Of course, you can pawn gold at a pawn shop, but many people hesitate to do so because they don’t want to sell their gold items. If you need some cash and have valuable gold items such as gold bars, gold coins or gold jewelry at home, you can temporarily exchange your gold for a cash loan.
What is a Gold Loan?
A gold loan is a secured loan, which means you are borrowing money in exchange for something of value as collateral – in this case, your gold. You bring in gold, and we give you the cash you need. After paying back the money you borrowed plus the interest as specified the loan terms, you receive your gold back. You can be sure that as long as you do not default on your loan, the gold you use as collateral is kept safe.
How Much is Gold Worth?
How much money you can get for your gold will depend on how much you have and its value. The value of gold is based on its quality, type and, purity. Often, gold items will have a stamp indicating the percentage of gold versus other metals used to make the piece. For a clue about how valuable your gold is, look for a stamp indicating 18k, 22k or 24k. A karat is a measurement of purity. A piece of gold jewelry that is 24k is 100% gold, while 22k is 91% gold and 18k is 75% gold. When you are seeking a loan on your gold, an acid test (which does no harm to your gold piece) may be used to definitively determine the exact purity of the metal.
Once we have determined the type and purity of your gold, we can offer a loan based on the current value of gold on the worldwide market, which fluctuates daily. Gold has been valued at over $1000 per ounce for the last 10 years.
Borrow Cash on Gold in Avondale, AZ
Simply bring your gold to West Valley Pawn & Gold and let our experts take care of the process. First, we will assess the value of the gold you bring in. Then we will make you a loan offer based on the value and amount of gold you have. After agreeing to the terms of the loan and providing a few signatures, you will walk away with money. At West Valley Pawn & Gold we pride ourselves on paying more for gold than any other buyer or loan provider in West Phoenix. Contact us to learn more about gold loans and how you can quickly and easily turn your gold into a more liquid asset.