The gold market is a huge and complex business, with many different players. Understanding how they work can help you make an informed decision when buying or selling your gold. Here’s a quick overview of the three main categories of gold buyers:
What is a Bullion Dealer?
A bullion dealer is a company or individual that buys and sells gold in large quantities. They are not concerned with the condition of the gold, but rather what they can get for it at that moment. Bullion dealers often buy from pawnshops and refiners, who typically don’t want to deal with individuals directly because of high overhead costs associated with handling small amounts of gold.
Bullion dealers are looking for profit–and lots of it! While most people think about buying jewelry when considering how much money they could make selling their old pieces, there are actually many other ways you can turn your unwanted possessions into cash:
- Sell scrap metal (think old tools) online through eBay or Craigslist
- Trade in video games at GameStop stores throughout America
What is a Refiner?
When you sell gold to a refiner, the process is very different from when you sell it to a pawnshop or dealer. A refiner buys gold from the public and then sells it to jewelers, mints and other companies that use gold.
A refiner is not in the business of buying gold from individuals; they’re only interested in large quantities of scrap metal from industrial sources like mining operations or manufacturers’ scraps. This means that if your goal is simply selling an old piece of jewelry for cash (and not getting back any actual pieces of jewelry), then a refiner may not be right for you!
There are many options for the best gold buyer, so it’s important that you know what each of them do.
There are many options for the best gold buyer, so it’s important that you know what each of them do.
A pawnshop is a business that buys and sells used items. You can bring your old jewelry and other valuables to them, and they will give you money in exchange. This can be useful if you need cash quickly or if you’re looking to get out from under some debt by selling something valuable that no longer holds any sentimental value for you. However, there are some downsides to this option:
- Pawnshops typically only offer low amounts of money for gold items–and sometimes even less than their actual market value! So if a pawnbroker offers $100 for an item worth $150 according to one reputable website (such as karatbars), then don’t accept their offer unless it’s really convenient for whatever reason (like needing immediate funds). Otherwise take your chances elsewhere because odds are good things will go better elsewhere anyway…
There are many types of gold buyers out there.
There are many types of gold buyers out there. Pawnshops, refiners and dealers all offer different services to the consumer and each has its own benefits. It’s important that you know what each one does before choosing a gold buyer for your needs.
- A pawnshop is a great place to sell your jewelry or other valuables if you need quick cash in exchange for the items being sold. These stores will give you money right away so that you can use it for whatever purpose you wish (like paying off credit card debt). They also offer loans on valuable items like jewelry as well as electronics such as laptops or cell phones so long as they meet certain criteria set forth by state laws regarding interest rates on these types of loans
You need to do research to find the best gold buyer for your needs.
You should always do research to find the best gold buyer for your needs. There are many factors to consider, including reputation, pricing structure, payment options, and delivery options. You need to know what you want and be prepared to ask questions about these things when choosing a gold buyer.
There are different types of gold buyers, and knowing about them is important.
There are many types of gold buyers out there, and it’s important to know the difference between them. A pawnshop is a good place to sell your gold if you need cash quickly. Pawnshops only pay for the value of your jewelry; if you want more money for it, then a refiner or dealer may be better suited for your needs.
There are also some things that all three types of gold buyers have in common: they all buy gold jewelry and coins; they all pay top dollar for these items; and they all offer quick service (usually within 24 hours).
Pawnshops — are a great way to sell gold.
Pawnshops are a great way to sell gold. They pay less than other outlets, but they’re in the business of making money off interest rather than trading in precious metals. Pawnshops usually pay 70%-80% of their gold for items, depending on their condition and whether they have been appraised by an expert.
A pawnshop will pay you less than other outlets because they’re in the business of making money off of interest as opposed to trading in gold.
Pawnshops are in the business of making money off of interest, not buying gold. They don’t buy gold at all–they only sell it. The reason why pawnshops pay less than other outlets is because they’re in the business of making money off of interest and not trading in a physical commodity like other outlets do.
Pawnshops typically pay 70% to 80% of their gold for items.
Pawnshops typically pay 70% to 80% of their gold for items. This can be a great option if you’re looking to get cash quickly, but it’s important to know what the average rate is at your local pawnshop before deciding if this is right for you.
- Pawnshops that pay more than 70%: A few pawnshops offer better rates than the typical 70%-80% range. For example, Cash America offers an 86% payout and EZ Pawn & Jewelry pays 84%.
- Pawnshops that pay less than 70%: Some other options may not offer as much money in exchange for your items, but they might still be worth considering if you don’t have time to sell your gold elsewhere or if their prices are lower than those found elsewhere (which may mean fewer fees).
It’s difficult for pawnshops to buy scrap jewelry or broken chains and rings.
Pawnshops are not the best place to sell your broken jewelry. In order for a pawnshop to buy scrap jewelry or broken chains and rings, they must be able to melt down the materials and then sell it as gold bullion bars. This is difficult because most pieces of scrap jewelry are made up of several different metals–and those can’t be melted down together in one batch.
Pawnshops only purchase gold, silver and platinum when they’re buying precious metals from customers who want cash on hand right now. They do not take in silver coins or gold coins as payment either (although some will accept them if they come with certificates proving authenticity).
Refiners –refiners buy gold from people who have items made from precious metals, such as jewelry, scrap gold, and coins.
Refiners are the best place to sell your old jewelry that’s made from precious metals. They buy gold from people who have items made from precious metals, such as jewelry, scrap gold, and coins.
If you want to sell your old jewelry for cash or trade it in for something else new and shiny at a pawnshop or dealer shop (see below), then it’s important to know what kind of value they’ll put on those pieces before making an offer on them yourself.
Refiners are the best place to sell your old jewelry that’s made from precious metals.
If you’re looking to sell your old jewelry, refiners are the best place to go. They will pay more than pawnshops and gold dealers, and they have the technology necessary to turn your jewelry into pure gold bars or coins.
- Pawnshops
Pawnshops often pay less than refiners because they don’t have access to high-tech equipment like milling machines that can refine metals down into their pure form. If you’re selling gold for cash, it’s best not to go through a pawnshop unless there’s an emergency situation or something similar where you need money immediately (and even then we recommend checking out our other options first).
You can expect a refiner to pay up to 95% of the value of your gold items.
If you have old jewelry that’s made from precious metals, such as gold and silver, then it’s best to sell them to a refiner. Refiners are the best place to go if you have old jewelry because they will pay up to 95% of the value of your gold items. This means that if your piece is worth $1,000 but only has 10 grams of gold in it (which would be about 2 carats), then the refiner may offer $900 for it–meaning they’ll give you 90% back on what they paid for it originally!
This means that when selling jewelry with precious metals like platinum or palladium it’s better off going through an established company rather than doing business with anyone else who wants money fast because these companies can offer much higher values than any other option out there right now
Conclusion
There are many options for the best gold buyer, so it’s important that you know what each of them do. You need to do research and find out which one is right for your situation before making any decisions about selling your gold.