With the price of gold soaring, Mark Rich saw a chance to transform his family’s struggling jewelry business into a moneymaking venture. Two years later, Captain Cash for Gold is mining success.
“Things were looking very bleak,” said Rich, a co-owner of the 40-year-old Lakewood, New Jersey business, of the slowdown in wholesale jewelry sales. “The focus of the average consumer was more on making money and cashing out than on spending. We did an about-face.”
Captain Cash for Gold launched in 2009 to buy unwanted gold and resell it at a profit to refiners and others looking to buy. It’s one of many small ventures benefiting from the progressive surge in gold prices at a time when economic uncertainty has left equities markets reeling and long-time investment havens such as real estate decimated.