Greeks are selling their silverware to survive!

A few years ago, many were those who rushed to predict the disappearance of the profession of “moneychangers”; the people, that is, who lived off the sale of gold and who are remembered working in the street of Athens by older people.

But now, not only are the crisis and the need of many households for cash leading this forgotten profession to new prosperity, but also it is being transformed and appears to be elevated to a higher marketing level, since offices and shops engaged in the buying and selling of gold have been appearing here and there.

Advertisements for new companies that have been set up and are named after the English word for the metal (Euro Gold, Gold Buyers, Xenia International etc.) are already blooming.

The neo-moneychangers are exploiting the Greeks’ need for cash and are even trading 18 carats for 19 euros. A simple walk in the centre of Athens is convincing enough, while several companies are advertising themselves on the Internet and in newspapers.

As many traders who are engaged in this activity told us, “the poverty of many Greeks is leading them to sell their valuables, even gold teeth or watches that are heirlooms”. Currently, the Greeks are selling everything from lire and gold bars at prices significantly lower than those offered by banks, to jewelry, gold teeth and broken chains.

It should be noted that the precious metal had been recording an upward trend for the last decade, but after the collapse of Lehman Brothers its value began recording one historical record after another, on a par with the dollar, euro, sterling and Swiss franc.

Three years ago, those who mentioned trading in gold were criticized for bringing back the financial Middle Ages, while for the last two years the central banks, who had been the official gold sellers until recently, are only buying now despite gold’s successive highs.