Selling gold is something that we will do fairly regularly. However, what a lot of people don’t necessarily do is think about the correct procedure for selling gold and jewels at the same time.
You might think that selling gold and jewels is something that you can do to increase the value of your overall assets. However, this is simply not the case. Instead, we thought we would take a look at proper protocol when it comes to selling correctly.
Selling Jewels and Gold Together
Ultimately, selling both jewels and gold together is not something that you can easily do. The important thing that you have to remember is that while you may think that the value of your jewels will increase the value of your gold, this is not the case.
Ultimately, no matter how valuable your jewels are, they are not what interest gold buyers.
Don’t take it personally – we’re just not especially fascinated by diamonds and rubies and whatnot. Instead, we prefer to deal more in the real weight and value of proper gold.
What you are very likely to find is that when it comes to gold and jewels, the gold is taken on board, and the jewels are simply removed and thrown away. Most people just aren’t interested in them.
How to Get the Most From Your Bling
When it comes to getting the most from your bling, you therefore have to play it a little bit smart.
Ultimately, what we would recommend you do is take a look at some of the different options when it comes to removing the jewels and selling them independently of anything else.
To the right people, a large ruby or a diamond is worth quite a lot of money. However to most gold buyers, it’s just an annoying asset which is removed from the gold and thrown away without a second thought. It’s incredibly wasteful, but the real money for gold buyers is in the gold itself.
Therefore, you should definitely remove the jewel from the goal before you sell the gold. You can do this quite painlessly via the help of a professional, and it means that you’ll get more money than normal. At the end of the day, selling gold and jewels together to a gold buyer is not a wise move, because we just can’t justify spending large quantities on the jewel itself.
In conclusion, selling gold is something that you do need to think about, and if you are going to do so, you have to make sure that you have correctly prepared for this type of situation. If you have jewels available in your gold, it is better to remove them and sell them independently of the gold itself. This means that not only will you make a large amount of money from the goal, but then you can also make more money by selling the jewels. It’s a very safe practice to get into, and one that we recommend. Don’t disregard the value of the jewellery that is part and part of your gold.
Figuring out where you sell gold is very important. There are many different options to take, multiple different choices that you can go for, and a lot of different options available. You have to really stop and think about where you’re going to sell gold, because this makes all the difference. Gold is one of those things that you really have to think about, because it does offer quite a few different options.
With that being said, we thought we would take a look at where you can sell gold, and what will give you the best possible return on it.
So, Where is the Best Place to Sell Gold?
The important thing to know when it comes to selling gold is that you have to try and find the optimum location to get the highest amount of money.
Ultimately, there is a spectrum of quality when it comes to gold buyers. Some are professionals, to take the time to value your goal, give you a proper quote for it, and then help you with the process, and there are some who are only interested in quick and easy deals. What you choose to go for is largely up to you, but if you opt for the latter, you may find that you lose out.
Online or In-Person
Generally speaking, there is no right or wrong choice when it comes to selling gold. You just have to be careful about where you go and where you sell it.
Be wary of any little establishments that want to buy gold, because they may not have the adequate capital required to give you a fair price. At the same time, be careful of companies that promise a “too good to be true” price, because this is also dangerous.
Generally speaking, you will want to look for a company that can provide you with a good level of service, and at the same time, help you to figure out exactly what your goals are. They will provide an honest and unbiased review of your gold, and then give you an adequate quote.
As long as you take the time to look at things like reviews and other criteria, you will easily find a good provider. We have worked for a long time to be a top shelf buyer of gold, and we understand just how important it can be for you to have confidence in the people that you’re working with.
At the end of the day, you have to spend as much time as you need to find your ideal provider. There are a lot of people out there who can help you, and it is important to take a look at what they have to offer. We can help you a lot when it comes to getting the most out of your experiences, but you have to be prepared to trust us. There are many different routes that we can take, and quite a few ways to sell gold, but you have to be prepared to put your trust in us.
Knowing how to sell gold is pretty difficult. There’s quite a few different factors you need to consider when it comes to selling gold, what you have to do to sell gold effectively, things like that. Selling gold is not easy. There are multiple different things that you need to keep an eye on.
One thing that you have to understand when it comes to selling gold is that timing is everything. Let’s take a look at the all-important timing factor when it comes to gold, so you understand what it is that you should be thinking about.
Timing is Everything
When it comes to the timing that goes on with your gold, you have to think about when you’re actually making a sale. Selling gold is very important. It also dictates exactly how successful you are in the entire endeavour, because the timing is pretty much everything.
The timing that you show when it comes to how you look at selling gold will make all the difference. You have to make sure that you are demonstrating the correct knowledge of timing, and understanding that the value of gold will fluctuate from one period of time to the next.
At the end of the day, it’s all about the fluctuating value of gold. Gold is something which can change depending on what you sell it for.
A thing about gold is the value of it changes from one month to the next. There can be so many factors that influence the selling of gold, so it’s important to make sure that you understand the value of gold will change according to the time period.
At the end of the day, when it comes to gold, you have to stop and consider all of the different options and elements that make it up. Gold is something which will change according to when you are selling it.
At the end of the day, it is up to you to take a look at all of the different ways in which gold can be sold and traded with people, but it’s also important to keep an eye on the timing. You need to wait for a moment when the market is at its highest level, because that means you can then sell your gold for the best possible value. This can take time to get right, but it is worth it.
In conclusion, selling gold is definitely something that you should keep an eye on, but you have to understand the timing plays a big role in things. How you sell gold will depend entirely on the type of person that you are, and where you can sell it to. It is so important to take a look at all of the different options you have available when it comes to selling gold, because this will give you the best possible options and chances for success. We buy gold whenever we can, so we know it’s important.
Do you want to learn how to sell gold? Well, a lot of people do in fairness, it is a very valuable resource in most instances.
However, there is a key difference between learning how to sell gold and learning how to sell gold well. One entails a little more concentration and thought than the other which means that you will need to work out a plan.
But, thankfully, we are in the business of helping you work out how to sell gold, so let’s take a look at what is on offer when it comes to auctioning it.
Understanding Market Value
To start selling gold properly, you need to understand that gold has a market value like any other metal. This makes it highly unique and changeable. You’ve got a lot of different options and ways that you can sell gold, but sometimes it is about timing.
When it comes to gold you’ve got multiple options with regards to what you do and when. You need to watch the market and see when the value for it is higher to sell it at a premium. Is it worth more now than it has been in previous months? Perhaps this is the month to sell gold, so you get rid of it for a better price.
Precious Gems or Not?
When it comes to selling gold, you have to look at what comes with it. Is your gold part of a bangle or a watch? Are there other items and parts of the gold you need to take a look at?
You might think that these extra bits, especially priceless gems, would fetch you more when it comes to selling gold. Unfortunately, this is not the case. Most people will find that when it comes to gold, the people purchasing it don’t care for the extra bits – even if there’s a beautiful diamond on it, they’ll remove it and throw it away.
Selling gold is often a case of looking at location. Simply put, you need to know where it is that you can sell your gold for the highest possible price. You’ve got so many options and choices that it makes it harder for anyone to sell gold effectively.
Location is an important part of selling gold. Make sure to take a look at all of the different locations you’ve got available when it comes to selling gold because this really will help later on.
In conclusion, knowing how and where to sell gold is tricky. You need to take a look at all of the different options available when it comes to gold to work out exactly what it is that you need to do. There are numerous different options available and this makes all the difference. It’s often a case of where you sell your gold, what you do with it and how you move forward that will make all the difference. We buy gold professionally, so we know how important it is to do it right.
Do you have a piece of old gold or jewellery sitting in a desk somewhere that you haven’t bothered to throw away yet? It might be something sentimental that you’re not going to wear every day, or it may just be a possession that has come into your possession and you’re trying to work out what to do with it.
Regardless of why you’ve got it, old gold and jewellery can be a potential wealth of profit. Some of the older pieces of gold and jewels can fetch a massive price nowadays, so thinking about selling your old gold is definitely a good idea. But, before you dive into the world of gold selling, let’s take a look at some of the things you should be thinking about.
Pick a Reliable Buyer
If you are going to take a look at selling gold for yourself, you really need to stop and think about how you’re going to sell it.
You absolutely need a reliable provider who is going to give you an accurate and fair price for your gold, and these are quite difficult to find. There are a lot of pop-up businesses that want to make a quick amount of money, so they will underprice your gold and then sell it on for more.
We buy gold, and we are also honest and have experts on hand who can appraise you to make sure that you get an accurate assessment of what it’s worth, so finding a reliable buyer is pretty important.
We Only Want the Gold!
Most businesses who buy gold online or any individual that can buy gold is only interested in the metal itself. So a bit of jewellery that I have jewels and stones and gems set into them may be worth more if you remove the gems and sell them independently.
So, in addition to knowing where to sell gold, you also need to make sure that you have worked out the true value of your item, you might be able to make some extra money on the side by selling the stones to a different place altogether. Quite a few companies just discard the jams and stones, which is understandably not very helpful for making money.
Unfortunately, the value of gold fluctuates according to the specific situation. Gold will be worth more at some points then it will be worth it others, so you need to make sure that you’re selling at the correct time. Check the market value for gold before you start hunting around for a buyer.
In conclusion, selling old gold is definitely a good idea. There are numerous benefits that can come from doing so, but you have to make sure you’re doing it properly. Learning to sell gold at
the right time is vital, and is an exercise that you will get better as time goes on. But, if you do have some gold lying around, it’s not a bad idea to sell it, you can often make yourself quite a bit of money, as gold can be worth quite a lot depending on the circumstances.
Gold is a valuable commodity which has a high price when it is sold in the correct way.
However, knowing how to sell gold for the right price is often a challenge.
You see, there are quite a few different circumstances which contribute to how much you can
sell gold for. It’s important to find the best place to sell gold, knowing when to sell gold, and how
to sell gold, so let’s take a look at what you need to think about.
The Value of Gold
If you’re going to sell gold for the best price, you need to make sure that you have checked the
market value of gold. Ultimately, gold is a commodity, and is only worth as much as the demand
for it is there.
The problem with being a commodity is that the value of gold tends to fluctuate according to the
market, so they’ll be one week where your goal is worth less, and one week where it is worth
more. You need to check to see the market value of gold, and whether it’s predicted to rise or
fall over the coming weeks before you make a sale.
Part of knowing how to get the best value for your gold is the location you sell it.
Sometimes, the best place to sell gold is not the immediate place. You might think that you
could take it to the pawnshop and make quite a bit of money, or you could sell it on eBay, but
this isn’t always the best option. Sometimes, you need to look at gold buyers, because they
offer a better rate and sometimes a faster sale.
Haggle For Price
If you want to get the best value for gold, you have to be prepared to do a little bit of haggling.
Haggling is a common tactic used to try and get the price up just a bet. You’re not aiming to
double your offered price or anything like that, just make it a little bit higher.
Haggling is very much an art form, so you have to make sure you do it right. We buy gold and
we are prepared to have a little bit, so it’s often worth checking out, because you might walk
away with a bit of extra money, and ultimately, it’s worth just seeing what you can get.
In conclusion, knowing how to sell gold is tricky. There’s quite a few different things to think
about, so it’s important to consider all of the options when you’re trying to get the best outcome
for your needs. Obviously, you are going to want to haggle to sell the gold. It’s pretty important
to get gold at the best value, no one is disputing that, so it’s essential that you take a look at
some of the different options you have available to find what works for you. Remember to take
a look at all of the different options for selling go before committing to a decision.
Looking to start up a pawn shop but aren’t sure where to start? Here are a few of the best locations to start up your new business.
An Old Pawn Shop
You might have noticed that most pawn shops have been in business for over 20 years. This is because these businesses tend to be run by families who pass down their shops to their next-of-kin when they retire.
However, you can easily snag an older pawn shop of your very own without those familial connections. You might be able to purchase an older pawn shop when first breaking into the industry, if you’re lucky. The previous store owner might even be generous enough to teach you the ropes to running their old business properly.
Pawn brokers also have plenty of coaching programs and qualified consultants to help your new business thrive in even its earliest days!
High-Traffic Retail Areas
Almost every store owner vies for a good location that guarantees high traffic. More people mean more eyes on your store, and more publicity means picking up more potential business.
Just keep in mind that stores in these areas are highly sought-after by businesses of all kinds, and therefore, their leases are priced much higher than other places. Pawn shops already take quite a bit of capital to start up. A pricey lease might be more of a detriment to your business than a benefit if you fail to turn enough profit.
In fact, most pawn shops tend to settle for a building in an area that does not receive as much traffic but will still remain pretty visible to the public. Be sure you carefully weight the pros and cons of starting up a pawn shop in busy retail areas. Ensuring that you have a good enough financial cushion to withstand a few blows every now and then will also help.
Of course, with more and more consumers switching to online shopping, creating a website for your pawn shop may be your best bet. A good example of a successful online pawn shop is Pawn America.
They are basically a network of pawn shops that have expert teams of appraisers and jewelers on-hand that are ready to help you buy or sell used goods. The site owners take clear and accurate pictures of the merchandise they offer, so you know what you’re getting before you buy. You can also pawn off almost anything you own for a temporary loan you can work out with Pawn America.
Pawn America is just one example of a pawn shop’s site thriving. Of course, you will still need a location to at least properly store and maintain your stock, so creating a website should be treated more as an add-on to your pre-existing physical store than a store of its own. You can even entice customers to visit your site by offering exclusive collectibles or other hard-to-find goods only on your store’s website!
With the rise of hit reality shows that solely center on pawn shops, you can expect that the shops featured in such shows will inevitably become famous. There are also pawn shops that garner the highest-end clientele imaginable, which no doubt have also garnered the attention of the public at large.
Let’s take a look at the top 3 most famous pawn shops in America!
World Famous Gold & Silver Pawn Shop
This pawn shop located in Las Vegas boasts a bold claim to fame within its name alone. If the name of this pawn shop rings a bell, then you’ve probably caught an episode of the hit reality show Pawn Stars on the History Channel. Or maybe you’re a dedicated fan who has watched every single episode and no doubt were expecting this shop to show up on this list.
Either way, the World Famous Gold & Silver Pawn Shop has easily become one of the most famous pawn shops in the world! With up to 17 seasons and counting, shop runners Rick, Richard, and Corey Harrison, Austin Russell, and their crew of experts have fascinated millions with their appraisal of antiques and other merchandise customers have tried to sell or pawn off to them.
Not only can you visit the famous pawn shop for a chance to be on the show, but you can also take a tour of the place. You might even get a chance to meet the stars of the show during one of these tours! They even offer VIP experiences where you can have a private meet-and-greet with one of the stars and view some of the store’s rarest items.
American Jewelry and Loan
American Jewelry and Loan is another pawn shop made famous through the reality TV show Hardcore Pawn. While not as big a show as Pawn Stars, it still garnered millions of viewers per episode and ran for 5 years on TruTV.
This Detroit shop is run by Les Gold, a fitting name for a pawn broker who often works with precious metals. He and his family have been in pawning since 1978, with both Les and son Seth becoming one of the top brokers in the business. They are often invited to various other TV shows to give others financial advice as well as demystifying the pawning business to the general public.
The Dina Collection
Finally, we have The Dina Collection in Beverly Hills, California. From high-end jewelry to designer items, owner Yossi Dina deals with all kinds of clientele—even those you wouldn’t ever expect to visit a pawn shop!
Celebrities, millionaires, and yes, even the occasional billionaires flock to this classy pawn shop to snag a good deal on all kinds of items. Turns out even the wealthiest of the wealthy love a good bargain! Unfortunately, these bigger deals are done in the back of the store, so don’t expect to run into the likes of Tom Cruise or Elon Musk anytime soon.
The pandemic has hit a lot of store owners hard, changing the way they conduct their usual business with their customers. Here’s a few measures your pawn shop can take to ensure you still retain good business during the COVID era.
Offer Hand Sanitizer
Pawn shops often deal with secondhand or previously used items, so it’s wise to offer your customers complimentary drops of hand sanitizer right when they enter and right before they leave the store again. Not only does this minimize possible bacteria from entering your store, but also ensuring your customers remain safe and healthy after perusing through your stock.
Keep Antibacterial Wipes On-Hand
The CDC advises that small businesses should regularly “clean and disinfect all frequently touched surfaces, such as workstations, countertops, handrails, and doorknobs” and to discourage sharing tools and equipment you touch with other employees. This typically means using antibacterial wipes or pure alcohol spray to wipe down your doors, glass cases, and applicable stock that customers have touched throughout the day.
It might be a good idea to keep a notebook nearby to list what items customers touch during their visit so you can wipe them down again after they leave. You should also consider wearing disposable gloves when cleaning so your hands are not constantly smelling of strong cleaners when helping out customers.
Set Up Designated Social Distancing Spots
Unless a small group of customers came together, you should urge your customers to stand the government-sanctioned 6 feet apart. To aid with this, you should redesign your store in a way that allows for enough space for multiple customers to roam around without coming into close contact with one another.
Of course, your shop may not allow for this space. Some other pawn shops have only let in 1 customer into the store at a time, making others line up outside in 6-foot intervals. Of course, if your shop is large enough and has a good ventilation system, then you can allow in a few more customers provided they keep their distance.
Encourage Customers to Pay Digitally
Cash exchanging hands runs the risk of passing on bacteria or other pathogens to and from your customers. You should encourage all your customers to pay with either a credit card, debit card, or set up some other system where you can transfer their money to their bank accounts directly.
If you have a website for your pawn shop, then you should let your customers know about it so they can still shop or ask for pawn loans from your store all from the comfort of their own home!
Check in With Your Employees
Make sure to check in with your employees and their health when they come into work. If they admit to feeling the least bit ill, it is best to send them home for the day until they recover.
You should also encourage them to wash their hands frequently, wear masks, and keep 6 feet apart from customers they help.
You might be surprised to know that the pawning business is one steeped in ancient history that spans thousands of years old. Many countries all across the world implemented different pawning practices that would serve as the foundation for current pawning businesses.
But just where is the world’s oldest pawn shop located?
History of Pawning
Pawning is a business practice that has existed since ancient times. The first pawn shops emerged in ancient China around the 5th century, and were typically run by Buddhist monasteries. This practice later became widespread throughout the country with the help of wealthy lay people partnering up with Buddhist monks.
Pawning was also popular in ancient Greece and Rome, though there were certain restrictions as to what the Romans could pawn or sell to these shops. At the time, pawn shops were mainly used as a means to help smaller business owners start off with good capital.
Pawning has quite the complicated history in Europe, with some countries embracing the practice and others shunning it for various reasons. Throughout much of its history in ancient Europe, pawning rules and regulations vastly differed from country to country—and even shop to shop.
It was not until The Pawnbrokers Act of 1872 where pawning regulations and broker protections became centralized and enforced. Pawning would not be where it is at today without such an important act.
Where is the World’s Oldest Pawn Shop?
When nearly every pawn shop that boasts 80 or more years in business tries to claim this title, it is a bit difficult to know exactly which of these pawn shops is truly the oldest pawn shop in the world. Not to mention the fact that there are countless pawn shops owned by elderly pawn brokers that simply do not have the tools to advertise themselves digitally.
Due to pawn shops’ extensive history, this is a tricky question to answer. Some claim that the oldest pawn shop is the il Banco Rosso (or “the red bank”) in Italy, which is at least over 200 years old. The Banco Rosso has been restored by the city, so you can still visit it today!
However, since it is no longer a running pawn shop, but rather a historic tourist destination, people might not credit the shop as the oldest pawn shop to exist, especially since the first pawn shops did not even originate in the country.
Instead, it might be best to try and find the oldest pawn shop in your country that is currently still in business. The oldest pawn shops around the world typically date back to the late 1800s, with America, Great Britain, and Hong Kong boasting many of them.
Of these, the oldest pawn shop that is still currently in business is T.N. Donnelly & Company in Chicago, recently rebranded as the Chicago Loan Company after being bought by The Loan Companies. The pawn shop first opened in 1881 and still continues to operate to this day.