15 Jul 2011

Hardship fuels American Samoa gold sales

1:22 pm on 15 July 2011

The chief executive of a company sponsoring a five-day gold buying event in American Samoa says one reason they chose the US territory is to give people an alternative way to make money as the economy declines.

Secured Gold & Silver Buyers experienced a rush from residents eager to sell on the first day of their buying spree.

The company's chief executive Ryan Knott says it's another money-making option for people

"American Samoa, specifically the canneries but other industries as well, have been hit pretty hard and people haven't had alternative sources to get rid of their unwanted gold or silver. I'll tell you, we get very special warm reception throughout the South Pacific customer base of ours."

Ryan Knott says Secured Gold & Silver Buyers is licensed to conduct business in more than 300 markets.