The reasons for surrendering gold are different for everyone. Someone urgently needs money for treatment, loan payment, or an unexpected purchase. Some people get rid of broken or tired jewelry this way. I will tell you how to profitably hand over gold to a pawnshop, what is better to pawn or sell.
Below you will find comprehensive information about collateral options, required documents, learn what to look for when choosing a pawnshop or buying one, and how the price per gram is formed.
How is the cost formed?
It is known that the weight value of a product changes regularly, and fluctuations can occur several times a day. This fact is influenced by:
- volume of supplies to the world market;
- dollar exchange rate against the ruble;
- demand among investors;
- activity of state banks in countries with stable and developed economies;
- influence of the London Stock Exchange.
In our country, the price indicator for precious metals is set by the Central Bank. This happens every day after 10 am. Based on the rate announced by the Central Bank, other financial and credit organizations set their prices. But they add interest rate. Ingots and coins can be purchased and sold profitably.
In addition, the form of gold is taken into account when pricing. It can be in the form of ingots, scrap, jewelry, etc. It is important that a sample is present. This is an indicator of quality and purity.
You can find out the price per gram on gold buying and receiving websites. Thus, the website of the Charoit pawnshop in Penza has a built-in calculator. Anyone wishing to sell or pawn an object needs to enter data on weight and fineness, and he will find out the approximate cost.
Please note that this is not the final result. The appraiser needs to inspect the item being surrendered to determine its condition.
Purchase
Buying precious metals is a good option to get rid of scrap jewelry. Prices here are 30-50% higher than in a pawnshop, and they accept products without tags or samples. The buyer conducts an analysis on site and gives an opinion on the composition of the alloy.
Scrap gold in purchases is accepted starting from 375 purity and higher: the purer the metal, the higher the price.
However, they will not buy nuggets, sand, technical parts made of gold, wire or denture parts at any point.
You should not bring jewelry with precious stones to the buyer. Almost no one wants to get involved with them, since they do not have their own stone appraisers. So the product will be accepted only by the weight of the metal, and the stone can either be donated or removed from the jewelry before sale.
What to do if the sample is missing?
If the tag is missing, it will be difficult to sell the item. But there is a way out. You should consider offers from pawnshop organizations or jewelry workshops.
The staff includes appraisers. They will conduct an examination and independently determine the ratio of impurities and precious metal. Depending on the result obtained, the price will be announced to the customer.
It also happens that the owner does not even suspect that he is storing a high-quality imitation. In this case, the expert will inform him about the fake. The deal will not take place.
Commission shop
Where can I sell gold at a high price? If the jewelry is intact and has no defects, then it can be sold through a consignment store. The price here will be higher due to the fact that not only the weight of the product is assessed, but also its artistic value.
The disadvantage of this sales method is that money can only be received after the sale. In addition, the store takes a 20-30% commission from the transaction amount. But, despite this, in certain cases, when the jewelry is very beautiful and may be of interest to a potential buyer, it is more profitable to sell gold through a consignment shop.
Before taking the product to the store for sale, it must be thoroughly cleaned. It is also advisable to have all the documents - tags and certificates of authenticity from the jewelry store.
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.
Banks
The best option to sell gold at a high price is to take it to the bank. Today, the Central Bank of the Russian Federation exchange rate for gold is 2500.18 per gram. Sberbank buys precious metal for 2,332 rubles. per gram. And if we are talking about selling ingots that have no artistic value, then this is the most profitable option.
However, there are some nuances here too. For example, not a single bank buys scrap jewelry. These organizations accept from the population only bars and coins purchased from them. Or in other banks.
Moreover, upon sale, the seller will have to pay VAT - 18% of the transaction amount, which significantly reduces the attractiveness of this option. Only bullion is subject to tax, while coins can be exchanged for rubles without restrictions.
Banks are also buying collectible coins. But only if they are in perfect condition, that is, packed in a special plastic envelope and without a single scratch. If there are defects on a collectible coin, it will be accepted by weight, without taking into account the artistic value and rarity of the specimen.
What to do with the crowbar?
It can not only be sold. Many owners who have accumulated a certain amount of scrap become buyers in jewelry stores. Retail outlets provide the opportunity to exchange old, damaged jewelry or scrap jewelry for new ones. Sometimes an additional payment is required.
The assessment is made without taking into account the presence of stones.
Some people turn to melters. You will have to pay from 500 to 1000 rubles for the service. The process takes a long time. Sometimes a month or even more passes. The price factor is influenced by conditions such as:
- the complexity of a jewelry masterpiece;
- sample (amount of impurities);
- weight according to the result.
Workshops can increase the percentage and weight of the final product by adding pure Aurum to the alloy. You must pay extra for the service.
A suitable option is to take advantage of pawnshop offers. They will also accept scrap here. If you need a new product, you can get acquainted with the offered assortment and, if necessary, make an additional payment or choose jewelry in a jewelry store.
Official registration of the license
Rules that must be followed when registering:
- the name indicates the word “pawnshop”;
- the premises should not be residential;
- the type of activity is selected in accordance with No. 196-FZ;
- Availability of authorized capital – 10,000 rubles;
- registration of a license: the pawnshop must be registered in the register of the Central Bank.
To obtain official status, you must submit an application and pay a state fee. Moreover, it is recommended to complete these actions before July 9, 2022, then the organization will not be able to carry out the functions of a pawnshop.
Buying is also coming out of the shadows. In 2022, Russian President Vladimir Putin signed a law on licensing such organizations. They must apply to be included in the register by January 1, 2022.
Where to sell gold is more expensive and profitable
It depends on the type of gold, its condition, the timing available to the seller, and the final result. Although all organizations are assessed using almost the same criteria, the cost varies significantly.
Banks will offer the highest price provided you have bullion or coins. It's best to go to where you purchased them. Elsewhere they may refuse.
Any type will be accepted for purchase, but the conditions often do not suit the sellers.
Private individuals will only take exclusive, rare samples that are of interest to collectors.
Owners of gold watches turn to buyers depending on what format they are. Pocket species that have historical and collectible value can be sold at a profit to collectors or you can try to sell them through auction sites.
Wristwatches are most often handed over to loan offices or put up for auction. Collectors of rarities will be happy to purchase premium options. They are produced in limited editions; such copies are valuable for a certain category of people.
The most profitable and fastest way is to take Aurum to a pawnshop. The seller immediately receives the money, no quality certificates are needed, the item can be of either high or low quality.
Jewelry companies are interested in buying gold from pawn shops
For jewelry factories and private jewelers, buying gold at a pawnshop is a profitable option for obtaining raw materials. This is a mutually beneficial cooperation. The pawnshop needs to sell unredeemed collateral items.
For jewelers, scrap gold is cheaper than bank bullion. Its price does not include VAT. According to the Tax Code, a pawnshop does not pay value added tax, since the sale is considered to have arisen from the pledgor.
So, I told you about all the nuances of the pawnshop’s activities. You learned how the procedure for registering a pledge and appraising a product is carried out, what documents are needed to hand over gold, and how to choose a pawnshop. Subscribe to our updates so you don't miss anything interesting. And don’t forget to share with your friends, because this information may also be useful to them.
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.
Women often bring gifts from ex-husbands and lovers to pawn.
Vladimir Morokov : It's true! A lady comes with tears in her eyes, pours out a handful of gold and says:
“Take it! I don’t want anything from my ex!”
The decorations turned out to be serious. Apparently, her gentleman generously showered her with jewelry. We suggested that she take the jewelry to the buyers, they would have given more money, but the woman stood her ground.
“I’ve already arrived, I don’t want to go anywhere else, give me the money according to the tariff!” I really wanted to get rid of everything as quickly as possible.
Question answer
Is it profitable to buy gold today?
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.
Pros and cons of loans secured by a ring
Borrowed funds issued by a pawnshop have their pros and cons. The benefits include:
- Cash is issued in the shortest possible time. As soon as the collateral property is assessed, they can immediately issue a set amount of money and conclude an agreement.
- Employees do not check your credit rating and do not contact debt collectors if you do not return for the pawned jewelry.
- The only documents you will need are a passport. No proof of earnings is required.
- Availability of pawn shops. They are even in small towns, usually within walking distance. Some branches operate 24 hours a day, 7 days a week.
The disadvantages of loans from pawnshops include:
- The interest rate is calculated daily. Usually it is higher than banking, but lower or at the level of microfinance organizations.
- There is a high risk of losing an engagement ring pawned at a pawnshop. If there is no money on the day of redemption, you can forget about returning the jewelry. Pawn shops do not give any deferments. Although some can be negotiated individually, compensation for the amount of accrued interest and asking to extend the storage period will not be for some time yet.
- The amount that a pawnshop can give rarely exceeds 50-70% of the actual cost of the item.
When choosing, you can easily stumble upon not a pawnshop, but a second-hand shop or a moneylender. You can only check the type of activity using the constituent documents, but organizations always provide clients with such information.
Buyers buy gold that the client did not take.
Vladimir Morokov : There is no such thing. At the dawn of pawnshop activity, something similar happened; the organizers collaborated with antique dealers and jewelers. But today this is not the case. There are reasons. The number of all valuable things in the hands of the population has decreased. We are obliged to transfer the remaining gold for auction to other authorities.
There was a period of time in the early 2000s when someone was buying unredeemed gold from a pawn shop. Nowadays there are thrift stores for such purchases. Large “gypsy” items—pendants and chains—are in demand.
