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Pawn shops, gold shops open to help with financial needs

Businesses offer loans, buy and sell gold
Posted at 4:23 PM, Mar 25, 2020
and last updated 2020-04-24 14:01:10-04

COLORADO SPRINGS — We know many people in our communities are trying to figure out how to pay their bills that will be due at the start of the new month. News5 spoke with businesses that are still open that might be able to help you find some extra cash to help get you through a financial pinch.

"I just really pray, pray and hope that things turn out well and this passes really quickly for us," said Reed Robins the owner of Altitude Pawn.

The doors of Altitude Pawn near Austin Bluffs and Academy are still open as owner Reed Robbins does his best to meet the needs of customers who are experiencing financial hardships during the economic impact of Cornonavirus shutdowns and concerns. By offering collateral loans he can take items of value and put cash in the hands of people who need it for the start of the month.

"A lot of people, if they are a couple hundred dollars short from their rent or a car payment or something like that as they are missing paychecks because a lot of people are out of work right at the moment, we are essential," said Robins. "People can't go to the bank and get a couple hundred dollar loan to tide them over. That's just not an option."

Jewelry, high end tools, antiques, guns, and even electronics are some of the items pawn shops would take a look at to see about getting you a loan, or some money to help pay the bills.

"We're happy if people want to call us and ask how does this work? we are happy to take those calls and explain to them how a pawn loan works," said Robins.

Hallenbeck Coin Gallery is also open and has been busy too as customers are investing in gold, but are also selling their own, melting it down to make some quick cash.

"If they are no longer using it, it might be a couple hundred dollars worth of gold on a necklace," said Tom Hallenbeck, owner of Hallenbeck Coin Gallery. "Especially if they have some bills pending it is probably not a bad idea to sort through and find out what they are no longer going to use."

Financial experts say it's a good idea to check with your creditors right now to see if there is any flexibility in helping you to meet your financial responsibilities.