Les Gold is one of America's most famous loan sharks. He owns a pawnshop business called American Jewelry and Loan in Detroit. This business is also the subject of a reality show called Hardcore Pawn. Les Gold says he learned the usury business from his father and grandfather. He states that the secret to success in his business is to treat his customers with respect and fairness.
Les Gold's usury business is more than just pawnshop. At the same time, it carries out activities such as lending, taking mortgages, and collecting. Les Gold claims to have obeyed the law and never resorted to violence. However, according to some critics, Les Gold's interest rates are too high and it exploits its customers.
If you'd like to learn more about Les Gold's life and work, you can watch the show Hardcore Pawn or read his book For What It's Worth: Business Wisdom from a Pawnbroker.
Les Gold is an American loan shark, entrepreneur, reality TV star, author and media personality. The third generation moneylender is the owner of the 'American Jewelry and Loan' pawnshop in Detroit, which has extended to Pontiac and Michigan. Les Gold gained international fame for the reality show 'Hardcore Pawn' featuring his family and the extended 'American Jewelry' crew.
Les Gold was born on June 20, 1950 to a Jewish family living in Detroit, Michigan, USA. He was just 7 years old when he made his first sale at 'Sam's Loans', an immortal pawn shop in Michigan that was once owned by his grandfather. The pawn shop building has now been remodeled as 'Gold Cash Gold', a pawn shop themed restaurant.
In 1978, Les Gold opened American Jewelry and Loan, the first pawn shop in Oak Park's 'Green Eight Mall' at 8 Mile Road. Later, in 1993 the shop moved to its current location, a bowling alley turned into a 50,000-foot-tall building on Greenfield Road in Detroit.
Les Gold's son, Seth, co-owns 'American Jewelry' and heads the marketing division. His daughter, Ashley, is a diamond specialist and is involved in the store's operations. Les Gold and his family have contributed a lot and even provided low-cost training and mentorship to future entrepreneurs in Detroit.
Les Gold's pawn shop TV ads caught the attention of independent producer Richard Dominick and offered Gold the opportunity to collaborate on a reality series featuring the pawn shop. Thus, 'Hardcore Pawn' was born. The show is just another heist from cult favorite 'Pawn Stars', but its rising success and unique content has set 'Hardcore Pawn' apart from the rest.
Les Gold is a pioneer in the usury business and is also a writer and speaker. He published his book "For What It's Worth: Business Wisdom from a Pawnbroker" in 2013. In the book, he shared his work experience and advice from usury.