Pawning gold is a great way to raise fast cash — but the gold market rewards people who know what they're doing. Here are five things to check before you hand over a single gram.
1. Know the Current Gold Price
Gold is a publicly traded asset with a market value that changes constantly, just like a stock. You can track it in seconds, and it's the starting point for valuing your jewelry or bullion. Our live gold & silver prices page shows it in real time.
2. Don't Combine Karats
Keep your pieces separated by karat. Some buyers weigh everything together and pay you for the whole lot at the lowest karat's value — a bad deal if you've mixed 22K and 12K. Know how much of each karat you have.
3. Watch the Scale
Gold is weighed in grams or pennyweights (1 dwt ≈ 1.555 g), and in troy ounces (31.1 g), not standard ounces (28 g). A dishonest buyer might weigh in pennyweights but quote you as if they were grams. Weigh your gold at home first, and make sure the buyer's scale is visible — if his weight doesn't match yours, something's wrong.
4. Verify the Buyer's Credentials
A reputable buyer is licensed to buy and sell gold and will show you the license. They'll also ask for government-issued ID to avoid handling stolen goods. At DD Pawn Loans, we test every piece in front of you — see how we test gold.
5. Use Your Leverage
If you're pawning gold, you have something people want — so use it. Get a few appraisals and let them compete. Just be patient, and don't take the first low offer.
Ready to sell? See our sell gold in Pompano Beach page or call (561) 774-9292.