Buying & Selling Gold at Pawn Shops – The Basics

Several pawn shops today deal with gold. Most people also understand the advantages of buying and selling of gold items. In fact, so many people today deal with pawn shops when they look to sell gold in Kansas City pawn shops to upgrade their other jewelry. If you need to know the fundamentals behind the process, read on to find out.

How Much They Pay For Gold:

Most pawn shops typically pay between 50 to 70% of the current spot price of gold or probably much close to the specified price, if you want to sell your old jewelry. For business purposes, they would not prefer to pay 100% of the price. This is due to the costs associated with refining your old jewelry alongside other fees and taxes they have to pay. It is safe to say pawn shops are an ideal place to sell your old piece of jewelry for a good price.

How Pawn Shops Sell Gold:

If the gold jewelry items were nicely maintained when they received them, they typically don’t need to be refined down into scrap metal.  They pawn show will clean and inspect the gold jewelery item and directly proceed with the sale instead. When it comes to the selling of jewelry, pawn shops usually make a small percentage over the market price of gold for the transaction. For those looking to buy gold in Kansas City, pawn shops are an excellent choice as the prices are very reasonable. You may be able to negotiate a better price as well.

Be cautious about finding the right pawn shop if you need cash for gold in Kansas City. Only authorized pawn shops can offer you great value for the jewelry you want to pawn. Buying used jewelry from them won’t put a hole in your wallet.