If you are looking to buy or sell gold coins, gold bars, or gold bullion, you should consider making a stop at your local pawn shop. Though we can’t guarantee all pawn shops will buy or sell these precious metals, Central Mega Pawn near Ontario, Pomona, and Upland is happy to examine your gold for sale and boasts a large inventory of gold items available to buy. Read on to learn more about buying or selling gold coins, bars and bullion at pawn shops.
What is Gold Bullion?
Gold bullion is essentially an umbrella term for all types of very pure gold. The word bullion, therefore, can be used to describe any type of gold bar or gold coin, which has a stamped weight and purity of precious metal. So, although you may think of bullion as plain bricks of gold stored for example, at Fort Knox, it’s the term used to describe any type of gold that is a tradeable form of gold. Incidentally, bars of gold are also called gold ingot, which refers to the mold that is used to shape gold into bars. Gold jewelry, although valuable, isn’t considered bullion, as it’s not stamped with the purity and weight of coins and bars.
Buying Gold Coins, Bars or Bullion a from Pawnshop
With an uncertain economic climate, buying gold can help to diversify your wealth and investments. In fact, experts recommend keeping some gold because it is not linked to stock market performance or other financial instruments. Here are 5 reasons to consider buying gold:
1. Safeguard against inflation
With inflation at 40-year highs, gold can be a great hedge against inflation. Generally speaking, when the cost of goods and living increases, the price of gold also rises.
2. Protection for a weakening U.S. dollar
Inflation means that things cost more because the dollar becomes weakened. In other words, your cash doesn’t go as far as it once did. When the dollar weakens, gold prices tend to soar, which can be an added safeguard for your family.
3. Gold holds its value
Gold holds its value even when currencies are weakened, and the stock markets go down. Gold boasts an impressive history of maintaining its value, thanks to being noncorrosive, and easily moldable into a variety of items such as gold jewelry, and gold coins.
4. Increasing demand
In some nations it is commonplace for people to use gold bars as a way of saving for the future. This keeps the demand for gold high, even in tumultuous economic climates.
5. Protection in periods of uncertainty
Geopolitical uncertainty is another reason that people decide to purchase gold. In fact, gold is often referred to as a “crisis commodity,” for its stability in value, even when it feels like the world has turned upside down.
Types of Gold Bullion You May Find in a Pawn Shop
You may find incredibly valuable gold bullion in a pawn shop. Gold bullion available near Upland, Ontario, and Pomona may include:
- Gold Bars
- Gold Nuggets
- Gold Bars
- Gold Ingot
Selling Gold Coins, Bars or Bullion to a Pawnshop
If you need cash, you can always turn your gold coins, bars, or bullion into money by selling it to a pawn shop. However, it’s smart to sell to a reputable, established pawn shop to get the best deal on your gold.
A reputable pawn shop will follow all federal, state, and local laws and regulations. They will advertise their compliance with membership in an organization such as the California Pawnbrokers Association, or other national or statewide organization.
Quality pawnshops are generally established as well. Of course, everyone needs to start somewhere, so newer shops aren’t necessarily untrustworthy. However, if you take your gold to an established shop, you’re more likely to work with experienced pawn brokers, who closely follow the precious metals markets, and know what your gold items are worth. Established shops also have a loyal customer base, so they know what they can sell quickly, and may therefore be able to offer you a better price.
There are a few ways to get a better price for your gold when you sell it to a pawn shop. First, do a bit of research so that you are aware of the current price of gold. An educated seller will generally leave with more cash in hand. Secondly, clean up your gold. A quick wash, and wipe down can make it shine, and make the weight and fineness stamp show more clearly. Thirdly, don’t be afraid to negotiate with your pawnbroker. Negotiation is a customary practice at pawnshops, so you’re always encouraged to give it a shot.
How Much Does Gold Buy and Sell for at a Pawn Shop?
The amount of your offer for your gold at a pawn shop, or the list price for gold items in stock will depend on a few factors. These include the current price of gold, the demand for gold, and the value of the item you’re looking to buy or sell. Each gold item is generally a percentage of what you’d expect to pay in a traditional store. In many cases you can buy gold at a pawnshop, only to have it appraise for more than you paid. Likewise, you can often sell gold items for more than you’d be offered at a jeweler. Before settling on where you buy or sell your gold, it’s smart to get estimates from multiple buyers or sellers, to ensure you’re getting the best deal.
Central Mega Pawn Buys and Sells Gold Coins, Bars, and Bullion
At Central Mega Pawn in Ontario, near Pomona and Upland, you can buy and sell gold bars, coins, and bullion. Although we can’t speak for all pawn shops, in our store, we always have a wide variety of precious metals. Our inventory changes daily, because we buy precious metals in the form of coins, bars, bullion, and jewelry every day. As a leading pawn shop in the area, our pawnbrokers are experienced, knowledgeable, and fair with pricing. Stop by to meet our team today. We’re conveniently located on S. Central Avenue in Ontario, and we’re open from 8:30 am -6:00 pm seven days a week. Follow us on Facebook to see in-demand added items when we get them.