Gold is the most counterfeited precious metal in the market, and that fact often places pawn shops under suspicion. In reality, state laws and community reputation make buying gold from a pawn shop less risky than you might think. While there are things to know before buying gold in Olathe, KS, you can still do so safely when you visit our store. Here are five reasons to buy gold from a pawn shop:
- Great deals: Retail prices on gold jewelry are high and often unaffordable for most people. When you look into our second-hand inventory, you’ll find quality pieces for much less than you’d see in a department store. Gold goes from being an unattainable precious metal to a readily affordable gift or personal collection piece.
- Unique and beautiful pieces: Pawn shops don’t stick to just one style, and you can find a wide assortment of gold watches, rings, bracelets and necklaces. You will find vintage pieces as well as modern ones. There is something for everybody, and all you need is a willingness to take a good look!
- Investment value: Gold gains value over time, and when you pay retail, it takes longer to build a return on investment. Spending less than retail means your gold gains value, and eventually you can sell it for more than you paid for it. This relationship turns your gold from being mere trinkets or baubles to a real investment that brings in cash when the price is right.
- Rare coins: Pawn shops are not just about jewelry. Many carry expansive coin collections too. You can find popular coins and rare ones alike, and just as with jewelry, you often pay much less for them. That also adds to the return-on-investment element, although you may find some coins appealing as gifts or valued possessions.
- Avoid buying stolen property: Once upon a time, pawn shops were a repository for stolen property. This development gave them a dubious reputation, and every pawn shop purchase was a risk. Nowadays, however, state laws require that we collect identification information from the seller (usually from their driver’s license), as well as item descriptions. This information is submitted to local police departments to compare with stolen property from recent crimes. These processes allow for better tracking and verification than buying jewelry or gold off Facebook Marketplace.
If you are interested in gold coins or jewelry, visit pawn shops and ask them questions about how they inspect gold and set prices. Employees who appraise jewelry and coins should have a precious metals background that allows them to spot fake gold. If you have any doubts, move on and purchase at a different shop.
Among the things to know before buying gold is that you should only buy from reputable dealers. Harrison Street Pawn offers an extensive gold selection. We are a certified precious metals pawn shop that reduces your risk and raises your expectations. Visit us today and see why buying gold from a pawn shop in Olathe, KS can work for you.