Know Whether Pawn Shops And Cash For Gold Shops Are Worth It


When it comes to selling your gold jewelry or coins, you must know the right shops to visit so that you are sure you are not being taken for a ride. You will come across so many gold buyers in your area that you will find it difficult to find one that you can trust. The most common ones you will come across are the pawn shops and the cash for gold shops. Few of these are really good and will pay you the highest possible price for your gold but all mat not be created equal just like your gold jewelry. However, there are ways in which you can separate the good one from the rest.

The Pawn Shops

When it comes to sell off your inherited or unused gold and coins, the first choice happens to be the pawn shops. Though this is not an unreasonable choice given the fact that these shops are licensed and regulated by the government still there are a few things that you must care for.

  • Find the ones that are most reputed.
  • Check whether these shops specialize in buying gold as many are not.
  • Find out whether they know the real worth of gold and whether it matches with your findings.
  • Compare their prices offered with other quotes that you have obtained.

At the very least all this will give you a fair idea as to who is lowballing on your gold price.

Cash for Gold Shops

When you see Cash for Gold sign holder saying we buy gold NYC, do not think that your search for an authentic buyer of gold has ended. It is just the beginning of it in fact. Due to the huge demand of cash in lieu of cold, such shops are fond every nook and corner of the street. This makes it all the more difficult to find a place for selling gold at the highest price possible. All these shops are not reputable always and most of these will pay you 40 to 60 percent less than the legitimate price of your gold.

Things To Look For

Therefore, when you look for cash for gold shops make sure you research about them. As knowledge is power make sure you gather important facts and information such as:

  • Their license and specialization
  • Associations with the NGC and PCGS and NGC regarding buying of gold especially
  • How many years are they in business
  • Positive feedbacks and reviews of a few previous customers

Also read reviews to know their reputation in neutral third party site such as the Better Business Bureau.

Value Of Gold

Valuation of your gold is very important and even if you know what you can expect from your gold piece the gold buyers will evaluate it by them. This is the time you should be more careful as many buyers will use faulty scales to offer you scrap value to melt your metal. As a rule of thumb always avoid stores that are unregulated and unlicensed.

Author Bio: Karen is a Business Tech Analyst. She is very responsible towards her job. She loves to share her knowledge and experience with her friends and colleagues.

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