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Rising gold prices bode well for kiosks paying cash or gift cards for gold and jewelry

March 13, 2017

Goldstϋr, developer of an automated kiosk for converting old or unwanted jewelry into cash or store gift cards, is poised to capitalize on a spike in gold prices that is driving an increase in sales and recycling of jewelry and other items, according to a press release.

Bloomberg recently reported that gold recycling experienced its first annual increase since 2009, with prices rising 26 percent in the previous year. That run-up in turn is motivating people to sell old and out-of-fashion jewelry, coins and trinkets in order to capture that value. Conditions driving the rise in gold prices include a stronger dollar, international turmoil and a rein on U.S. borrowing costs.

"The goal with our kiosks is to provide people with an easy, accurate and pressure-free way to convert items with gold, silver or platinum within the confines of a safe and comfortable supermarket environment," Goldstϋr COO Kevin Miller said in the press release. "With the jump in gold prices, more and more people are seeking just this kind of solution. Plus, it provides a new option for retailers to increase store revenue as other channels decline."

With Goldstϋr kiosks, consumers are not required to part with their jewelry as in a cash-for-gold mail order service. And there are no middlemen or haggling to deal with as may be encountered in pawn shops or store-front gold buying operations.

The process takes just two minutes and a $2.00 appraisal fee, with offers based on commodities market prices that are updated every hour. Consumers can choose from a cash receipt or store gift card as payout. If the consumer decides not to accept the bid as shown on the kiosk screen, they can simply decline the offer and retrieve their jewelry.