So you’ve decided that you want to sell your precious metals. But which option is best? The answer depends on a number of factors, including the quality and value of your gold, how quickly you need to liquidate it, and whether or not you want to shop around for the best price. In this guide, I’ll compare pawn shops vs. gold dealers so you can decide which way works best for your situation.
Gold Dealers
Gold dealers are ideal if you want to sell your gold at any time or in any form. You can walk into a store and sell them your jewelry, coins and other precious metals without having to wait for an appointment or fill out paperwork beforehand. They’ll also pay more than pawnshops do on average: according to the U.S Department of Treasury’s Bureau of Engraving and Printing (BEP), the BEP rates gold at $1,200 per ounce while pawnshops typically offer only about $900 per ounce.
Pawnshops
Pawnshops are a great option for selling jewelry. They offer a loan at a fixed rate of interest, which means you know exactly how much money you’ll get when the loan is paid back. You can also get cash by pawning your jewelry, which means that if someone wants to buy it from them after they’ve had it for 30 days (or whatever time period your local pawnshop requires), then they’ll give you back some of that money as well. This helps ensure that the seller gets something out of selling their valuables–especially if there’s no resale market for what they’re trying to sell!
When compared to a gold dealer, pawn shops are unlikely to offer the best value for your gold bullion.
When compared to a Bullion Dealer, pawn shops are unlikely to offer the best value for your gold bullion.
The reason is simple: pawn shops charge a loan rate and mark up their prices. Since they don’t pay retail prices, they can’t offer you as much money in return. That’s why it’s important to know what your gold is worth before taking it anywhere else or selling it yourself on eBay or Craigslist (which we strongly advise against). When shopping around for a better price, keep these factors in mind:
Gold Dealers
Gold dealers are a good option for selling gold. If you have a lot of jewelry with precious metals, it can be difficult to find an individual buyer who wants to purchase it all. Gold dealers offer a wide range of options for selling your jewelry, including melt value pricing and payouts based on market value. This means that if the price of gold rises or falls over time (as it often does), the amount that you receive as payment will change accordingly.
In addition, gold dealers tend to be more flexible than pawnshops when it comes to payment methods and other terms of sale. For example:
- Pawnshops usually require cash payments in person at their locations; however, many gold dealers allow customers who don’t live near them or lack transportation options (elderly people) access via mail order as well as allowing checks or money orders for payment if necessary.* Some pawn shops also have limits on how much money they can give per day; others may require ID verification before accepting any type of transaction involving large sums from strangers like yourself.* If there’s something specific about your situation that makes it hard for us both then we’ll figure something else out together!
Gold Bullion
Gold bullion is gold that has been refined and shaped into bars or coins. It’s most often purchased to invest in gold, though it can also be used as a way to store value and make payments. In addition to investing, many people choose to purchase bullion because it’s easier to transport than the raw material itself: 1 ounce of gold bullion weighs less than an ounce of pure 24-karat (100%) fine gold!
Bullion comes in many sizes including 1 oz., 10 oz., 100 gram and even 1000-gram bars (about 2 pounds). If you want smaller units of currency but still want something larger than just 1/10th of an ounce then consider purchasing junk silver coins instead of bars – these are typically priced at about $0.50 per troy ounce which works out well if your budget isn’t very big but still allows for some investment potential down the line when prices rise again after hitting rock bottom during recessions like we saw during 2008’s Great Recession.”
Pawnshops offer lower prices than gold dealers
Gold dealers charge a premium for their services. Pawn shops, on the other hand, are not in the business of buying gold and therefore do not need to pay for overhead that includes security guards, insurance and other expenses associated with running a retail store. In addition to lower overhead costs, pawn shops also offer lower prices than gold dealers because they don’t have as much concern about quality or whether an item has been stolen or not (although some may).
Gold dealers offer higher quality and more options
Gold dealers offer higher quality and more options
Pawn shops are known for providing short-term loans against valuables, but they usually offer customers a fraction of the value of their items. Gold dealers, on the other hand, pay more for gold than pawn shops do because they’re able to resell it at full value or higher. Additionally, gold dealers often have relationships with other companies that can help you liquidate your metals quickly if needed–a benefit not typically available at pawn shops.
Pawnshops are less flexible than gold dealers
Pawnshops are more flexible than gold dealers. They will take your gold, but they have a fixed price for it. While this can be good if you’re trying to sell jewelry quickly or don’t want to wait for a response from an online seller, it doesn’t leave much room for negotiation.
Gold dealers will give you the best price possible for your precious metal, which means they might pay less than what the pawnshop would offer–but only if they think that’s fair value for what you have (and this is where experience comes in). They also have access to refineries that might be able to get even better prices than their retail partners could offer; one example is American Precious Metals Refining Company (APMRC), which provides precious metal refining services as well as buying and selling gold bars/coins directly from customers via mail order delivery without having them sent through any third party intermediaries like eBay sellers who may pocket some extra cash along the way! This allows APMRC’s customers complete control over both quality standards as well as pricing outcomes when dealing directly with them rather than trusting strangers over social media sites like Facebook Marketplace where tons of scams happen daily due partly because there aren’t any safeguards built into these platforms yet – unlike Amazon Prime where users must first confirm identity before placing orders so fraudsters can’t steal identities through fake profiles created just for scamming purposes only.”
When you sell your gold, the most important factors are quality and price.
When you sell your gold, the most important factors are quality and price. Quality refers to how pure a metal is. The higher the purity level, the more expensive it will be. For example: if you have 1 ounce of gold that’s been smelted from 20 ounces of ore (80%), then you’re selling an 80% pure product! In contrast, if you were able to extract 22 ounces out of those same 20 ounces (87%), then your product would be considered 87% pure gold instead of 80%.
Quality is more important than price when determining whether or not someone will buy an item from you; however, there are times when price may take precedence over quality–especially if they don’t know what kind of value they’re getting themselves into! For example: imagine buying 10 ounces worth ($5k) from some guy who tells him all about how much he loved working at this mine in South Africa back when apartheid was still legal–but even though he knows nothing about mining himself? You probably wouldn’t trust him either…
Traditional gold dealers work on commission.
Traditional gold dealers work on commission. Commission is a percentage of the selling price that’s paid by the seller, and it’s usually based on current spot prices. The higher your spot price, the more money you’ll get for your gold when you sell it at a traditional dealer.
The downside is that commissions can be quite high–up to 10%. If you’re thinking about selling your jewelry or other precious metals, make sure to ask what kind of commission they charge before making any decisions!
Pawnshops charge a loan rate, but they don’t mark up the price of the gold.
You will receive less for your gold if you sell it to a pawnshop than if you sell it to a dealer. However, this may still be preferable if you are concerned about losing the value of your jewelry or other precious metals in the event of an emergency sale.
Pawnshops charge a loan rate, but they don’t mark up the price of the gold itself–so even though they pay less than dealers do per ounce, they’ll offer more overall if you have multiple items to sell (as long as those items aren’t worth too much).
Pawn shops allow you to shop around for the best price on gold.
Pawn shops are flexible in their pricing and can offer you a higher price for your gold.
Unlike gold dealers, pawnshops allow you to shop around for the best price on your precious metals. They will also give you more options for selling your precious metals than other types of stores because they have multiple locations throughout the country (and sometimes even internationally). This means that if one location doesn’t accept something that another does, then there’s still another place nearby where it might be accepted!
If time is an issue for someone who wants to sell their precious metals quickly, then this can be an excellent option since there will often be no waiting period at all before getting paid out by the store itself
You can pawn or sell your jewelry to a pawnshop or gold dealer without risking its value.
While pawnshops may offer lower prices for your gold, they may not be the best option. Gold dealers will give you a higher price and better quality.
Pawn shops have less flexibility than gold dealers in terms of what they can offer and how much they’ll pay for your items, so if you have a unique piece that doesn’t fit into one of their categories, it’s likely that they won’t take it at all.
Gold dealers also offer more options when selling jewelry or other precious metals–you can sell back any item at any time (as long as it hasn’t been melted down), even if it wasn’t purchased from them originally!
Conclusion
If you’re looking to sell or pawn your gold, there are many factors to consider. One of the most important is price–and when comparing these two options, pawnshops appear to offer better value than traditional gold dealers. However, if you want more flexibility in terms of quality (such as purity), quality assurance and other services offered by traditional dealers may be worth considering as well