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. Our establishment allows us to purchase items at a lower rate which allows us to resale at a much lesser price to the public.
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.
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.
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.
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.
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.
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.
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.