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Is it a Good Idea to Buy Gold from a Pawnshop?

When planning to purchase gold coins or jewelry, visit your neighborhood pawnshop before you visit a jewelry store. Pawnshop are a surprisingly great choice when it comes to buying gold. If you choose to buy gold from a jewelry store, be prepared to pay top dollar for your purchase. On the other hand, you might find great deals on gold in a pawnshop. There are several other benefits of buying gold from a pawnshop. Here are the top reasons why you should buy jewelry from a pawnbroker.

Benefits of buying gold from a pawn shop

Good selection of gold jewelry

A lot of people just love the distinctive experience of shopping for jewelry and other items at a pawnshop. Pawnshops usually have a wide range of gold and silver jewelry. At a pawnshop, you will find everything from branded contemporary gold jewelry pieces to some really amazing antique pieces. In fact, you may find some unique gold jewelry pieces that you won’t find at your local jewelry store. Even if you don’t find something of your liking, make sure you visit the pawnshop again after a few days to check out fresh stocks.

It is more affordable when you buy gold at a pawn shop

Buying gold jewelry from a pawnshop rather than a jewelry store will almost guarantee that it is more affordable. Most pieces available at a pawnshop are second hand, so they are not as expensive as the brand-new pieces you find at the jewelry stores. Buying gold jewelry at a discount does not mean you are buying old, poor-quality stuff. Gold is gold regardless of how old it is. It does not lose its value.

It’s authentic

Many people are apprehensive to buy gold or other expensive things such as gold from a pawnshop because they are concerned about the quality and authenticity. However, pawnshops authenticate all gold jewelry pieces that they buy and sell. So, you can stay confident that when you buy gold you are getting your money’s full worth.

Take it home the same day

When you like a piece of gold jewelry in a jewelry store, you may have to wait for a few days for it to be ready. The piece is sized, engraved, and customized, which could mean a long wait before you could wear your new piece of jewelry. However, when you like something at a pawnshop, you just pay for it and take it home immediately.

Things to keep in mind when you buy gold from a pawnshop

Learn about gold purity

The weight of gold is measured in troy ounces. Each troy equals 31.1034768 grams. However, the purity of gold is measured in caratage, which is the measurement of purity of gold alloyed with other metals. 24 carat gold is pure gold with no other metals. In other words, an 18-carat gold ring will be more expensive than a 14-carat gold ring. Your pawn broker must tell you the purity of gold he is selling to you.

Be ready to negotiate

Unlike a jewelry store, where you pay exactly what has been quoted, you can negotiate with your pawnbroker when you buy gold at their shop. There is no guarantee that you will be able to negotiate a lower price but it is worth a try.

Have a budget in mind

It is always better to have a budget in mind before you visit the pawnshop. You must know how much you can afford to pay.

The next time you wish to purchase a piece of gold jewelry, visit our pawnshop, and check our amazing collection. You will definitely find something that catches your fancy and suits your budget. We are here to help you with any questions about how to buy gold.