In Tampa, Florida, even the wealthy are turning to pawn shops as a means to make some extra cash.  More and more, Capital Pawn owner Joe Cacciatore is seeing high-end luxury brand jewelry and goods.  Although pawn shops offer less than the actual value of the goods they purchase, people who have been hit hard by the economic recession are selling their diamond jewelry and other extravagant items.

Doris Sempert, one of the regulars at Capital Pawn told FOX 13 in Tampa, "When you lose close to half your nest egg, you have to think about some other ways to get discretionary money.  I'm sure we aren't the only ones that have that issue."  Pawn shops have been getting more and more expensive goods as the economic crisis wears on.  Says Joe Cacciatore, "We are the oldest loaning institution on this planet.  Pawn shops have been around since Medeival times." 

Now, among the other treasures in the shop, Cacciatore carries several watches by Rolex, including the Ladies Pearlmaster, which retails for about $29,000 and is covered in diamonds.  A short time ago, an anonymous member of the champion Tampa Bay Buccaneers pawned his diamond-encrusted Super Bowl ring. 

Although the market is tough, and diamond value has plummeted, one thing that is still worth its weight in gold is...gold.  Businesses like pawn shops and Cash4Gold know that they will still be paying a premium price for gold items, but not as much as the original buyer paid for it.

Some might see pawn shops as taking advantage of people in a time of need, but owner Cacciatore explains that, "We've helped a lot of people save their houses, their cars, their businesses."  Either way, both sides are helped to some degree.

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