To put more money in your bank account, sell gold items to a pawn shop. Many pawn brokers will pay handsomely for jewelry, watches, and other long-forgotten gold items collecting dust inside your house. To help with negotiations and ensure you get a fair price, below are a few things to find out before you sell gold.

3 Tips to Get the Best Price When Pawning Gold  

1. Know Current Market Value

Similar to other commodities, gold drops and spikes in market value. Pawn brokers consider these trends when negotiating prices, so it’s best to wait until gold reaches a high before parting with your belongings. The precious metal is currently a sought-after investment, seeing a high it hasn’t experienced since 2013. This means right now is the perfect time to sell gold.

2. Find Out the Karat

The purity of gold varies, which is why you need to provide the pawn broker with the karat. This is the measurement of the purity of gold alloy, with pure gold represented as 24 karats. There should be a hallmark stamped into the piece indicating the karat. If not, it to a jeweler for assistance. They can test your piece to determine the extent it is mixed with other metals. 

3. Research the Buyer 

Pawn shops are regulated by states, so make sure you deal with a buyer who is licensed to operate their business in your area. This means they adhere to guidelines and best practices regarding the buying and selling of gold. You should stay away from shops who can’t provide proof of their credentials. 

If you want to sell gold, the American Trading Company accepts a diverse assortment of items. Based in Cincinnati, OH, the family-owned pawn shop has been serving local customers since 1982. As a member of the American Numismatic Association and Gemological Institute of America, you can trust the licensed dealers to access your items carefully and offer great prices. To learn more about how to sell and buy gold, call the Harrison Avenue location at (513) 661-3633 and the West Galbraith Road branch at (513) 385-6789. You can also find a list of items they buy online and become a Facebook follower for more selling tips.