PORT CANAVERAL, Fla., March 18 (UPI) -- Metal detector dealers and pawn shops in Central Florida said business is booming because of the recent rise in the price of gold.

Retailers said treasure hunting beachgoers are causing metal detectors to sell out, and pawn shops near beaches have seen a high volume of people seeking money for their discovered gold, WKMG-TV, Orlando, Fla., reported Tuesday.

Experts said gold, which currently sells for more than $1,000 an ounce, is at an all-time high in value. The previous record was $800 per ounce in the 1980s.

"No one in history has ever seen it like this," said jeweler Jesse Ross. "It is the highest it's been in the world history."

Some Floridians said they have traded their own gold jewelry for cash.

"The jewelry was a luxury to have, but I'm selling it for necessity reasons," resident Marie Savickas told a reporter.