Sears and Kmart to Offer Cash-for-Gold Service

CHICAGO (Reuters) - Sears Holdings Corp , which expanded its layaway program to help cash-strapped consumers pay for purchases during the recession, is now helping its customers exchange their jewelry for cash as gold prices soar.

The new service, available at the jewelry departments of Sears and Kmart stores, allows customers to send their gold and silver items to Pro Gold Network, a company that buys precious metals from consumers.

Pro Gold makes an offer on the gold or silver and the consumer can choose to accept the offer or have the items returned, free of charge, Sears said.

Sears provides the shipping envelop and also helps consumers track the items via websites or a toll-free customer service number.

Sears has seen sales pressured over the past two years by the weak economy and has also lost sales to discounters like Wal-Mart Stores Inc and electronics retailers like Best Buy Co Inc . The company did say, however, that sales improved in the first quarter.

In 2008, it expanded its layaway program as a way to help cash-strapped consumers pay for goods.

Advertising from companies offering gold recycling services had reached a fever pitch in late 2008 due to a global economic crisis, as the price of gold climbed above $1,000 an ounce in a flight to safety.

Last week, gold has soared to record highs at just below $1,250 an ounce as jittery investors fretted over sovereign risks and inflation.

Bullion is still far away from its inflation-adjusted record at over $2,200, analysts said. In 2001, gold was trading at just $250 an ounce.

(Reporting by Brad Dorfman and Frank Tang, editing by Dave Zimmerman)

Views: 34

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Latest Activity

Chris of the family Masters left a comment for Anny Hill
"Welcome Anny!"
57 minutes ago
Chris of the family Masters left a comment for James Sweeney
"Welcome James!"
58 minutes ago
Chris of the family Masters posted a photo
1 hour ago
Profile IconJames Sweeney and Anny Hill joined 12160 Social Network
1 hour ago
Chris of the family Masters posted videos
1 hour ago
Raz Putin shared a profile on Twitter
1 hour ago
Chris of the family Masters commented on Sweettina2's video
Thumbnail

CPS vs well educated man who knows his Rights 1st Amendment

"Same old, same old who is the witness/reporter? Nobody will stand up. The conclusion- hearsay!"
1 hour ago
Chris of the family Masters favorited Sweettina2's video
1 hour ago
Sweettina2 posted a video
1 hour ago
ron proul commented on Doc Vega's blog post The True Culprit behind Cattle Mutilations?
"Possible but doesn't explain those found on remote ranches in states like Montana, Idaho, and other western states."
3 hours ago
Doc Vega commented on Doc Vega's blog post Victim of Memory
"Raz Putin Thanks man!"
4 hours ago
Mrs. Tif Morgan commented on Mrs. Tif Morgan's video
Thumbnail

ISIS Calls Followers to "Take Revenge" for Take Revenge Terror Attack

"Patriot Groups, are listed as terrorist, by this so called Gov of the USA, well, that means you are listed as a terrorist. And according to the YouTube Administration, ISIS Terrorist Are a Organized Crime Figure Not Terrorist. So they deleted the…"
5 hours ago
Mrs. Tif Morgan posted a video

ISIS Calls Followers to "Take Revenge" for Take Revenge Terror Attack

TifMorgan@Bitchute.com: https://www.bitchute.com/video/eEmyyCUX0HRd/ Isis Calls on Followers to ‘Take Revenge’ for New Zealand Terror Attack: http://12160.in...
5 hours ago
Diana favorited Exposure's blog post Death Threats to Author - All in a Days Work When Exposing the Truth!
5 hours ago
Diana favorited cheeki kea's blog post 5 Malignant Civilizations That Make You Grateful Life in Today
5 hours ago
Diana commented on cheeki kea's blog post 5 Malignant Civilizations That Make You Grateful Life in Today
"Proud Celtic.  The Celtics were one of the most advanced as far as equality of the sexes.  Women were also warriors, could have power, own land, and even divorce in Celtic society, which was unheard of in the classical world. They…"
5 hours ago

Please remember this website is supported by your donations...

© 2019   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2015 - all rights reserved. unless otherwise noted