PawnMaster Blog

Metal Speaks

Sometimes we catch it ..... A c lient calls. Their shipment is prepared and ready  to ship to our company. Weights are discussed. Hedge and advances are discussed... All good, right?

Refining Views - Shipping Your Materials

Refining Views - The Market

Gold is Not the Problem

As you know, we love the pawn industry. A few weeks ago, we presented and exhibited at the NPA Convention in Las Vegas I heard something very disturbing.  I must have heard at least 200 owners talk about how they are not making money the way they used to in this industry. What is more disturbing is at least half of those, when asked why not, immediately responded” because gold is down from $1,856 at its highest to $1,230 an oz. now... It amazes me that so many of the people we spoke to had this as their main reason for down profits. I hate to be the bearer of bad news, but the price of gold is only one of the many challenges you face right now that is causing less profitability in your pawn shops than in years past.

Posted on 13 Sep 2017

Don't Know Much about the Stone Removal Process? Peter B. Spector Can Help


Stone removal is, and should be, an important part of the pawnbroker’s and jeweler's process. If you’re not doing it, you should be, and if you’re not familiar with how to do it, that’s where I come in. Stone removal is a terrific, easy process. It’s incredibly affordable, and it’s a simple way to gather items of value to bring to a convention to be able to sell.

Refining Views

passion  pas·sion. ˈpaSHən/ noun

1. Strong and barely controllable emotion.
"a man of impetuous passion"

My name is Peter B Spector.

I am the Senior National Accounts Manager with GEIB Refining Corp. in Warwick, Rhode Island. I love what I do and I love my clients.

I have worked tirelessly for 17 years in the refining industry to earn a great reputation and following in the pawn industry, retail/Mfg jewelers as well as other industries that accumulate precious metal bearing materials. The owner of my company once told me, "the harder you work; the luckier you get" I believe that; don't you!?

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