Things You May Not Know About Selling Gold To A Pawn Shop

Pawn Jewelry There are a lot of ad dollars being spent by companies that promise to give you top dollar for gold, silver, and more. While this is not inherently bad, you may not realize that a lot of the companies doing this are not going to give you a lot of money. The reason why is simple, they have a lot of overhead, and fees associated with the buying process.

They will give you money, no doubt, but they also have to pay back their sales people, the administrative costs, and so much more. People all over the country are feeling the sting of the fees that cut into an otherwise promising financial move. That’s why it’s better to go with a good pawn shop, instead. If you have never sold your gold to a pawn shop, but are interested in doing so, consider a few things beforehand, so that you are not left out cold when dealing with this process today.

Before You Sell Anything

The first thing that you need to consider is whether or not you even have real gold. Many people have gifts, and different jewelry pieces that they don’t even realize are fake or not fully gold. Composite metal blends, toy jewels, and so much more get passed off as the real thing, and you may not even know that you have one of these items. You can usually tell if something is real or not based on the discoloration of the item when you try to clean things up, and the weight of it. If you have something that is light, if you have something that is discolored, and doesn’t seem right, it may not be gold. However, if you feel that it is of value, has jewel elements, or you just aren’t sure, you can always get it appraised.

Broken Jewelry and Pieces

Not all valuables are in good working order. There are some individuals that will have items that are 100% worthwhile, but are not necessarily in good shape. This is often seen with broken, missing, or old gold pieces of many types. Let’s say you had a bracelet or a ring that broke, you can still salvage it, and get top dollar for it. The pawn shop you sell to will take your items, and then weigh them. They will weigh them out, clean them, and see what you have. Chances are, even a broken ring or bracelet will be made of solid gold or silver, and will weigh a great deal. This weight means everything when selling. If you have over an ounce of a precious metal, even if it’s broken, or not in working order, you’ll get full market value for the actual metal, not what it used to retail for or what it used to be worth.

Getting Fair Market Price

Pawn-And-GoldAt the end of the day, you’re going to find that there are a lot of solutions that you can pursue in regards to selling precious metals. But above them all, pawn shops offer the most versatility and the best rates overall. You’ll find that it’s rare to get another option that will give you the same market value as this, and it will be proven time and time again. Test this out once, and you’ll get top dollar for your items, even if they are broken, or not being worn today. Don’t let things collect dust, test out the value by going to a local pawn dealer and see what you can get. You’ll be surprised by what you find today, as there are a lot of options to consider.


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