Pawn shops buy gold by evaluating its "melt value"—the raw value of the metal—and typically offer between of that market price . Unlike jewelry stores, which may value brand or design, pawn shops primarily focus on the intrinsic value of the gold content itself to ensure they can profit even if they have to sell the item to a refinery. The Evaluation Process
: Scratching the gold on a testing stone and applying acid. If the mark remains, it matches that karat level. how do pawn shops buy gold
: Since gold is non-magnetic, a strong magnet is used to quickly rule out many fakes. Pawn shops buy gold by evaluating its "melt
: Gold is weighed using precise digital scales, often measured in grams or troy ounces (31.1 grams). If the mark remains, it matches that karat level
: High-end shops use X-ray fluorescence machines for a non-destructive, precise reading of the metal's composition.
: Expect an offer of $32–$38 per gram for 10K gold or $56–$72 per gram for 18K gold, depending on current market fluctuations.
: Brokers look for hallmarks (stamps like 10K, 14K, or 18K) that indicate the gold's purity.