The cost of one gram of gold in a pawnshop

Post updated: Oct 9, 2020

Regardless of the country's economy, pawn shops will thrive. After all, there you can get an impressive amount for your jewelry with a minimum of documents. True, if you don’t need money very much, it is better to sell your precious metals in a bank or specialized stores. If there is a need to get money right away, a pawnshop will help with this. How much a gram of gold costs in a pawnshop depends entirely on the institution you contact.

What types of 585 gold jewelry are there?

Our online store offers a wide selection of jewelry for every taste:

• Chains;
• Earrings;
• Pendants and pendants;
• Necklace;
• Rings;
• Piercings;
• Orthodox crosses and icons;
• Bracelets;
• Pins;
• Brooches;
• Cufflinks and tie clips.

Engagement and wedding rings are always popular before wedding celebrations, and strict signets with onyx or diamond are chosen by respectable men who want to emphasize their status in the team.

Inlays are not limited in any way - semi-precious and precious stones are popular:

• Diamond;
• cubic zirconia;
• Sapphire;
• Emerald;
• Ruby;
• Pomegranate;
• Amethyst;
• Chrysolite;
• Topaz;
• Citrine;
• Swarovski Zirconia crystals.

Each piece of jewelry is purchased separately, but some series have sets that emphasize a single image in a harmonious combination of color and shimmer.

How to find out the price of gold in a pawnshop?

The disadvantage of pawn shops is the varying prices of gold. In Moscow and the region, the price per gram of gold in a pawnshop can vary up to half the cost. Therefore, the main thing is to find a good pawnshop with high prices per gram of gold.

How much a gram of gold costs in a pawnshop can only be found out after an assessment of the product by a specialist. What affects the price of gold?

The most important factor in the price of one gram of gold in a pawnshop is its price on the world market, taking into account the correction factor.

Based on the condition of the item, its weight, alloy grade, and the presence of precious stones, the appraiser makes a conclusion about the value of this jewelry. The amount issued by the pawnshop will be much less than the market value of the product. The pawnshop pays a little more than half the real price of the jewelry. Some pawnshops keep records of customers. If a person pays interest and redeems the pledged items on time, the pawnshop can accommodate and increase the loan amount.

The pawn shop carefully inspects the item. Its value and customer loyalty influence the loan amount.

If the gold is not redeemed, the pawnshop will put it up for sale. The price of gold per gram in any pawnshop is determined depending on the design of the product. Particularly valuable specimens will go to auction, and the scrap can be sold to companies involved in the production of jewelry. The value of jewelry increases only from the high price of the metal. Jewelry can be expensive, having a rich history and unusual design.

How to choose 585 gold jewelry?

There is a lot of advice from stylists, but each of them is advisory in nature:

• People with dark skin tones are advised to choose yellow and white gold, while red gold is recommended for those who are not embarrassed by their natural pallor.
• Classic earrings with an English lock are a universal solution for any look. The turban, congo and long threaded earrings are selected according to the shape of the face.
• When choosing a ring, first of all look at the size - it should not sit flush, but it should not dangle with the risk of slipping.
• Make sure you have cleaning supplies - wipes and liquids. Gold needs periodic cleaning to maintain its shine for many years.

Places for buying scrap gold - price per gram

Entrepreneurs who specialize in purchasing products made from precious alloys are guided by fluctuations in the exchange rate of gold on the market. In order not to make a mistake with the sale of jewelry and sell scrap at a favorable price, it is better to contact specialized collection points.

Before selling jewelry, it is recommended to collect a larger number of items. Antique jewelry that has lost its appeal has a low value, but its value among collectors increases. You can sell antique items profitably through auctions and consignment shops.

Banks accept gold in bars and coins with a certificate. The exchange of scrap precious alloy is carried out in pawnshops and jewelry stores. If scrap is available, melting it down into jewelry is considered a profitable option.

The price of 1 g of precious metal depends on the conditions of sale, point of acceptance, degree of wear of the product and the availability of documentation confirming the authenticity of the material.

Pawnshop

In many buying points, the price for 1 gram of gold in a pawnshop is determined after a specialist evaluates the alloy from which the jewelry is made. In this case, the delivery and evaluation of the material occurs at the cost of products of the common 585 standard.

Regardless of the pricing policy, reception at the pawnshop is carried out according to a single scheme. In accordance with current legislation, persons who have reached the age of majority can hand over gold for scrap. A passport is required when visiting a financial institution.

Depending on the category of the pawnshop, the assessment takes into account the artistic value of the jewelry, examines the manufacturer's marks, and identifies the sample. The client has the right to be present during the product assessment and weighing procedure.

The transaction is documented. The agreement specifies the terms of the loan and provides for the conditions and possibility of purchasing the product. Payment of the corresponding monetary reward is made directly at the institution.

Exchange fund

Jewelry made from a noble alloy of a commercial (non-commercial) type, if sampled, can be exchanged for a finished product in a jewelry store with an additional payment. The delivery of jewelry is carried out in the presence of the buyer. The jeweler determines the sample, removes the inserts, weighs the material and announces the cost.

Native gold, orders and medals, technical products, semi-finished products of the dental prosthetic industry and the jewelry industry are not subject to exchange.

Jewelry repair shop

Submission of secondary raw materials to the workshop for re-melting is carried out in the presence of an assay mark. This is a profitable option for those who want to make jewelry according to their own sketch.

What does the Line of Love online store offer?

In the online catalog you can find and buy 585 gold jewelry, as well as evaluate the unique service available to each client:

• We guarantee high quality products and exclusivity of the presented models.
• When picking up items at own expense, they are delivered to one of the 140 Line of Love branded salons across Russia – where you can try on the jewelry and check it carefully.
• If you need to hand over old gold accessories, we offer a buy-and-exchange service. The favorable rate is calculated instantly on the online calculator page.
• The site has its own designer, Diamond Expert, with which you can create rings and earrings of your own design with the ability to choose inlay.
• For purchases worth 5,000 rubles or more, free delivery.

How much does 585 gold scrap cost in a pawnshop?

Decayed jewelry, souvenirs, parts, and damaged coins are intended for recycling and reuse. The cost of scrap gold is influenced by the sample of the precious alloy, which is confirmed by the stamp on them and additional expert assessment.

The price per gram in a pawnshop is determined based on the total weight of the jewelry. The more material is offered for sale to a financial institution, the higher the cost per unit weight.

In a pawnshop, the price for 1 gram of gold is set based on quotes. The book value established by the Central Bank of the Russian Federation depends on fixing on the London Metal Exchange.

The dynamics of changes in the precious metal exchange rate on the world market are influenced by:

• supply and demand;
• the volume of supplies of this material to the international market;
• political crises;
• natural disasters.

There is a close relationship between the dollar exchange rate and the cost of an ounce of pure gold. Scrap alloy contains alloy components, so the price of 1 g of 585 gold is calculated based on the content of pure metal in the product.

In institutions engaged in purchasing and providing loans secured by jewelry, the price differs from the book value of the precious metal.

How to calculate the current value of a gold alloy?

Theoretically, you can find out how much a gram of a precious alloy of gold costs in a pawnshop by simply multiplying the current exchange rate by 0.585. However, gold rates indicated in stock market reports are just virtual numbers for virtual units of gold.

For example, if the price of gold on the stock exchange is 2,600 rubles per gram, then theoretically, the price of 585 gold will be 1,521 rubles. At the same time, a gram of gold of the same standard will be bought in a pawnshop for only 1,400 rubles. If you try and search, you can find establishments offering a higher price for the precious metal. However, in practice, everything turns out much sadder: two or three pawnshops in the city buy scrap for pennies.

Sample loan agreement at a pawnshop.

Before leaving your treasure in a pawnshop, you should enter into a loan agreement that will clearly state how much a gram of gold alloy costs at the time you decide to take it to the pawnshop (find out in more detail how to do this correctly). The contract will also contain information about the pawnshop and its client.

Here is an approximate list of information contained in the contract:

• Pawnshop branch address;
• Client's passport data;
• Name of the product, description of its characteristic features;
• The amount of valuation of the pledged item;
• The amount of the loan provided;
• Loan term;
• Interest rate;
• Possibility of early loan repayment;
• Does the borrower have the right to the difference that arises in the event of the sale of goods;

If the client fails to pay the deposit amount on time, the pawnshop does not have the right to sell the products within one month.

During this month, the pawnshop has no right to increase interest rates or charge additional fees for storing gold.

If the jewelry remains with the pawnshop, he has the right to sell it. If the cost of one gram of gold alloy in a pawnshop is determined incorrectly, pawnshop employees do not have the right to charge an additional payment. The client is not responsible for the pawnshop carrying out such an operation as buying gold and certainly has nothing to do with such an indicator as the price per gram. However, if the amount of proceeds for the jewelry exceeds the client’s debt obligations, the pawnshop is obliged to return the difference in price to him.

What should you not take to a pawn shop?

In a difficult life situation, going to a pawnshop can be a great help, however, not always and not for everyone.

The cost of a gram of products made from gold and sold in a pawnshop will be very low if:

• Precious metal is found in semi-finished alloys, nuggets and production waste;
• It contains semi-finished diamonds;
• Semi-finished products related to the dental prosthetics industry;
• Products intended for industrial use;
• All sorts of awards, orders and medals;
• If the product contains natural precious stones that have not yet been processed by a specialist.