Known how to price your gold & silver in Boise and Nampa ID
Are you a pawn shop or gold store client in Boise or Nampa? If so, then it’s important that you know how to price gold. Gold is a valuable commodity and the prices are constantly fluctuating – especially with all of the uncertainty in the market. To make matters more complicated, there are several different types of gold that have their own pricing structures. In this blog post we’ll discuss how to price gold based on SPOT vs. Premiums and why they matter when it comes time for your customers to sell back their items at Professional Pawn Stores in Boise or Nampa Idaho.
With gold and silver prices changing daily and the movement up and down, it is important to keep up on the why, and how to price gold from proper gold value. The gold price today per ounce, otherwise known as SPOT is hovering around $1,758 USD per troy ounce.
We also are going to talk about SPOT vs. Premium. We get asked a lot, “Why are you not selling it at SPOT?” The short answer is Premiums. The availability from supply and demand influences the Premiums bullion. While we try to keep silver and gold in stock at all times in Boise and Nampa, it is hard too with the heavy demand.
Are you ready to know how much your gold or silver is worth? To start, look up spot prices online or use check them out below with our live-streaming tool.
We are always happy to value them in the store, over the phone, or via text message. You can come in today and get cash for your items, with our professional team of experts. We’re here, so give us a call at 208-487-8003 if you have any questions. If you don’t live in either Boise or Nampa, we can take shipments, or in some situations come to you.
Let’s take American Eagles for example. These carry a much higher premium then generic rounds. You may ask why? The first, and most obvious reason is that they are stamped with the year of mintage and minted by the United States. Currently, we sell out normally within 48hours of receiving more. American Eagles are trusted by the people and though to trade much easier amount all bullion.
There is a difference between coins and rounds. The main difference between rounds and coins comes down to how each one was made. Rounds were casted like bullion bars which creates a thick layer of nubs around them that give it depth (referred to as “bullish” or more value). Coins on the other hand were minted from scratch creating less nubs which gives dates fullness but leaves them flat at times (known as “bearish”). The bottom line: Rounds will always be worth slightly more than their face value due to this process alone regardless if you buy American Eagles vs generic silver.
Can you get silver for spot price or more for your silver? Yes, you can get close to spot price for silver and gold bullion. If not, we will make a better offer at our discretion once we have all of your information.
The nugget factor is another important element when determining premiums while buying precious metals in Boise or Nampa Idaho. The nugget effect comes from how some people prefer bullion that looks more like nuggets then coins or bars due to its uniqueness and character they add on top of value which creates “NUGGET” premium prices.
Price per ounce means nothing without knowing what type of material you are pricing! When you go into a store do they know the difference between rounds vs coins? Do they even care? In general, we look up live market pricing and will pay between $1 under spot to $3 over spot on silver coins. Currently, we are paying spot or more for your round or coins.
Why is Idaho Pawn & Gold rated number 1 in Idaho, Boise and Nampa? In addition to our Nampa location, we have a pawn shop in Boise which gives us the ability to provide quick cash loans, pay top dollar, on items you need money for. We are here because of YOU! Our valued customers make it possible for us to be number one.
How do I know how much my gold is worth? You can come into either store or call 208-487-8003 throughout Idaho’s Treasure Valley at any time with your questions. If you live outside of this area feel free to contact us as well via email (email@example.com). With over six years of experience selling bullion, coins, diamonds & more; our Professional Pawn Store has helped thousands sell their things, silver, gold, coins, bullion with over 10 million in transactions.