All About Gold and Pawn Shops


Why You Should Take Your Gold to a Pawn Shop

Gold is at an all-time high in value; at the time of this article it is worth $1,295 an ounce! For those that have been holding on to gold over the past few years have seen a major increase in the value of their stash. If you have a nice collection of gold jewelry, coins, or bars, what do you do with them now? How can you cash them in? A pawn shop is your best option. Pawn shops offer to pay you top dollar for your gold, give you cash in hand that day, and spare you from any hassle of having to take care of it yourself and wait for your money. Here we will discuss the different types of gold, how much your gold could be worth, and if a pawn shop is the right place to cash in your gold stash!


All about Gold

Gold is a precious metal that was discovered in by a child in a stream thousands of years ago. This shiny yellow nugget was discovered in its natural state and can still be found in rivers and creeks around the world. Since its discovery gold has been valued and used for coins, jewelry, industrial pieces, and ornaments. In its pure state (24 goldbarskarats) gold is very soft and considered to be one of the most malleable and pliable metals. In order to make it less expensive and more firm, this precious metal is usually mixed with other metals including silver and copper.


What Type of Gold do you Have?
Gold is ranked by purity level which is listed below:

  • 24 Kt. 100% pure gold

  • 18 Kt. 75% pure gold

  • 14 Kt. 58.3% pure gold

  • 12 Kt. 50% pure gold

  • 10 Kt. 41.7% pure gold

Different types of gold that is alloyed (or mixed with other metals) come in different colors. The list below shows common colors and the mixtures that are associated with them:

  • Yellow Gold 50% silver and 50% copper

  • White Gold Manganese, copper, tin, zinc, and nickel

  • Blue Gold A small amount of iron

  • Green Gold Silver or cadmium

  • Pink Gold 90% copper and 10% silver

  • Grey Gold 20% iron

By general standard anything less than 10 karat gold is considered to be fake gold. The best way to tell if your gold is real or not is to take it to your local pawn shop and have it assessed. If you would like to tell if your gold is real before you leave home, try some of these tips:

  • Check for wear and tear. If there is any metal showing where the friction has rubbed the gold away, your piece is probably gold plated.

  • Bite test. While this isn’t the most reliable test, you can bite down on your gold. If you see indent marks this means your gold is soft. The softer the gold, the deeper the ident marks, and the more pure the gold will be.

  • Magnet test. Use a magnet and see if the gold pulls toward it or sticks to it. Gold is not magnetic, so if it reacts to the magnet it may not be real.

  • Use a magnifying glass. Most gold pieces will have official markings along the clasp or on the side of the ring or earring listing the karat.

Taking Your Gold to a Pawn Shop

Most pawn shops have very precise systems to evaluate your gold. They will first use multiple tests to evaluate if your gold is real. They will then inspect it for purity, weight it, and offer you a price based upon the weight and the latest selling price of gold. They will even take broken pieces of jewelry or any other gold items. When you go to a pawn shop to sell your gold you are ensuring you will get top dollar for your piece. You do not have to wait for you money as you will get cash in hand that day, you do not moneygoldhave to worry about mailing your gold anywhere and worry about it getting lost, and you can talk with your local pawn broker and watch them inspect it so you feel more comfortable with the transaction.

Have your Gold Appraised Today
Gold is at an all-time high and now is the time to cash in! Take your gold pieces, jewelry, broken jewelry, coins, ornaments, or any other gold pieces you have and get it appraised at your local pawn shop today! You will walk out with confidence knowing you received top dollar for your gold and be happy to have your easily earned cash in hand.


5250 west Grand Ave,

Gurnee, IL 60031

Phone. 630-708-7296