Whether you have unwanted gold pieces or an overflowing jewellery box. You can turn your old unwatned gold jewellery into instant cash by finding a pawnbrokers near me and selling it to nearest pawn shop in your local area. We’ve all gone through some tough times at a stage of our lives and need fast money. A perfect place to free up some cash is a pawnbroker that evaluates your gold on the spot to give you cash in hand.
How Much Will a Pawnbroker Pay?
You can expect money based on the current gold price. However, remember it keeps fluctuating quickly. Therefore, the best is to check it on the pawnbroker’s website before visiting one. Still, pawnshops do not pay the gold market price as they still need to make a profit and present you with a lower cost per gram.
On the other hand, your buyback price will include the fineness of your gold jewellery. The truth is that jewellery is not made with 24K (100%) pure gold and has a blend of other metals. So check the purity of your gold on the stamp on each piece. Jewellery is mainly made with a 10k to 18k gold fineness.
The higher the karat, the more the pawnbroker will offer for cash. Laslty, the gold buyback price will also include each piece’s pawn shop’s resale value. Therefore, it is crucial to look at different pawnbrokers near me, as their offers will vary.
While pawnshops base their offer on your gold jewellery on the current gold price, each one is unique regarding their operating costs and profit margins. These are taken into consideration when making a buyback price. In addition, pawnbrokers look at the resale value and how the pieces will sell. For example, if you have an engagement ring, it sells easier than antique gold pieces.
Tricks and Tips to Sell Gold Jewellery
Always know your fineness by checking each piece and separating them into groups according to the gold purity. Once you know the gold purity, you can calculate the value by multiplying it with the current gold price. Still, you will not get the total market value. Weigh each piece as per the fineness to know the weight in grams as you will get the same weight at the pawn dealer.
Take advantage of Selling Your Jewellery to a Pawnbroker
The most significant advantage of selling gold to a pawn shop is getting immediate payment. You do not need to wait for the money to clear in the bank and get cash in hand if strapped for cash. In addition, you need not courier your item to another city just to get a buyer.
So, visit a few pawnbrokers to get quotations on how much they will offer. Selling your precious metal pieces to a pawn shop will give you an instant payday making it an attractive option if bound for cash.