Is it better to sell gold to a jeweler or pawn shop?

If you want to sell your jewelry, a pawn shop is probably still your best option. This is because a retail store must be interested in your specific item in order to purchase it. On average, our customers say that pawn shops offer to pay between 20 and 70% of the value of their items. Jewelers offer to pay between 40% and 75%.

Alternatively, if you are looking for a more secure investment option, you may want to consider setting up a Gold IRA. With a Gold IRA, you can set up a retirement account and invest in gold, silver, and other precious metals. And buyers of precious metals (like us) pay between 55 and 95%. We've also listed alternatives to selling gold jewelry at a pawn shop, including selling gold jewelry online. It's usually not worth selling gold bars, gold coins, and other forms of investment gold in a pawn shop, but it's better to sell them to a buyer who specializes in gold bars.

Instead, most gold jewelry is a mix of gold and other metals that are added to increase durability and resistance to scratches. Be sure to separate 10, 14 or 18 carat gold items at the pawn shop, because if you weigh them all together, you may receive a quote based on the lowest purity gold. While most stores pay approximately 50 cents for every dollar of scrap gold, Abe Mor offers up to 75 percent of the scrap value of gold jewelry. Gold prices can change quickly, so it's important to check the current price before visiting a pawn shop or other business that buys gold.

Because the price of gold is higher now than in years, many people are looking for the best possible way to convert their gold and other precious metals into cash. You can then calculate the approximate value of gold by multiplying the gold content by the current price of scrap gold. The main attraction of pawn shops is that they offer fast money in difficult financial times, but if you want a higher offer, selling to a gold buyer is usually the best option, especially if you sell to Gold Guys. Here's what you need to know if you plan to sell gold jewelry or any other gold item to a pawn shop.

They also offer a price match guarantee, meaning you can get a higher price than at a pawn shop or other traditional business that buys gold jewelry. When selling gold or other precious metals to a gold buyer, the buyer will assess the purity and total weight of the item before making an offer.