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
Pawn shops do not pay the full market price because they must cover overhead, storage, and the risk of gold prices dropping. 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
: Expect an offer of $32–$38 per gram for 10K gold or $56–$72 per gram for 18K gold, depending on current market fluctuations. : Since gold is non-magnetic, a strong magnet
: Gold is weighed using precise digital scales, often measured in grams or troy ounces (31.1 grams).
: High-end shops use X-ray fluorescence machines for a non-destructive, precise reading of the metal's composition.