'Pawn Stars' Star: I'm Thinking Of Selling Some Of My Personal Gold At A Loss

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Rick Harrison, proprietor of World Famous Gold & Silver Pawn Shop and star of History Channel's "Pawn Stars," thinks the price of gold could head lower. 

"I'm actually considering selling a little bit, taking a capital loss, and buying it back in a month," Harrison told CNBC this morning. "I think a lot of people should consider doing that — you'll save a little money on your capital gains."

As we've seen this week— though not in the last few hours — gold has been plummeting.

However, Harrison noted that while gold is plunging on the commodities exchanges, he's finding it difficult to build an inventory for his shop.

"I retail gold and silver and I'm having a real difficult time right now getting physical metal," he explained. "It's the crazy world about gold and silver: Sometimes the paper market is going down but you can't find actual physical items."

The reason, he said, was a lack of physical product, which he blamed on private and government mints not keeping up with demand.

But this same phenomenon should help prices see a bottom shortly.

"I still pay right around spot — I don't think it's going to go much lower," Harrison said.

This is a similar argument made by Peter Schiff to our Mamta Badkar: If miners shut down, physical supply will grind to a halt, which will cause prices to rise. 

Of course, being a pawn shop owner, Harrison refused to disown the gold trade.

"It's a good insurance policy — the government can screw up the currency," he said.

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