273 W. Main Street, Meriden, CT 06451   |   MONDAY – FRIDAY 11AM – 7PM   |   SATURDAY 11AM – 4PM SUNDAY CLOSED

273 W. Main Street, Meriden, CT 06451    

MONDAY – FRIDAY 11AM – 7PM   |   SATURDAY 11AM – 4PM SUNDAY CLOSED

(203) 237-0899

Do Pawn Shops Buy/Sell Gold Coins?

Gold has been among the most valued precious metals for centuries. It is a rare metal and is commonly used in precious jewelry. It does not corrode, so it’s a safe investment that lasts generations. Gold coins are a great way to invest, as they can be easily bought, sold, and passed down to future generations. Gold coins come in different purities and weights and can be easily purchased from various sources. They can be easily sold at current prices in the market whenever you need cash.  

If you, too, are looking to buy or sell gold coins, you should stop at your local pawn shop. Remember, not all pawnshops buy or sell gold coins, jewelry, or bullion. So, make sure you call up and check before you visit them. Meriden Pawn accepts all types of gold coins, bars, bullion, and jewelry.  

Buying gold from a pawnshop 

When buying gold coins at a pawn shop, there are some points you should keep in mind to make an informed purchase:  

Research

Before you visit the pawnshop to buy a gold coin, find out the market price of gold. The price of gold depends on its purity, and prices of gold are volatile. So, gather all the important information before you go gold shopping. 

Purity and authenticity

When you decide to buy a gold coin from a pawnshop, make sure you check its purity and authenticity before you agree on a price. Look for purity certifications or hallmarks to verify the gold’s purity and authenticity.  

Negotiate

While there is not much scope for negotiations when it comes to gold coins because the prices are based on market prices, you can still make a reasonable offer.  

Once you make a purchase, do not forget to ask for the relevant documentation that certifies the weight, purity, and other details about the gold coin. Remember, a gold coin can be an investment for a lifetime and can be passed down to future generations, so make sure you have all the relevant documentation to prove the coin’s value.  

Selling gold coins at the pawnshop 

If you need some quick cash without any hassles, a pawnshop is a great place to sell anything you can part with, including your gold coins. You can take some simple steps to ensure you get a fair deal on the transaction.  

Know your gold coins

Not all gold coins are the same. They differ in weight, size, and purity. The price you get for your gold coin would depend on all these factors. Ideally, your pawnshop should be able to do an assessment and provide an evaluation of the gold coin. If you have any authenticity certificates or other documentation, take it along to the pawnshop.  

Check the market prices

Gold prices fluctuate every day. So, check the market price on the day you have to sell the gold. Have this figure in mind when negotiating the price at the pawnshop.  

Choose your pawnshop wisely: No matter how desperate you are for cash, do not just go to any pawnshop to sell something as valuable as a gold coin. Choose a reputed and trusted pawnshop like Meriden pawn that can assure you of hassle-free transactions and a fair price. Bring your gold coin to us so that we can make the best offer.