Question: Who Pays More For Gold Pawn Shops Or Gold Buyers?

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.