Fast money for old gold & silver: pawnshop or sale?

Money for gold © Own image

Those who need money quickly and as uncomplicatedly as possible, but preferably do not want to or cannot take out a loan, are faced with the choice of selling or pawning valuable items.

Pledge or sell?

When you sell a valuable possession, you negotiate a price with the buyer and the ownership of the thing changes after the payment of the agreed price.

In a pawnshop, on the other hand, you basically get a loan. The pawnbroker pays you a sum in cash as a small loan, while the item you bring to the pawnshop remains in the pawnbroker's possession as collateral ("pawn"). Once you repay the borrowed amount, plus interest and fees, after an agreed term, you get your pawned item back.

While pawnshops lend all sorts of movable items, from electronic devices like televisions or Playstations to bicycles, you can also specifically pawn jewelry made of gold, silver and other precious metals or luxury watches.

What's wrong with a pawnshop?

With a pawnshop, you have to consider interest and fees of the pawnbroker and therefore get paid a sum below the actual value. If you are unable to repay the money after the end of the term and a grace period, your pieces will be auctioned off by the pawnbroker at best bid. Your jewelry, watch or whatever you have pawned is then sold. After presentation of the pawn ticket, however, you as the pawnbroker will still be paid any surplus from the sale.

In addition to the interest on the pawn loan and manipulation fees, which are usually charged per half month, there are also origination fees, handling fees, storage fees, etc., so that you always get less money out of a pawnshop than you would if you were selling it

Sell jewelry or borrow against it?

Therefore, consider pawning your jewelry, watches & the like for a pawn loan or selling directly at a gold dealer. The prices that a reputable gold dealer pays for genuine pieces of gold, silver, platinum or palladium are always based on the daily commodity prices. The amount a pawnbroker pays out is also based on these factors.

What you can have appraised & sold with us for free:

Our Gold&Co experts will be happy to advise you which option is more suitable with regard to your pieces and individual situation.

As a rule, it makes sense to borrow money in the short term for pieces with high emotional value, if you are 100% sure that you will be able to repay the pawn loan. After all, you only sell memorabilia in case of emergency - no price in the world can outweigh the beautiful memories. In many other cases, a direct sale makes more sense. Simply because you get more money for your gold.

What do I get for my jewelry?

If you want to sell your gold jewelry with us, the price we pay you is based on 3 basic things:

  • The current price of gold (or the price of silver, platinum or palladium),
  • the weight of their pieces,
  • the fineness of their pieces (carats)

You can check all these points - at least roughly - yourself. You can find the current precious metal prices on the Internet (for gold & co. on our price page), you can determine the weight with a digital kitchen scale and the fineness of a piece of jewelry can usually be found in the form of a hallmark directly on the piece. For necklaces mostly on the clasp, for rings on the inside, etc.

Current purchase prices at Gold & Co

Current purchase prices per gram at Gold & Co

Preise zuletzt aktualisiert am 22. June 2024, 17:57 Uhr

If your jewelry contains gemstones, the valuation depends on their type, size as well as condition, i.e. whether they are damaged by scratches, for example.

Egal, ob Sie mit einem einzelnen Stück oder einer ganzen Schmuckschatulle in eine unserer Filialen in 1090, 1030 oder 1220 Wien kommen: Wir bewerten alle Ihre Stücke kostenlos und völlig unverbindlich. Wenn Sie Ihre Wertgegenstände verkaufen möchten, erhalten Sie das Geld gleich in bar ausbezahlt.

Lease gold coins or bars?

Besitzen Sie Goldmünzen oder Goldbarren und brauchen akut Geld, macht es fast immer Sinn Ihre Münzen oder Barren bei einem seriösen Händler zu verkaufen anstatt sie zu beleihen!
Anlagegoldmünzen wie der Wiener Philharmoniker, GolddukatenMaple Leaf oder Krugerrand Münzen werden, genauso wie Barren, nah am Goldpreis gehandelt und sind austauschbar. Sobald Sie wieder über genügend Bargeld verfügen, können Sie sich jederzeit wieder die gleiche Münze kaufen.

You want to buy or sell gold?

Come now for a personal, non-binding and serious consultation in one of our branches in Vienna or visit our online store.
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