So many savvy individuals love to rock gold chains as a distinct status symbol. These chains are also commonly used to carry beautiful pendants and amulets. However, if it’s time to give up your shiny cable for whatever reason, there are pawn shops in Upland that will gladly take it off your hands for a pretty price. The question is, are you getting the best price for it?
The Properties of Gold
There are countless reasons as to why people love to acquire gold as a means of investment. It doesn’t matter if it’s in the form of bars, coins, nuggets, flakes, or jewelry, gold is gold and there is money to be had in the trade. However you choose to carry or store your investment, you really can’t go wrong.
Stable Fiscal Value
Unlike traditional currency such as paper bills, coin change, and credit lines which lose their value during inflation, gold is not affected by such economic factors. Since gold is a commodity rather than legal tender, its monetary value is simply the price of gold itself which is more or less secure in standing because it always holds value as a useful metal. If anything, the price of gold tends to go up rather than down.
*Data sourced from Macrotrends
Physical Traits
As a precious metal, gold contains many properties for a wide variety of uses. It’s flexible enough to be shaped into any form, it’s non-corrosive to withstand harsh conditions, and it’s a conductor of electricity so it’s used for many electronic devices. You’d be surprised to learn just how many items in your home have a tiny bit of gold hidden inside for functional reasons. But perhaps the most common use for gold is in jewelry.
Classic But Versatile Look
The traditional yellow sheen of gold is great for assisting a gem’s beauty by providing it a backdrop in which to stand out. Regardless of the type of stone and its color, gold comes in yellow, white, and rose to compliment every gem in existence. This is why stunning gold jewelry is loved by so many.
Understanding Your Gold Chain
In order to get the best possible price for your gold chain, you must realize the worth of it before you bring it in for an appraisal. You need to know how to identify the quality of the metal and use that to determine a rough estimate which you can use for negotiating at a pawn shop.
A Short Guide to Karats
Encyclopedia Britannica defines a gold karat as, “one twenty-fourth part, or 4.1667 percent, of the whole, and the purity of a gold alloy is expressed as the number of these parts of gold it contains.” In addition, the page states that, “an object that contains 16 parts gold and 8 parts alloying metal is 16-karat gold, and pure gold is 24-karat gold.” This explanation puts the concept of karats into simple terms, but you can still refer to the chart below for a quick rundown.
| Number of Karats | Gold in Parts | Gold in Percentage |
|---|---|---|
| 9K | 9/24 | 37.5% |
| 10K | 10/24 | 41.7% |
| 12K | 12/24 | 50% |
| 14K | 14/24 | 58.3% |
| 18K | 18/24 | 75% |
| 22K | 22/24 | 91.7% |
| 24K | 24/24 | 99.9%↑ |
Gauging a Rough Estimate
If you know the number of karats for your gold chain, then all you have to do is weigh it in grams and you’ll have everything you need to calculate a price estimate. If you don’t know the number of karats, you can take it to any professional jeweler or pawnbroker who has training in identifying the quality of gold. And with plenty of gold calculators available online, you don’t even have to do the math yourself!
Another way to judge the worth of your gold chain is to compare it to a pawn shop listing to get a feel for how the store may grade your treasure. Remember, it is completely appropriate and even encouraged to engage in a negotiation with a pawnbroker.
Getting the Best Price
Even though there are calculators and rough price ranges online, the value of your particular chain can still be different from what you might expect. That’s because the condition of your jewelry still has an effect on the final price, so it’s important to make sure that it’s in the best condition before you go asking for a quote.
Prepping Your Gold Chain
The most effective way to prepare your gold chain for selling is to clean it like new. Here are a few ways to effectively clean your chain for a blinding shine:
- Use mild soap and warm water to gently loosen and scrub off dirt and other debris
- Get an ultrasonic cleaner to agitate the water with high frequency sound waves which will cause dirt to shake off of the chain
- Simply pour boiling water on top of the chain as a slightly more aggressive measure in case the previous methods do not work
Finding the Right Place to Sell
You could prepare your gold chain to the best of your abilities but a dishonorable pawn shop will still give you the short end of the deal. To avoid being scammed, you need to find a seller you can trust. You can tell if a pawn shop is trustworthy by reading reviews online and seeing how long they’ve been in business.
The Best Pawn Shop in Upland
If you’re looking for a reputable pawn shop in Upland, you can stop your search and go straight to Central Mega Pawn. With over a thousand customers vouching for their honest business, you can put all of your worries aside when you come for a visit. Give the friendly staff a call today at (909) 627-9622 before stopping by 11031 S Central Avenue in Ontario, California. Once you step foot inside and take in the atmosphere, you’ll know that you’ve found the right place!
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