4 Reasons People Continue Buying Gold at Pawn Shops

July 21, 2022

By admin

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When you want gold or gold jewelry, you might expect that all outlets offer similar prices. After all, gold sellers are advertising everywhere, but you might be surprised to learn that the best place to buy gold is your local pawn shop. According to Statista, over 9% of U.S. citizens pawn their antiques and/or collectibles when they’re in need of cash, meaning you’re likely to find yourself a good deal when buying gold in a pawnshop. That said, let’s look at several reasons why people continue buying gold in pawn shops.

Affordability

You get good deals by buying gold jewelry from a pawn shop instead of a high-end jewelry store. Since pawn shops deal in second-hand items, although some of them are new, they’re sold at a discount because the people pawning these items can’t return them where they bought them. The only pieces that don’t attract discounts in pawn shops are the rare ones because their demand will be over the roof once people know they’re on sale.

Authenticity

When you search for gold online, you have no way of verifying the authenticity of pieces. On the other hand, pawn shops have people who authenticate all their pieces before they are added to the inventory. This means you can have confidence that the gold pieces you’re buying, or any other piece for that matter, have been authenticated karat to karat.

Restored Pieces

Just because pawn shops mainly deal in second-hand pieces doesn’t mean that the pieces are bad. On the contrary, all pieces sold in pawn shops, whether diamond, silver, or gold, undergo extensive restoration before being listed for sale. From cleaning and polishing to tightening, you can be certain that the piece you buy from a pawn shop is in the best possible condition.

Wide Variety

Many people love the experience of buying gold in pawnshops because they can find pieces they can’t find anywhere else. From antique pieces to modern ones, the wide variety of gold pieces available in pawnshops is unlike anything else. For instance, you can find authentic pieces from brands such as Cartier, Chanel, Tiffany and Co., and more.

Next time you think of buying gold jewelry, don’t visit high-end jewelry stores. Instead, contact your local pawn shop and you might find yourself a deal.

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