Cash M Company offers loans against gold, as well as cash for gold. One of the most frequent questions our clients ask is what the better option is between the two.
As far as selling/buying gold is concerned, gold has an open market trading system therefore has a set value which would be honoured anywhere in the world, regardless of where you’re selling it. Of course the payout amount is determined by buyers and can differ quite vastly, so it’s important to find buyers you can trust.
Now, when it comes to pawning gold, it’s a different story. There are no set percentages or rules, because again, it depends on the pawn broker. To have a rough idea, pawn shops usually offer anywhere between 40-80% of the actual gold value. After all, you are expected to buy back your collateral.
Since gold is always moving, it’s difficult for pawn brokers to establish fair prices because the value of the gold may drop after the pawn deal is sealed. Therefore the majority of pawn shops pay less for pawned jewellery then just bought.
At Cash M Company, we take pride in offering full value for gold even those looking to pawn their valuables. We take the risk but ensure our clients are treated fairly regardless of the type of transaction.