Do Pawnshops in NY Buy Gold?

It’s very common for pawnshops in NY to buy gold items such as necklaces, bracelets, earrings and other jewelry. Deepening on the quality, age, and style of your gold you can get very competitive prices. When entering a pawnshop, it’s best to be prepared. You should do your research before getting the best price and negotiating is expected, so always be direct and know the value of your items,

What’s the difference between Pawnshops and Gold Buyers

Pawnshops in general, and specifically for metals like gold offer about 50% of the value of the gold elsewhere. This is a known fact because buying and holding gold comes with risks and costs, and the pawnshop’s ultimate goal is to resell the gold again for a profit. But also with pawnshops, you have more options. 

You can pawn your gold, and they will hold it for collateral. This acts essentially as a cash loan, and when you repay the loan you get the gold back. You can also sell it outright and this is the similarity to gold buyers. However gold buyers have very options and flexibility. Another difference is that depending on the time of the year and the pawnshop’s inventory and demand for gold you might get a higher or lower price. 

Do Pawnshops Buy all gold?

Yes! This is another huge benefit of pawnshops. The price will vary but most local pawnshops are willing to buy gold in any condition and of any type. This means any type of jewelry, gold coins, damaged or broken gold pieces. 

How Much Is Gold Worth Per Gram in NY?

The current market price for gold in May of 2022 is $44.00/gram for 18k gold,  $54.00/gram for 22k gold and $59.12/gram for 24k gold. 

How Much do Pawnshops Pay Per Gram?

Pawnshops pay on average about 50% of the going market rate for gold. SO this would be about $22/gram for 18k, $27/gram for 22k and $29.50/gram for 24k gold. Now depending on the brand of your gold jewelry and condition the price can vary and of course, depending on local factors in the market

The key is to build a good relationship because pawnshops are more willing to do business with people they like and trust. And if the time is not right or you are not getting the office you deserve then hold out for a better option.

Buyers Of NYC Pawn-Sell Shop 4 Gold, Diamonds & Watches (347) 790-8383      

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