M.C. Hammer Called – He Wants His Chains Back

We have noticed a gold trading trend gaining more and more steam: thick, gold, 1980’s style chains are back in style.

When gold prices go down, the demand for these gold chains increases. It seems that these heavy chains are very sensitive to the gold price. The trend seems to indicate that people are using the chains like a form of quasi-bullion. The chains are large and thick, so they contain a lot of gold. Since they were out of style and the gold price was high, recycling or trade-in was almost all they are good for. And in some cases, they may be easier to get than certified gold bullion.

Unfortunately, we have yet to see someone fully exploit the chains’ investment potential. For example, if one needed a little extra money for the month, but gold prices weren’t high enough to justify selling the entire chain, they could sell a few links from the chain instead. Gold chains could be like a modern day version of pieces o’ eight.

Using the chains for that purpose could be beneficial to the scrap trade overall. Otherwise, the gold stops flowing and pawnbrokers, jewelers, and other have less to work and trade with. Have you come across lots of 80s style gold chains lately? Let us know by posting on our Facebook page.

Manhattan Gold & Silver Update

We will be opening back up on May 18th, 2020 with limited hours from 11:00am – 2:00pm. The easiest method for metal processing is to either mail, or drop off/curbside service. Customers will not be allowed in the exchange at this time. 

If you have any questions you can still contact us at 212-398-1454 and sign up for our newsletter for further announcements.

Most importantly, please stay safe! 

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