As viral pandemic shoots down stock market, gold and silver prices skyrocket

Local News

A lot of the time, that gold or silver could be just sitting around your house

BOARDMAN, Ohio (WKBN) – Even though the stock market took a dip because of the coronavirus, gold and silver prices did not — they’ve actually gone way up.

“It slowly started to come back up before the COVID spikes happened and afterwards, it ran through the roof. We’re looking at $1,725 an ounce right now [for gold], which is the second all-time high,” said Mike Miller, owner of The Coin Shop in Boardman.

Even though it may be dated, gold is still gold.

“A lot of times, customers will say it’s from 1898. I can buy it off of you as a coin or I can buy it off of you as gold. Believe it or not, it’s worth more as gold, most every time,” Miller said.

Silver is now sitting at over $18 per ounce.

“So when you look at a silver quarter from, let’s say 1955, the coin itself might be worth a dollar as a coin but it’s worth a lot more than that as silver,” Miller said.

A lot of the time, that gold or silver could be just sitting around your house.

“People had no idea. This is what’s sitting on their dresser collecting dust because it’s something that they haven’t worn since the ’90s,” Miller said.

Miller likes to quiz people when he finds out the value of how much an item is, asking the customer how much they think it’s worth.

“Look at this bag. We talked about this bag of 14 karat gold. You had guessed it at about $2,500. I would pay you $6,900. Actually, $6,908 for this much gold jewelry at 14 karats,” Miller said.

If you’re looking to sell any of your gold or silver at The Coin Shop, you must also bring a valid ID.

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