Selling gold is a great and easy way to make some quick cash if a tough financial situation is being faced. However, some may have misconceptions about the legitimacy of selling gold to pawn shop Gold Buyers in Chicago. Here are a few tips on how to do it as smoothly as possible.
- First off, research is a friend to any seller, of anything, and this holds especially true for someone selling off their gold jewelry or other gold items. It makes sense to find out what karat, or purity, the gold is before attempting to sell it. 24 karat gold is 100% pure gold, 18 karat gold is 75% pure, 12 karat gold is 58.33% pure, and 10 karat is 41.67% pure. The jewelry should have the karat of the gold stamped on it somewhere, so look for it before entering the pawn shop.
- Bring the jewelry in to a jeweler to have it weighed, or this can be done at if a scale that weighs in grams. The weight is multiplied by the percent of gold in the jewelry to find the worth on the open market.
- By calling locally, the current local price of the gold being sold can be ascertained so that a comparison can be had when entering the pawn shop.
- Gold Buyers in Chicago will pay a percentage of the current value of the gold, as long as it is agreeable with the seller. Full market value will never be paid as the pawn shop has to be able to make their profit also.
- An often overlooked rule is to only visit pawn shops that are located in neighborhoods that are comfortable to the seller. Unfortunately, the areas surrounding pawn shops often have high-crime rates if they are located in shady neighborhoods.
Well-established and reputable pawn shops such as Clark Pawners & Jewelers are probably the best best when looking to sell gold. They are honest and experienced in the pawn business. Leaving the shop with a fair market value of the gold being sold is what should happen, and what does happen, when dealing with professionals such as them.
