It was only a couple of years ago when ‘gold for cash’ was a raging trend in the Western hemisphere. With gold prices going through the roof, and the financial crisis creating great damage for quite some households, many people found their way to gold shops in order to exchange their jewelry for cash.
That trend started to fade when gold prices came down, and central banks globally intervened in financial markets with a flood of liquidity.
Meantime, the ‘gold for cash’ phenomenon is not very visible anymore in the streets. Online, however, there are still quite some places where individuals can sell their gold and silver bars / jewelry.
A common place to offer an individual’s precious metals is a marketplace, as there are many to be found on eBay, the largest marketplace worldwide. However, with the advance of the internet, products and services can be offered across many stores in search for the most competitive bid.
Another way to offer your metal or jewelry is through a pawn shop. As explained by Wikipedia, a pawn shop offers secured loans to people, with items of personal property used as collateral. The word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral.
It becomes even more interesting when looking across pawn shops for the most competitive bid. One of the players offering such a service is www.pawns.com who helps find the most convenient pawn shop offering the most money for your metal.
With gold and silver making a long term bottom, we believe prices will start rising from here. Whether they will reach their all-time highs remains to be seen, but as soon as precious metals prices are on the rise again, we expect gold and silver through pawn shops to gain in popularity.
First published here: http://goldsilverworlds.com/physical-market/gold-for-cash-through-a-pawn-shop/