Pawnshops vs. Jewellery Stores: Which Can Give You A Better Deal For Your Gold?

When you have plans to sell gold items, there are two proven and tested places you can visit. You can go to a pawnshop or a jewellery store. Both of these places can provide you with a good price for your gold. It will just vary on the item you're selling and the amount that they're willing to pay for it. Establishments will always have a slight difference on the price they offer as there are certain standards that they follow.

If you're confused on which of the two can provide you with a great deal, don't fret! This article can serve as your guide. We will discuss several reasons to help you decide which of the two can give you a good deal.

Pawnshops

At a pawnshop, the amount you'll get will depend on the pawnbroker. Some pawnbroker will still evaluate how much they're willing to spend for it. There are those who can offer as low as 40% to as high as 80% of its actual value.

There are also pawnshops who are actual gold buyers. These pawnshops can provide you with a much higher price depending on the amount of gold in your item. Just look for a reputable pawn shops in Melbourne or in your local area. The advantage of selling it at pawn shops is that you can sell any gold item you like. It doesn’t matter if it’s gold bullion, gold jewellery or gold coin. As long as they accept it, you can sell it for a good price.

Jewellery Stores

Jewellery stores can be suitable if you are selling gold jewellery. Depending on the quality of the jewellery, you will be paid with a good amount. They will even pay for the gemstones set in the jewellery. You just have to take note that you might not get a good amount for the gemstones because jewellers can only sell it to clients who are looking for the exact same type of stone. Since the gemstone is already cut, they have limited choices on what to do with it.

There are also those who will purchase old jewellery for its scrap gold. They will only pay you for the amount of gold in your jeweller and later on send it for melting.

We hope that this article has helped you decide whether you should opt for pawnshops or jeweller stores. Your choice would really depend on the amount you’re expecting. Bring your gold items to pawnshops or jewellery stores and compare how much they’re willing to pay.