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Cash for Gold Stores Assets, Not Burdens to Town

Chamber of Commerce members to store employees say these stores reflect the economic times and could provide a necessary service to locals.

Patch readers have shared comments regarding the influx of cash-for-gold stores popping up throughout the town, largely that they are negative and could bring potential crime into the town – but not everyone shares that same opinion.

"People can't afford to pay their bills. If these stores weren't here, what would they be doing?" said an LI Gold Mine employee who asked to remain anonymous. "People that come here are people that keep coming back because we treat them with respect ... we're here to stay, we want to stay, and we're here to help the people."

Some say they arrived in town from a need.

"They're businesses and they're legitimate businesses, and some would say they're a sign of the economy," said Mark Mancini, president of the Greater Smithtown Chamber of Commerce.

Barbara Franco, executive director of the Greater Smithtown Chamber of Commerce, confirmed that both LI Gold Mine on Smithtown's Main Street and A&D Gold & Silver Exchange in St. James are chamber members.

While many of these businesses have a negative image surrounding them, the negative image for those cash-for-gold stores in the town might not be valid.

"I walk the street late at night and I've never seen shady characters or anything around these businesses, I don't think they're attracting anybody negative to town," Mancini said.

The chamber president also said these stores must be bringing in a lot of local clientele with the amount of them open in the area, referring specifically to having three open on Smithtown's Main Street.

"Yes, you're taking grandma's ring and pawning it for cash because you're in an economic need," he said. "But they offer a need, which obviously they must be successful if there's three of them."

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KFM May 21, 2013 at 04:17 pm
How, in a period of rapidly declining enrollment, can costs be increasing so much from year to year,Read More you ask? The answer is in front of you in black and white. I urge you to READ your district’s budget: we are funding retirements when many of us cannot afford to fund our own during difficult economic times. These wheels were set in motion by contracts negotiated in times of unrealistic growth that may likely not occur again. It is time to open up these plans and relieve this unfair burden from our shoulders. Whatever other measures are pursued in order to control costs, including consolidation within and eventually with other districts, are never going to be enough if you cannot get this problem corrected. Write your congressman, for the love of God. If you need any more incentive to do so, please go to http://rocdocs.democratandchronicle.com/database/teacher-pensions-new-york and look at what Smithtown’s retirees are collecting MONTHLY. It will sicken you.
KFM May 21, 2013 at 04:12 pm
They are allowed to exclude the pension and employee benefit increases when expressing the increase.Read More
Billie B May 20, 2013 at 10:17 am
Tomorrow is the vote..vote NO NOW or our taxes are going to continue to sky rocket. Unless we doRead More something this town will continue to spiral down. More taxes aren't going to help. We need to cut expenses and get ourselves on a fiscally responsible plan.