Selling gold to a pawn shop

Selling Gold to a Pawn Shop

Do you have some jewelry lying around, looking for some extra cash, and eager to know how much is gold worth? Selling gold is a simple process; you just have to be aware of the market that you choose to partake in. Precious metals and jewelry are always known to maintain a constant value. That is what makes them some of the best assets to acquire. Humans have been wearing, using, and trading these precious commodities for a long time.

Essential Steps to Selling Gold

First thing recommended for you to do is to look at the current market value of gold. It is very important that you understand how gold is measured so that you can determine the value of what you possess.

Grams are the smallest unit of measurement in the market currently. In most cases, you will possess less than a pound of gold, so you will be selling gold by the gram.

Prior to going to the pawn shop, you will want to find out the weight of your pieces to understand how much is gold worth in this market. A decent kitchen scale should give you are accurate reading if you have one around.

Next you have to determine the purity of what you are selling. Gold purity is read from a small stamp imprinted on the piece. Those stamps have numerical indications followed by a letter “K”. The letter “K” is an abbreviation for the word “Karat”. The purity level of the top five most common increments will be listed below:

24K – Contains 99.9% Gold.

22K – Contains 91.7% Gold.

18K – Contains 75% Gold.

14K – Contains 58.3% Gold.

12K – Contains 50% Gold.

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With the weight and purity of the gold you can determine a rough estimate of the possible market value of your gold. To get the most accurate price for the items you want to sell, you should have them appraised. The appraisal specialist may be able to determine if the pieces have some historical significance and exactly how much your gold is worth.

Finally take the pieces that you intend to sell to the pawn shop, and see what offers they give you based on your own analysis and the appraisal. If you want top dollar, try negotiating and other locations.

Want to know how to find out if a pawn shop is credible and trustworthy? See how to find out here.

Come check out our pawn shop here.