Pawn Gold Rings or Sell Them in Las Vegas, NV
A gold ring is one of the world’s most marketed jewelry pieces. Unfortunately, when experiencing financial difficulties, many people usually look for ways to sell or pawn their gold rings. In this article, you will learn more about pawning your gold ring, why selling your gold ring is better, and gold ring values.
Pawn Gold Rings
When they need quick cash, a lot of people would typically run to a pawn shop. Pawn shops offer short-term loans in exchange for collateral, a gold ring, for example. First, a deal will be made between the owner of the gold ring and the broker. And once a deal is final, the owner will take the agreed cash “loan” and sign an agreement that they will pay back the cash with interest in exchange for the gold ring—if they want it back.
Pawning is good, but selling is better. So if you plan on pawning your gold ring, it is better to just sell it. If you’re wondering why selling is better, well, selling will get you more money because gold ring buyers will also consider the value of the gemstone in your ring and the gold value. So if you sell your gold ring to gold ring buyers like Nevada Coin Mart, you are getting the best deal.
Gold Ring Pawn or Sell Value
When you bring your ring to a pawn shop, you will not get the 100% of the value you expect. Please note that pawn shops also charge interest with the loan cash. And pawn shops will only pay for the ring even if it has gemstones. However, if you bring your gold ring to a gold ring buyer like Nevada Coin Mart, you will get the full value of your ring. And that includes the gold and the gemstone’s value.
The value of gold is based on its weight and purity. So when you pawn your gold ring (selling is better!), your gold ring will be weighed and checked for its purity. So typically, the weight is multiplied by its purity to get its value.
Below is a guide for understanding gold purity.
- 9-karats (9K) = 37.5% of gold purity
- 10-karats (10K) = 41.7% of gold purity
- 12-karats (12K) = 50.0% of gold purity
- 14-karats (14K) = 58.3% of gold purity
- 18-karats (18K) = 75.0% of gold purity
- 22-karats (22K) = 91.7% of gold purity
- 24-karats (24K) = 99.9% of gold purity
It is also important to note that the price of gold changes daily as it is a volatile commodity. To understand the price of gold, you may refer to here. The gemstones in your ring are also taken into account. So if you sell your gold ring instead of pawning it, you get the value for gold and gemstone.
Gold Ring Buyer
Why pawn when you can sell your gold ring to the best gold ring buyer in Las Vegas. NV? Sell your gold ring to Nevada Coin Mart! We offer the best value and use a non-invasive x-ray spectrometer to evaluate your gold ring.
For more information, visit us at Nevada Coin Mart® 4065 S. Jones Blvd Las Vegas, NV 89103, or call us at 702-998-4000.