How to Pawn Your Gold

Turn on your TV, radio or computer and everybody wants you to pawn your gold with them. That should not be surprising considering gold (at the time of this writing) is $730oz. According to my research, gold was averaging around $1033oz March 2008. Due to economical pressures, many are finding themselves selling their gold to make ends meet. This article will provide you with tips and resources for consideration if planning to pawn your gold.

Instructions

1

Choose pieces you do not mind parting with first. Look through your jewelry box and find those broken or single gold earrings. These should be your first option unless they hold some special meaning to you (like a gift from a departed loved one). These items, if they are pure 34 karat gold, tend to draw a good price when sold as scrap. Look for old cuff links, tie clips, watches, chains (that was so popular in the 70's!), necklaces, etc.

2

Assess other items and get them appraised before going to the pawn shop. Exercise due diligence and get more than one appraisal before making a deal.

3

Avoid house parties where the hostess invites you over to meet a jeweler to sell your gold. You reduce your options by dealing with only one person.

4

Deal with independent jewelers or pawn shops. Big chains may not have as much wiggle room for cutting a deal as an independent pawn shop owner so keep this in mind when you go to pawn your gold.