Financial difficulties in the family associated with a lack of money encourage people to go to pawnshops in order to hand over gold, exchanging it for banknotes. Pawnshops buy back valuables or accept them as collateral. This option may suit many people.
After all, not everyone has time to attend auctions or place advertisements on advertising boards in order to sell gold. However, before pawning gold in a pawnshop, it is important to first find out all the points associated with this kind of transaction.
How to hand over gold correctly
Where is the best place to donate gold?
There are two options - buying or pawnshop. Buying is an organization engaged in the purchase of gold products. The pawnshop does not buy gold from you, but gives you a loan against it (you can also get money here using other valuables as collateral). Your gold becomes the property of the pawnshop organization only after the expiration of the pledge period and another 1 month (the so-called “grace period”). The price in buying and pawn shops is usually the same. However, when returning it to the latter, you retain the right to change your mind and buy the jewelry back. If this option is important to you, choose a pawnshop. What about jewelry stores, you ask? After all, salon advertising posters often call for selling gold at a tempting price or exchanging it for new jewelry. Acceptance of gold in this case follows the same pattern as in the purchase. Important! The advertised price is the highest. In reality, the price of accepting jewelry may be lower. Find out how the calculations were made, divide the estimate by the weight of the product to calculate the price per gram and compare with the offer.
How to hand over gold to a pawnshop? The answer to this question depends on your goals. There can be two of them:
- get rid of scrap gold - earrings left without a pair, out-of-fashion jewelry;
- get a quick loan.
In the first case, handing over gold items will help you get a new ring or earrings instead of a pile of unnecessary gold scrap, and money for current expenses. And in the second - to solve financial difficulties without turning to friends, or, what is much worse, to microfinance organizations with insane interest rates on loans. Read below about the difference between refundable and non-refundable change.
How much can you get per gram?
The value of a piece of jewelry or other item made of precious metal is determined by a pawnshop specialist - an appraiser.
Usually the price per gram of gold is approximately the same in all pawn shops in the city. However, if you have free time, it’s worth walking around and looking for interesting options.
In most cases, the price does not exceed 50% of the market value of the precious metal. It just so happens that for gold products of 583 and 585 samples they give a little more than half the discount rate of the Central Bank. To determine in advance the approximate size of the loan, you can look at the cost of a gram on the Central Bank website and divide it by two.
This way you will know approximately what you can expect when purchasing. With a high degree of probability, the rate will fluctuate within the obtained value plus or minus 200 rubles. You can earn the most for products made from 999 fineness. They are usually used to make bars and coins. A gram of such metal will be 60-80% more expensive.
How to register a deposit in a pawnshop
After assessing the values, the pawnshop organization issues you a loan. It does not necessarily have to be the entire appraisal amount - you can “borrow”, for example, 50% of the appraisal amount, so as not to overpay extra interest when returning the collateral. At the same time, if you are not sure that you will be able to buy the property, it is better to withdraw the entire amount. You will receive a pledge ticket with a description of the details of the transaction. In addition, the package of documents includes a consumer loan agreement. These documents and a passport will be needed when completing the ransom.
Advantages of contacting Charoit
"Charoit" has a number of advantages over other institutions of this type. That is why those who want to act for their own benefit most often come here. Let's note the main advantages:
- The highest score in the city was recorded.
- There was a low interest rate under the loan agreement.
- Located in convenient places. They are easy to reach from anywhere in Penza.
- Bonuses and special programs are provided for regular customers.
- The safety of the pledged property is guaranteed. It is insured and stored in secure safes.
- For registration you only need a passport.
- Qualified employees will appreciate the deposit and offer favorable conditions.
The staff of the Charoit network use the principle of an individual approach to each client. Here you will be able to sell or pledge gold on favorable terms with the possibility of subsequent redemption. You no longer have to waste time searching for the right buyer. The safety and legality of concluded transactions is guaranteed. The applicants do not have any problems. The cash you receive will help you out in difficult moments in life.
Basic conditions and requirements for acceptance
Any adult citizen of Russia can become a client of the pawnshop (citizens of other states have the right to require additional documents).
You must have a passport and, preferably, an INN with you. What kind of gold can be taken to a pawnshop:
- jewelry (with or without breakdown);
- coins;
- bank bullion;
- dishes;
- dental crowns.
Gold in the form of semi-finished products - ingots, nuggets, sand - is not accepted. You can donate any amount of jewelry, but these must be items of personal consumption, that is, they cannot accept a wholesale batch of jewelry (for example, 5 identical bracelets). Jewelry should be clean - at a minimum, wash it in soapy water and dry it.
Where is it profitable to sell gold: options and advantages
Certain types of organizations and individuals are engaged in the acquisition of precious metals. Before handing over your inventory, you should carefully study the offers of all potential buyers and only then enter into an agreement.
Pawnshop
They take any form that has value. So, in “Charoit” they will take gold regardless of its condition and type. No one will require quality certificates.
If a client urgently needs money, but plans to return the rental property, you can draw up an agreement to borrow funds against collateral. In the future, the seller will buy back his property, returning the borrowed finances with interest.
If the client knows that he will not buy anything back, it is better to sell it right away. It's more profitable.
The appraiser will examine the sample and make a conclusion. The outcome will be influenced by factors such as:
- weight;
- try;
- state;
- loan term;
- form.
All adult citizens can apply here. You will need to provide a passport. Without identification, the transaction is impossible.
Purchase
They are engaged in buying scrap and gold items for the purpose of subsequent resale to jewelry workshops or pawnshop companies. Here is the lowest rate. This is justified. Otherwise, the activities of such establishments will not be profitable.
The advantage is that it is possible to get rid of scraps, parts of jewelry, and dentures. Experts say that organizations accept the precious metal at a price one and a half to two times lower than the market price.
Internet auctions
Pawn shops sell unclaimed gold here. It is unlikely that you will be able to personally hand over an item to an auction. But you can buy good, high-quality jewelry.
Only original, exclusive jewelry in excellent condition is exhibited. Persons who have reached the age of majority are allowed to participate in the process.
Also, to take part in the auction, you can call the specified phone number or send an electronic application.
Consignment specialty stores
They specialize in the sale of jewelry purchased from private individuals under a contract. The seller receives income only if the item is successfully sold.
If the goods cannot be sold, they are returned to the owner. The profit of commission merchants comes mainly from interest.
Banks
You can sell bars or coins here. Jewelry or figurines will not be accepted. Samples must be in excellent condition with no obvious defects. They will also be required to provide a certificate.
Selling stocks to banks is not always convenient. The population generally has jewelry, but the financial and credit organization does not purchase it.
Private individuals
Sales can be complicated by finding the right seller. There is a high risk of running into a scammer. In addition, private receptionists are interested in collectible exhibits. They will not deal with scrap or damaged products.
Thus, it is wisest to turn to pawn shops. Let's note their advantages:
- speed of transaction;
- availability of a minimum of documents;
- the opportunity to return the deposit;
- money will be received instantly;
- the opportunity to sell precious metals in any form and condition.
"Charoit" receives flattering reviews from customers. They are satisfied with the work of the experts and the results obtained.
How products are priced
How much does it cost to take gold to a pawnshop? In each such organization you will find a table listing the categories of accepted values. The price will be calculated based on which category your jewelry will be classified into. The following criteria influence the cost of acceptance:
- presence of defects;
- degree of wear;
- design features (modern, outdated);
- presence of branding (Russian, foreign);
- type of product;
- need for repairs.
To verify authenticity, testing is carried out using a rubbing stone: they rub the surface of the precious item, leaving a small amount of gold on the stone. A reagent will be applied to the metal grains, which will determine whether the precious metal corresponds to the declared sample. The receiver may have doubts that the jewelry is gold in its entirety - it may turn out not to be gold, but gilded. In this case, a specific gravity test is carried out. If the specialist still has doubts, he will offer to see through the product. This will deform the jewelry, and you may refuse such tests, just as the acceptor may refuse to accept you.
What do owners of precious metals need to know?
Holders of values must be guided by certain rules. Then it will be possible to sell the reserves safely and profitably. Remember:
Contact only reputable organizations. Do not sell jewelry by hand in passages, on the street, to random acquaintances. There is a high risk of running into scammers or receiving a small reward despite the rarity and exclusivity of the product.
Dental gold can be sold to pawn shops or purchases. Other institutions are not interested in it. Don't waste time and contact the address immediately. Although the rates are much lower, this is the only way to get rid of unnecessary crowns.
Jewelry with stones - how to donate
Where is the best place to donate gold with inserts?
When returning jewelry with precious stones, check whether they will be taken into account. Sometimes the weight of the stones is simply subtracted from the weight of the item, but this is not a general rule - look for a pawnshop that will pay for your diamonds. If the inserts are semi-precious or synthetic stones, their cost will not be taken into account: the estimated weight of the inserts will be subtracted from the total weight of the jewelry. The appraiser calculates the weight of the stones without removing them from the jewelry, using special tables. When selling jewelry, you can take the inserts for yourself and dispose of them at your own discretion, but no one can guarantee that the stone will not be damaged during dismantling. It is not uncommon for a diamond to chip off its lower part (culet). Sometimes a stone is damaged long before it reaches the appraiser's hands, but this remains unnoticed while the diamond is in the setting. Do you want to get money for branded jewelry, large diamonds, sapphires, rubies, emeralds? Go where they will be appreciated: do not settle for the price of scrap gold.
Pros and cons of pawn shops
The increase in the number of organizations that accept gold indicates the creation of acceptable conditions for working with them.
Advantages of pawnshops:
simplicity of contract execution;
high speed of all transactions: what would take half a day at a bank is completed by a pawnshop in a matter of minutes;
Several schemes for handing over/repurchasing jewelry are offered;
The borrower’s personal data (age, employment, credit history) is not taken into account.
There are also disadvantages, and they are significant:
high interest rate;
lower price per 1 gram of gold than the market average.
How to return with or without a return and which is more profitable?
How to hand over gold to a pawnshop - without return or with return? We found out that this depends on what kind of gold is being handed over to the pawnshop - whether it is necessary or no longer necessary for you. The general rules are as follows: the amount is issued on the security of deposited valuables for a certain period, usually 1 month. Upon redemption, you will need to pay interest. Their amount is indicated in the contract.
- How to hand over gold to a pawnshop without returning it? Immediately state that you do not want to buy back the items - you may (but should not) be offered more interesting rates. Check the conditions of a specific organization, for example, how the rate will be calculated depending on the speed of redemption, and whether there is a minimum pledge period.
- How do you hand over gold to a pawnshop and return it? It is advisable to immediately determine the period for which you are pawning the jewelry - the rate may depend on this.
Important! The pawnshop is obliged to store the valuables you handed over for at least 1 month after the expiration of the pledge period. Only after this period does he have the right to resell or scrap your jewelry. So you have the opportunity to buy back the collateral later, but most likely at a higher interest rate. Can't meet the deadline? Check the possibility of remortgaging.
Pawnshops "Diva" offer to sell old gold at a competitive price in St. Petersburg and Tomsk. We will appreciate your gold jewelry!
Advantages and disadvantages of the decision made
The decision to transfer gold temporarily or permanently to an appropriate organization has its advantages and disadvantages.
The advantages include:
- Possibility of quickly receiving money.
- Minimum documents.
- The contract is drawn up on the spot, without the need to collect various certificates and instructions.
- If gold is transferred as collateral, then you can terminate your relationship with the pawnshop at any time. You won't have to pay any fines or fees for this. However, if due to the fault of the client there is a delay in payment or return of money (in the case of a secured loan), then the pawnshop has the right to impose fines. Most likely, they will be charged at double the rate.
- When donating gold, its fineness does not matter.
- The purchase can be considered as a place to store valuables if you need to go somewhere.
However, there are also disadvantages to this choice:
- pawnshops set low prices for accepted items;
- when valuables are given as collateral, the loan received will be small;
- the interest rate on the loan in this case is significantly higher than in a bank;
- The loan is provided for a minimum period - several days, weeks or months.
Features of a pawn loan
As mentioned above, to obtain a loan from a pawnshop, the client must provide collateral. But in order to take it back, you will need to not only pay the borrowed amount, but also a commission for storing valuables and ensuring their safety. Its size must be specified in the contract.
As for the jewelry that the pawnshop accepts, these can be items made of noble or precious metals, as well as stones that have any financial value. Before concluding a transaction, all jewelry is carefully examined by an expert who evaluates its authenticity. In addition to finished products, pawnshops also accept as collateral or buy scrap gold, platinum, silver and palladium, ancient coins containing rare metal alloys or precious stones.
There is also a list of things that pawn shops do not work with. These include: unprocessed precious stones, metals and their alloys, gold leaf, semi-finished diamonds, as well as items intended for use in laboratories or industrial settings.
What happens to collateral if it is not applied for?
The pawnshop provides the opportunity to resell jewelry that its owners did not ask for. It is considered correct to immediately warn the organization’s employees that there is no opportunity to buy the item. When leaving the pawnshop, you need to prepare for the subsequent actions that will be performed with the decoration:
- sale in jewelry stores: if the item is well preserved, after cleaning and polishing it can be sold, such stores belong to pawnshop owners, it is customary to sell items there (and quite expensively, as for used items) that were not returned to the owner, but the price is still lower compared to new jewelry;
- auctions for branded items: such events and organizations, operating on an ongoing basis, are also most often the result of the activities of pawnshops, they allow you to sell branded jewelry at a high price; there are also more famous organizations that conduct such auctions;
- sale of scrap to factories: products that have lost their attractiveness, are broken, but contain a significant proportion of gold, can acquire a second life; scrap of precious metals is resold to jewelry factories for melting down.
