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How much do pawn shops pay for gold?

Usually 35–60% of the gold’s melt value. Below is what that means per gram today, next to what mail-in refiners pay for the same gold.

Prices updated October 5, 2026 · gold $4,135.61/oz · silver $61.08/oz

KaratPawn shop /gBest mail-in /gDifference on 10 g
10K$19.41–33.27$49.90 · Express Gold Cash+$236
14K$27.22–46.67$70.00 · Express Gold Cash+$331
18K$34.90–59.83$89.75 · Express Gold Cash+$424
22K$42.66–73.13$109.70 · Express Gold Cash+$518
24K$46.49–79.70$126.31 · reDollar+$632

What real tests found

  1. NYC Department of Consumer Affairs · 2011

    Three pieces appraised at $590 got undercover offers from $175 to $450. Three in four gold buyers broke local rules, such as weighing mixed karats together.

    Source: News 12 ↗

  2. PawnNerd (pawn industry channel) · 2015

    “It’s not uncommon for a pawnbroker to pay roughly 40 to 60 percent of the market value of the item.”

    Source: YouTube, 3:41 ↗

  3. Seller on YouTube · 2023

    Two 14K bracelets, just under 3 grams: two pawn shops offered $90, a third $30 (about $11 per gram); a mail-in buyer paid $100.

    Source: YouTube, 2:03–4:14 ↗
All gold buyer tests →

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Why pawn shops pay less

A pawn shop pays cash on the spot, tests your gold itself and sells it on to a refiner. Each step costs money, and the shop has to cover rent and risk. That margin comes out of your price.

Shops also price for negotiation. The first number is rarely the highest number they’ll pay.

How to get a better pawn offer

Know your piece’s melt value before you walk in, and ask the shop to weigh it in front of you in grams. Pennyweight (dwt) scales show smaller numbers; 1 dwt is about 1.56 grams.

Ask for the top of their range, about 60% of melt. If they won’t move, a mail-in refiner usually pays far more and pays within a few days.

Questions

Do pawn shops pay spot price for gold?+

No. Spot price is for pure gold, and pawn shops pay a share of the melt value of your karat, typically 35–60%.

Is it better to pawn or sell gold?+

Pawning is a loan: you get less, but you can get the piece back. Selling pays more, and you can compare offers first.

How much will a pawn shop give me for a 14K chain?+

Weigh it, then use the 14K row above: multiply the per-gram pawn range by the weight.

Related

Melt value uses the GoldAPI market price. Buyer figures come from what each buyer publishes; pawn and jeweler ranges are typical, not quotes. How we calculate