Selling gold is supposed to be easy. Well, at least it should be according to the guys who are standing by the corner wanting to buy your gold advertising the gold price. For the most part, selling gold jewelry has been easy. Everyone knew that you could go into a pawn shop and sell your gold there. But things have become a little complicated these days as everyone seems to be in the business of buying gold. Things were easier in the olden days, you could walk into a pawn shop and pawn your gold jewelry and walk out, now it seems there are more choices. Between a pawnshop, a gold buyer and a jeweler who pays the most cash? Should you trust with your valuables?
Regardless of where in the world you may be, even if you found yourself on the other side of the world, everyone uses the same market price for gold. This is called the spot price and it changes continuously. Buyers will determine the weight and karat of your gold and then pay you a percentage based on the current spot price. The difference between various pawnbrokers, gold buyers, and jewelers is the percentage a particular vendor chooses to pay you. Before you choose where to take your gold for cash, you also need to question yourself if you really want to be parted from your gold permanently or need to use it to get over a financial hump.
The bottom line is: Pawn shops are in the business of pawning, Jewelers are in the business of selling jewellery, Gold buyers are simply interested in the metal for melting and nothing else. Pawn shops Melbourne allow you to use your gold as collateral to get gold loans Melbourne. The Pawnbroker gives you a price he is willing to pay you including the interest and fees of the loan you have to pay back in order to get your jewelry back. The Pawnbroker holds your gold until you pay back the loan in full. This is a good route if you need cash quickly but you aren’t ready to part with your gold permanently. If you have made the choice and have gold jewellery you wish to keep you may be better off with a Gold dealer than a pawnbroker. A gold dealer is similar that of a pawnbroker but more specialist in gold only, they can offer you a higher gold price than a pawnbroker.
Unfortunately, some pawn shops Melbourne aren’t often viewed as the most honest or trustworthy people. Put assumptions aside and do your own research into your local pawnbrokers. When dealing with precious metals like gold you should look at brokers that focus on gold or high-end merchandise. Pawnbrokers that buy everything from toolboxes to the kitchen sink won’t exactly have staff adequately trained in precious metals which means your gold might not get a proper valuation. This might be another reason why you would visit a gold dealer over a pawnbroker.
Jewelers are in the resale business. They are not in the business of loaning money to cash-strapped customers with a bit of gold to use as collateral. They are interested in getting your gold at the lowest price as possible and to mark it up for the next customer to buy. They also tend to be selective about what they buy. You can pawn and even sell anything that is made of gold but jewelers are mostly interested in gold jewelry that is in good condition, happens to be trendy and stylish.
At the end of it all when you are looking for a quick cash loan, then a pawnshop is your best bet. The process is quick and easy. Choose a pawnbroker with a good reputation and the best rates. There are plenty of vendors that offer gold loans Melbourne but what makes the biggest difference are the values like integrity and honesty and are offering the highest gold price.
