On average, our customers say pawn shops offer to pay anywhere from 20%-70% of the value of your items.
Jewelers offer to pay anywhere from 40%-75%.
And precious metal buyers (like us), pay anywhere from 55%-95%.
You can see those percentages overlap a bit, but the spread for pawn shops is concerning.
Should I sell my gold at a pawn shop?
There’s typically room for negotiation, but you’ll almost always receive far below what a reputable bullion dealer will offer. Therefore, we don’t recommend selling to a pawn shop. But if you need to go this route, knowing how to sell gold and silver in a pawn shop will help you get the best price.
How much does the pawn shop pay for gold?
And 14 karat gold will “scrap” at $23.50 per gram.
What percent of spot do gold buyers pay?
The global spot price of gold since 2000.
The more competitive ones will usually offer around 70% to 80% of gold’s current market value for jewelry. Gold bars and coins usually reap a bigger payday – often more than 90% of their melt value.
How can I get the most money for pawning jewelry?
Here are 5 tips to keep in mind when pawning jewelry.
- Know the Value. You should know the value of what you have before you step foot in a pawn shop.
- Always Negotiate. You can negotiate for a better price.
- Clean Your Jewelry.
- Presentation Matters.
- Know the Gold Prices.
How much do Jewelers pay for gold?
Pure gold is currently paying about $1250 per ounce. By going through the math, this means that 10 karat gold will “scrap” at about $16.35 per gram. And 14 karat gold will “scrap” at $23.50 per gram.
How much is a 14k gold ring worth?
Now, since 14K gold is only 58.33% actual gold, we divide the per gram price of pure gold ($37.531) by 0.5833 to arrive at a 14K gold price of right at $21.92 a gram. Now you multiply the weight of the ring in grams by the price per gram at 14K, and you have the spot price of your ring.