his tip does make a lot of sense.
“I always ask people, ‘What was really super cool when you were 16 years old?’ That’s what’s going to be worth money when you’re 50 years old… Those GI Joes I played with when I was a kid – I wish I still had them and they were in their original boxes. Those comic books I had when I was a kid? I wish I had them now.”
Think about it, nostalgia is the root of all antique sales. People love going back and seeing an item from their childhood. Perhaps an item that reminds them of their parents or grandparents. So, start collecting, the Pawn Stars might want your stuff in a few years.