ANDREW Swenson knows more than most that all that glitters is not gold.

But with the price of gold hitting a record-high $US1603.40 an ounce last week, the demand has never been higher.

“We’re pawnbrokers, so we buy and sell everything,” the Cash Shop manager said.

Even gold teeth, if the price is right.

“It’s been a while since anyone’s sold us their fillings, but believe me, it has happened.”

Toowoomba investors are increasingly looking to gold as a “safe haven” from unsettled financial markets.

With top commodities experts predicting a price in excess of $US2000 an ounce in 2012, Mr Swenson says now is the time to buy.

“A lot of people are looking to invest in something, and gold is a fairly sure bet,” he said.

“It’s really the go-to-thing at the moment.”

Mr Swenson said the real money was in scrap gold — melting down jewellery to its core element.

“It’s got to the point now that if I have a diamond studded gold ring, I’m better off selling it all together,” he said.

“The gold is worth more than the diamond.”

Mr Swenson’s vast collection of pawned gold includes an Australian 1980-mint $200 gold coin, now selling for $400.

“That’s 10 grams of pure gold, so it’s still cheaper than the average price of gold.”

He also has access to bullion and ingots through an international gold trading company.

Within three days Mr Swenson can have bullion delivered to the store, for a 5 per cent finder’s fee.

“It happens more often than you might think in Toowoomba,” he said.

Profits have slowed a bit in recent months, but the global demand to hedge bets against the volatility of financial markets has kept business steady.

“At the end of last year and onwards was when we had the big jump in prices,” he said.

“Now people are a lot more aware of what gold’s worth, so we operate on a lot smaller margin.”

For the next six months, seeing a gap-toothed grin might not be a sign of dodgy dental work.

It could be a precursor to riches.