A Guide to Buying Gold or Silver from a Pawn Shop

If you have been planning to buy gold or silver jewelry, now is the perfect time to invest in a piece. Many people who are interested in purchasing high quality gold and silver jewelry pieces may not know where to turn. The internet is always a go-to for many potential buyers, however, this can lead you to unverified websites and stores, leaving you at a higher risk of buying fake pieces. 

When you want to buy genuine gold or silver for a great deal, try heading over to your local pawn shop. Buying from a pawnshop means that you will pay a lot less compared to buying from a traditional jewelry retailer. Plus, you get to find unique items you can’t easily find anywhere else because their inventory changes on a daily basis. You will definitely find something that will suit your taste and budget. 

Pawn shops buy a wide variety of items from people including different kinds of jewelry such as earrings, chains, watches, necklaces, and rings. Buying from a pawn shop is a great idea but you should make sure that you buy from a reputable pawn shop. Conduct research before you buy so that you can get a feel for the pawn shop’s reputation. It is also beneficial to read online reviews so that you can familiarize yourself with other customer’s experiences. If you are unsure of how to go about buying gold or silver from a pawn shop, here is a simple guide to help you:

  • Learn about the purity

If you are about to buy gold or silver items, make sure you already know the purity for both metals. For example, the higher the karat for gold, the purer the gold is which means, it’s also more expensive. 

  • Bring cash

Credit card companies charge pawn shops when used for a purchase, so cash is a more preferred way for customers to pay. Additionally, you can negotiate for the price of the item if you pay in cash.

  • Negotiate

Whether you have the budget or not, try negotiating with the pawn broker or staff assisting you. Unlike other stores, pawn shops can lower their prices, depending on how persistent you are when negotiating. There is no guarantee of course but you can try your best.

  • Set a budget

Though you are willing to invest in a good quality gold or silver piece, it is still important to create a budget for yourself and stick to it. This is a safe way to ensure that you don’t pay too much for a certain piece. 

Whether it’s a gift for yourself or loved ones, get that perfect gift from a pawn shop today.