Do Pawn Shops Buy Gold, Silver, and Scrap Gold

Do Pawn Shops Buy Gold, Silver, and Scrap Gold - Idaho Pawn & Gold

Samuel Reading |

Each precious metal has the content of something worth money.

Not all gold is pure gold. 24K gold is the purest form of gold, and it is 99.9% gold, with the remaining fraction of a percent made up of various alloys. It is soft and delicate, scratching and bending easily.

24k gold is mainly used in making gold bullion coins, gold coins, and gold bar production.

18k gold is 75% gold, with the remaining 25% of various alloys. It is not as soft as 24k gold, so it is used in some jewelry. Because it is less expensive, this makes luxury more affordable for some people.

Silver And Scrap Gold

14k gold is 58.5% pure gold and is way more durable than 18k.

10k gold is 41.7% pure and, compared to 24k gold, is more affordable due to its lack of precious metal content, making it a top choice for jewelry buyers on a budget.

A good rule of thumb to remember is the lower the karat, the stronger it will be, with the higher karat gold being softer.

This means that lower karat gold will tarnish, which is not worth as much monetary.

Higher karat gold appears yellow and bright in color. It doesn't wear as well as the more durable lower purity gold.

This is important when someone comes into your pawnshop with a ring that has the mark 14k FP. The ring will appear yellow and bright and collar and may throw you off. Is this gold? Is this worth buying and melting down?

Silver And Scrap Gold

Gold has different markings to indicate its makeup and eventual value.

Is the mark for gold-filled, HGE denotes Heavy Gold Electroplate, HGEP identifies Heavy Gold Electro Plate, E says Electroplate, and GE signifies Gold Electroplate.

Silver And Scrap Gold

What is 14k FP China?

This is authentic 14k gold. Seriously? It is, but it has a hollow core filled with a silicone substance to help conserve the amount of gold used to craft the item. The jewelry crafted from hollow-core gold is pretty and affordable because it saves gold.

Would you consider buying 14k FP gold to resell or to melt?

Anything can sell to the right buyer in a pawnshop or online. Before making an offer on a piece of jewelry with this marking, make sure you understand that it is hollow, and thus, the value is less when compared to a solid piece of gold jewelry. Whatever price you determine is fair reflects that the gold price is consistent with its weight and purity of 58.5%.

Consider buying scrap gold, old gold, and gold jewelry that may not be resold because the style is outdated. You can melt the gold or send it off for melt value, and remember that melt value is different because it is minus the impurities after it is melted.

Silver And Scrap Gold

Melt Value Calculator

The total gold value of scrap gold items is measured by weighing the actual gold content, not including other metals if the gold is an alloy. This is known as the intrinsic value of gold. There is a melt value calculator available online for easy reference. The melt value calculator can be helpful as you calculate the value you can get out of your scrap gold.

Silver And Scrap Gold

Coin Melt Values

The melt value of a coin is what the metal in the coin is worth if it was turned to liquid, impurities removed, cooled down and weighed, and multiplied by the current coin melt values on the day you decide to sell it.

It is different from collector coin value and doesn't reflect what the coin would be worth if sold for its numismatic value. Even if you have a ruined coin, its metal content is still worth something.

Silver, gold, and coins made of precious metals will have a higher melt value even if they are torn up and destroyed compared to coins made of alloys.

Precious metals are used commonly in jewelry and industrial processes, including luxury vehicles. Gold, silver, platinum, and palladium are four primary metals, and most shops work with customers with one of these four precious metals. Whether the precious metal comes in via a gold coin, silver coins, or a piece of broken scrap gold jewelry, the value of precious metal like gold and silver is real and a common way to make a return on investment.

Silver And Scrap Gold

1940F - That's Hot!

Gold melts at 1940 F. To melt gold, you must subject it to intense heat to change its physical and chemical composition. You have to eliminate impurities to ensure the best outcome.

It is possible to do this yourself in your shop, but it does take the right equipment and the ability to melt it safely. The process takes time to get the gold to the optimal temperature. If you are concerned that the process might pose an injury risk to staff, send it off.

Several online services buy scrap gold for melt but are aware of scammers and online services trying to take advantage of you—research and know the history of the service you want to use. Make sure the prices offered are consistent with other services.

Silver And Scrap Gold

Spot Price

Spot price fluctuates daily and sets the current gold price. It is based on 24k or 99.9% pure gold. If you sell less pure gold, the spot price will be less. The best way to get the most for your gold and increase your profit is to understand the factors that contribute to the gold prices and why the values are what they are.

Idaho Pawn and Gold

Idaho Pawn and Gold has two Boise and Meridian, Idaho. Frequented by investors, customers who are in all phases of their coin collecting, and customers bringing in gold and silver to help secure a short term pawn loan to get them through a difficult time, the customers will explain they never felt more comfortable with selling the coins and gold to anyone else. Idaho Pawn and Gold offers a full range of pawnshop services, including buying and pawning valuable items. The store also supports a sizeable retail storefront and an online store option. Working with customers to ensure they have links to follow to ask for a quote before coming into the store helps customers not make unnecessary trips saving time and gas. Their website has detailed pages that will explain how to get the most for your items and how to send in descriptions and images to get a free quote. Customers can sign up for opt-in niche lists so that online text users can get notices on sales categories of items and get fliers about what is going on in the stores. For example, in February, customers received information about Valentine's Days sales to save money and get the most value for their money. Come by the store or visit the website today