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Do SoCal Pawn Shops Buy and Sell Gold Bars and Bullion?

Do SoCal Pawn Shops Buy and Sell Gold Bars and Bullion?

by | Jun 22, 2022 | Blog

Want to buy or sell gold bars or gold bullion in SoCal? Be sure you visit your local pawn shop first. Although it would be irresponsible to say that all SoCal pawn shops buy and sell gold bars and bullion, at Central Mega Pawn in Ontario, we do buy and sell both gold bars, and gold bullion near Pomona and Upland. Here’s what to know about buying or selling gold at our SoCal pawn shop.

Gold Bars and Gold Bullion: What to Know

Gold bars are a type of bullion. In essence, gold bullion simply refers to any type of very pure gold. The term bullion applies to any gold bar that is stamped with both the size and purity of the bar. This stamp makes the gold tradeable as a currency. Also known as gold ingot, gold bars are available in a variety of sizes including:

1 Gram Gold Bar

This is the smallest investment size gold bar. It is.032 Troy oz, and measures 8 mm X 15 mm.

10 Gram Gold Bar

At less than .33 Troy oz, a 10-gram gold bar measures 18 mm X 31 mm.

20 Gram Gold Bar

At .64 Troy oz, a 20-gram gold bar measures 22 mm X 39 mm.

1 Troy Oz Gold Bar

This is the most commonly traded size of gold bars. It equals 31.1 Troy oz, and measures 24 mm X 42 mm.

50 Gram Gold Bar

A 50-gram gold bar is 1.61 Troy oz and measures 25 mm X 45 mm.

100 Gram Gold Bar

A 100-gram bar of gold measures 31 mm X 55 mm and weighs 3.2 Troy oz.

10 Troy Oz Gold Bar

A 10 Troy oz gold bar is equivalent to 311 grams. It measures 33 mm X 57 mm.

1 Kilo Gold Bar

This is the largest commonly available gold bar. It weighs 2.2lbs ad measures 40 mm X 80 mm.

Why Buy Gold Bars and Bullion

Gold bars and bullion help you to protect yourself financially in a variety of ways. Gold offers unique benefits that differ from paper currency and other investments. That’s why many experts suggest buying some gold as part of your overall financial strategy.

1. Protection during Inflation

Inflation is at levels that haven’t been seen in 40 years. Inflation is a term that describes rising costs of goods and living. In 2022, inflation soared more than 8%. When inflation increases, the price of gold also increases, so it’s a good commodity to own.

2. Safeguard against a weakening U.S. dollar

When the cost of living and goods increases, the dollar becomes less valuable. That means paper currency doesn’t go as far as it used to. Current sky-high gas prices, the price of groceries, and escalating rents and mortgage rates are all the hallmarks of inflation. When the dollar becomes less valuable, the value of gold tends to increase. Therefore, owning gold can help protect you financially.

3. The value of gold tends to be steady

Historically speaking, when the dollar loses value, the stock markets react negatively. Gold isn’t linked to the stock market and tends to hold its value. Gold also doesn’t corrode so it can be used to make jewelry, irrespective of the stock market. This makes it a stable commodity to own.

4. Demand for Gold

Gold is virtually always in demand. In fact, in many countries people intentionally buy gold bars as a retirement and financial planning strategy. Because people are constantly buying gold and gold bars, the demand remains high even during volatile economic markets.

5. Protection From Geopolitical Issues

Geopolitical uncertainties, such as a nuclear threat, or war in Europe, often lead people to buy gold bars. That’s why it is sometimes referred to as a crisis commodity.

Gold Bullion Available at Pawn Shops

Pawn shops can yield a treasure trove of gold bullion. You may find a variety of gold bullion in a pawnshop in SoCal, such as:

  • Gold Nuggets
  • Gold Bars
  • Gold Ingot

Other types of gold are bought and sold at many SoCal pawnshops. Though not as easily tradeable as bars, gold in any form has value. Other gold items that you may be able to buy or sell at a pawnshop in SoCal include:

  • Gold jewelry (chains, earrings, watches, bracelets, rings, anklets, necklaces, brooches)
  • Gold flake
  • Gold coins
  • Gold charms
  • Gold teeth

What to Know About Selling Gold Bullion to a Pawnshop

If you’re in need of immediate cash, gold bullion can be turned into money at some pawn shops in SoCal. But, before you pick just any pawn shop, and accept their first offer, follow these tips.

1. Find a Reputable SoCal Pawn ShopLook for a pawn shop’s history in the area. Established pawn shops will have been in business for a while because of their ethical practices. Check to see if they belong to organizations such as the California Pawnbrokers Association (CAPA). Membership in an organization such as this will indicate that a pawn shop abides by all federal, state, and local laws and regulations.

Established pawn shops will also likely have a staff of pawnbrokers who are experienced and follow the current precious metals markets. This can get you the best offer on your gold bullion. Likewise, top-rated and top-reviewed pawnshops will know their customers, and know what they can sell quickly, so you may get a better offer from them.

2. Do Your Research Before Taking Your Gold to a SoCal PawnshopMake sure you know the current price of gold before you take in bullion to sell. You can check current prices online anytime.

Buys and Sell Gold Bars and Bullion in Ontario

Central Mega Pawn in Ontario, near Pomona and Upland, buys and sells gold bars and bullion every day. At our SoCal pawnshop you can expect to find a large variety of gold items for sale. Likewise, we are always interested in looking at your gold items. If it is an item such as bullion, we are likely to make you an offer.

As a leading pawn shop in the Inland Empire, our knowledgeable, friendly, and professional staff is here to serve you seven days a week. We’re conveniently located on S. Central Avenue in Ontario, easily accessible from Upland, Pomona, Claremont, Chino, Chino Hills, Rancho Cucamonga, Alta Loma and Montclair.

Getting a Cash Loan From So Cal Pawn Shops (What You Need to Know)

Getting a Cash Loan From So Cal Pawn Shops (What You Need to Know)

by | Jun 5, 2022 | Blog

Getting a small cash loan hassle-free isn’t as far-fetched as it seems. As long as there’s something of value in your home, and almost everyone has something, you have the tools you need to get cash fast. In this guide, you’ll learn everything you need to know about getting a cash loan from So Cal pawn shops.

The Benefits of a Pawn Loan

Why get a pawn loan over any other small cash loan? The most attractive thing about pawn loans is most likely the fact that you don’t need to tie it to your credit report. It’s really as simple as putting a piece of jewelry or collector coin on the line which is way easier than damaging your credit and any future opportunities that could have been available to you with a decent score.

Perfect for Small Amounts of Cash

If you only need to borrow a small amount of cash anywhere from twenty bucks to a couple hundred, it may not seem worth it to deal with all of the paperwork at the bank. Unless someone close to you is willing to lend you the money, it may seem impractical to go seeking out a loan. Cash loans from So Cal pawn shops, however, are a great way to get you the cash you need in a matter of minutes, and it won’t require complicated and lengthy agreements.

No Risk to Your Credit Score

Most cash loans, big or small, are tied to your credit. Even if the lender doesn’t make a hard pull when transacting your loan, missing a payment can severely damage your credit score. Any unpaid amounts will go to your collections, and it’ll become that much harder to get approved for anything else down the line. With a pawn loan, you can ask for an extension on your payment deadline or allow the shop to permanently claim your collateral item without it touching your credit score at all.

Zero Waiting Periods

When we need cash, we need it sooner than later. Taking out a traditional loan can take an entire day or longer to process, and you may not have the time to spare. When you go to a pawn shop, the process is so simple that in the time it takes for you to walk into the store and come out with cash in your hand, it would have felt like only a moment.

Reliable Source

Applying for a loan online, you risk the chance of the lender either being a scammer or they could disappear off the face of the earth when you run into any issues. People online can be difficult to track which could leave you in a tight spot. Pawn shops that have been established in the area for years are not likely to up and leave overnight. Before you go to a store, you can check the store’s reputation by reading online reviews to get an idea of whether the shop is trustworthy or not.

The Pawning Process

Dealing with pawn shops is incredibly simple and easy once you know how a pawnbroker does things. Broken down into simple steps, all it takes to take out a pawn loan is to:

1. Find an item of value

This can range from a piece of jewelry to a collectible trading card and everything in-between. You’d be surprised to find out how many things in your home are worth a bit of cash, so now is the time to scrounge around to see what you can find.

2. Negotiate the loan terms

When you bring your valuables to a pawn shop, the pawnbroker will carefully examine each piece to gauge the value. Many brokers are trained and/or licensed to appraise certain things like jewelry or coins. However, this doesn’t mean that you need to take their word for it. If you feel like your item is worth more, pawnbrokers are no stranger to negotiations.

3. Receive your cash

Once you and the pawnbroker agree on a price, you settle on terms and make your exchange. Each pawn shop has their own way of calculating the terms of a loan. After that, the broker keeps your item, you take the cash, and that’s it!

4. Repay your loan

Many shops will give you a decent amount of time to repay your loan no matter how small. If you can’t repay your loan for whatever reason, the broker gains permanent possession of your item. Nothing else happens, it’s really as simple as that.

5. Complete the terms of the loan

If you do end up repaying your loan in full, the broker will give back your collateral item. From there, you can choose to renew the loan or walk away.

Tips for Pawning in So Cal

What can you expect from a So Cal pawn shop? There are so many choices in So Cal when it comes to pawn shops but few of them are friendly, fair, and easy to work with. It’s worth looking into which businesses are deserving of your time.

Find a Reputable Pawn Shop

Which So Cal pawn shops can you rely on? It’s as easy as pulling up the name of a nearby shop to look at online reviews and star ratings. The more reviews, the better you’ll be able to judge the legitimacy of those reviews.

Collect What You Need

Once you find the item you want to pawn, make sure you gather every single little piece that came with it. Having the original packaging could significantly increase the value of your item as opposed to bringing it in loose.

Check Out California Regulations

So Cal pawn shops need to follow certain regulations set in place by the state. You can take a look at the California Pawnbrokers Association website to get an idea of how pawn shops in California should operate.

What do So Cal Pawn Shops Accept as Collateral?

Depending on the pawn shop, there may be no limit to what a broker will accept as collateral. A few common examples include:

  • Designer watches
  • Jewelry
  • Antiques
  • Trading cards
  • Coins
  • Electronics
  • Power tools
  • And much, much more

The Best Pawn Shop in So Cal

How can you find the best pawn shop in So Cal? Central Mega Pawn already has a large and established customer base due to having the most caring staff, diverse inventory, and fair loan terms. When you get a cash loan from here, you’ll want to come back for more after seeing how simple and easy the process is. Come bring your valuables to 11031 South Central Avenue in Ontario or call ahead of time at (909) 627-9622 for more information.

Do Pawn Shops in Upland Buy Gold Chains at a Good Price?

Do Pawn Shops in Upland Buy Gold Chains at a Good Price?

by | May 24, 2022 | Blog

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 KaratsGold in PartsGold in Percentage
9K9/2437.5%
10K10/2441.7%
12K12/2450%
14K14/2458.3%
18K18/2475%
22K22/2491.7%
24K24/2499.9%↑

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!

Should I Sell My Engagement Ring to a Pawn Shop or Jewelry Store?

Should I Sell My Engagement Ring to a Pawn Shop or Jewelry Store?

by | May 10, 2022 | Blog

If you have an engagement ring from an ex-partner that you no longer want, you can likely turn it into cash very quickly. But where is the best place to sell an engagement ring? Your two main options are a pawn shop or a jewelry store. Here are the pros and cons of selling your engagement ring to a pawn shop, or to a jewelry store.

Pros of Selling Your Engagement Ring to a Pawn Shop

There are several benefits of selling an engagement to a pawn shop. The most obvious benefit is that you’ll probably be able to sell it quickly. With more than 30 million Americans buying, selling, or pawning items at a pawn shop, suffice it to say a lot of jewelry is bought and sold in pawn shops across America. That means that your local pawn shop is likely always looking to replenish their inventory of jewelry.

Another benefit of selling your engagement ring to a pawn shop is that you’ll be supporting a small, often locally owned and operated business, in your own community. Likewise, environmentalists prefer working with pawn shops, as they do not do any mining, or otherwise damage to the environment. Everything in a pawn shop is a resale, and there’s no packaging, or extra carbon emissions from shipping items. Those who are concerned with sustainability and environmental impacts of their purchases often prefer conducting business with pawn shops.

An incredible benefit of selling an engagement ring to a pawn shop is that unlike a jewelry store that is only interested in certain styles, or designs, pawn shops cater to a diverse customer base Pawn shops aren’t particularly concerned with what year your engagement ring was designed. They may be less fussy about the shape or mount of a gemstone.

You can also get a great price for your engagement ring at a pawn shop. Pawn shops generally purchase items for approximately 50% of the value. Moreover, you can often sell it and find another amazing piece of jewelry in the shop to trade for, that doesn’t come with the same proverbial baggage attached, as your engagement ring.

What to Know About Selling Your Engagement Ring to a Jewelry Store

In some cases, you may get a slightly higher price for your engagement ring if you sell it to a jewelry store. But remember that not all jewelry stores will buy your jewelry. You certainly can’t walk into the jewelry store at the mall and try to sell an engagement ring. You’ll have to identify which jewelry stores are currently buying. Then you’ll have to bring in your ring. Then if, and only if your ring matches what they are looking for, they will make you an offer. Pawn shops are much faster and simpler, and buy a much wider variety of engagement rings

How to Get the Most Money for Your Engagement Ring at a Pawn Shop

To get the most money for your engagement ring at a pawn shop, follow these simple steps.

1. Clean the ring

You can use a gentle dish soap and a cloth, or you can likely take it to a jewelry store and have it cleaned. A clean ring will sparkle and shine, which can increase your price.

2. Learn About Your Ring

Be sure you know the karat if your ring is gold. If it has diamonds, research the price of the carat you have online. Spend some time looking up other engagement rings until you find one comparable to yours. Find ballpark pricing and remember that a pawn shop will only pay a percentage of the full retail price.

3. Have Your I.D. With You

California state law requires pawnbrokers to collect identification from those they buy items from. So, don’t head into the pawn shop to sell your engagement ring without your I.D.

4. Bring the Box

If you still have the box your ring came in, bring the ring in the box. This helps to present it more attractively to the broker.

5. Bring any Appraisals

If you’ve had your engagement ring appraised, bring that paperwork with you when you come to the pawnshop. If you happen to have the receipt for it, bring that as well.

6. Check the Current Price of Gold, Silver, or Platinum

You’ll be a more educated seller if you know an approximate value of precious metals. You can check the current price of gold, silver, or platinum online anytime.

7. Don’t Shy Away from Negotiations

If there is anywhere that going back and forth is accepted, it is at the pawn shop. In fact, pawn shops welcome negotiations. When you get an initial offer, don’t be afraid to ask the employee how they arrived at the figure they offered. Allow them to make their case, then make your case for why they should pay you more. Most times you’ll meet somewhere in the middle.

8. Do Not Act Desperate

Even if you can’t wait to get an engagement ring out of your life, don’t let the pawn shop know that. Instead, keep a cool head, and use the knowledge you’ve learned about your ring to make good decisions, and be a strong negotiator.

9. Be Willing to Walk Away

If you can’t reach an agreement on price, be willing to walk away. It is not uncommon for customers to refuse an offer, and prepare to leave, only to get the price they wanted just minutes before walking out the door. If you cannot reach an agreement, be willing to walk away.

Sell Your Engagement Ring in Ontario, Upland, and Pomona

If you’re interested in selling your engagement ring for instant cash, visit Central Mega Pawn in Ontario first. As the Inland Empire’s fastest growing pawn shop, we have more than 1300 positive reviews on Google, and maintain a 4.9-star rating. In addition to engagement rings, we buy and sell necklaces, bracelets, luxury watches, earrings, anklets, and much more. and incredible

Our experienced pawn brokers have decades of experience in valuing items, purchasing items, and providing pawn loans. We proudly serve the communities of Ontario, Pomona, Upland, and surrounding areas in the Inland Empire, 7 days a week. Central Mega Pawn is located at 11031 Central Avenue in Ontario.

Do Pawn Shops Buy Scrap Silver?

Do Pawn Shops Buy Scrap Silver?

by | Apr 23, 2022 | Blog

Pawn shops don’t abide by a one-size-fits-all approach to items that they will buy from customers. So if you’re wondering: “do pawn shops buy scrap silver?” the answer is, maybe. At Central Mega Pawn in Ontario, we buy scrap silver, but can’t speak for other pawn shops. Here’s everything to know about selling scrap silver to our shop.

What is Scrap Silver?

Scrap silver, also known as scrap bullion, is an informal term referring to any silver items that are only worth the value of the silver it contains. For example, a dulled, broken silver necklace is considered scrap silver. So is a single, silver fork that doesn’t match any other silverware you have. Scrap silver may include brooches, watches, jewelry, pins, medals, plaques, and much more.

Therefore, you may already have scrap silver in your home that you could turn into cash by selling it a pawn shop. Likewise, if you’re interested in trying to turn a profit, you can sometimes find scrap silver at garage sales, estate sales, or flea markets.

What is Scrap Silver Worth?

Scrap silver’s value will depend upon the current prices of silver. It also depends upon the purity and weight of the silver. In general, you need silver that is almost pure. Therefore you’ll need to find silver that is stamped with either “.950,” “.925,” or “sterling.” Unfortunately, silver-plated items won’t likely get you an offer at a pawn shop.

The purity of silver plays a major factor in the value of scrap silver you may have at your home. The purest form of silver is 99.9% pure and is represented as .999. However, 99.9% pure silver is too unstable for jewelry and flatware. That’s why in the USA, sterling silver, which is 92.5% silver is the standard. Most silver coins are less pure, typically 80-90% pure.

If you don’t see an imprint, or stamp on certain items, you can always purchase a silver testing kit. These are often sold at craft stores, or you can find one on Amazon, often for less than $20.

Though far from perfect, there are some online calculators that you can use to estimate what your scrap silver may be worth. However, it’s important to note that you’ll need to also know the weight of the item, and the current price for scrap silver. It’s probably easier to just bring it to a pawn shop once you’ve tested and confirmed that it is silver.

Selling Scrap Silver to a Pawn Shop

Pawn shops that buy scrap silver will be able to make you an offer based on the current value of the precious metal. The value of silver and gold tend to go up during times of economic uncertainty, or global unrest. This is because these precious metals are not impacted by the changing value of a dollar, so they become more valuable during economic downturns. Indeed, investors often turn to precious metals such as silver and gold, to diversify holdings during slowing economies.

Before you take your scrap silver to a pawn shop, you may want to wipe it down so that the purity imprint is visible but avoid polishing it. It’s just not necessary. You may also want to divide your scrap, into coins, flatware, collectibles or other. Pay particular attention to silver coins, as you can often find highly valuable coins and not know it, and you’ll want to make sure you get your money’s worth for it.

You’ll be in the best position to get the most money for your silver scrap, if you’ve read up on current prices, and know the total weight of the silver scrap you want to sell.

Why Sell Silver Scrap to a Pawn Shop?

Pawn shops offer convenience. Instead of tracking down a buyer online or on eBay, you can simply walk into a pawn shop (some of which are open seven days a week) with your silver. There’s no need to ship or insure anything. At a pawn shop you can also walk away easily and won’t be badgered with emails and phone calls trying to get you to reconsider.

Reputable pawnbrokers will examine and weigh the silver in front of you before making you an offer. You may also be able to negotiate for a better price at a pawn shop. If you’re trying to sell scrap silver online, this may be more difficult, as the buyer can’t see the scrap. Generally, speaking pawnshops offer prices similar to what you could expect to be offered if you took silver coins to a coin shop. But pawn shops are easier to find than coin shops these days.

Finally, consider that pawnshops may offer you more than you knew the silver was worth. Unless you’re an expert, trying to calculate the value of your scrap silver is risky at best. So even if you think you know what it is worth, be sure to let the pawn shop make you an offer first. It may turn out that you were going to ask for $100, but they offer you $175.

Sell Silver in the San Gabriel Valley

If you have silver you’d like to sell, including silver coins, silver jewelry, silver bars, silver utensils or scrap silver, Central Mega Pawn would like to make you an offer. As a longstanding, locally owned and operated pawn shop in Ontario, we’ve served the communities of Upland, Ontario, and Pomona for more than a decade. In addition to buying your silver, we also make pawn loans on silver, if you need a temporary loan to get you through a lean financial period.

We also buy and lend on gold bars, gold jewelry, gold coins, gold nuggets, and gold flake.

We’d love the opportunity to show you why Central Mega Pawn is the Inland Empire’s fastest growing pawn shop. We invite you to bring unwanted silver scrap, antiques, jewelry, sporting equipment, tools, instruments into our shop for our best offer. Central Mega Pawn is open seven days a week from 9:30 am – 6:00 pm. In the meantime, be sure to follow us on Facebook.