Tips for Deciding Between Pawn Shops and Mail-In Selling
Mar 21, 2023
{
"Title": "Should You Sell Precious Metals to a Pawn Shop or Through Secure Mail-In Services?",
"Date": "03/21/23",
"Content": "
Practical Guidance for Selling Gold, Silver, and Other Precious Metals
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Many people discover old jewelry, broken chains, sterling silver flatware, or even dental gold and wonder how best to sell it. Two of the most common options are walking into a local pawn shop or using a secure mail-in buying service. Both have advantages and drawbacks, and the choice depends on your comfort with convenience, transparency, and documentation.
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Understanding the Basics: What You Might Sell
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Before choosing a selling method, it is helpful to know what you have. Precious metal items generally fall into a few categories:
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Gold Jewelry: Rings, chains, earrings, often marked with karat stamps such as 10K, 14K, 18K, 22K, or 24K.
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Dental Gold: Often 14K to 18K alloys used in crowns or bridges; may include porcelain or steel attachments that need to be separated.
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Silver Jewelry & Flatware: Items marked \"925\" or \"STERLING\" indicate sterling silver; beware of plated markings like \"EPNS\" (electroplated nickel silver).
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Gold & Silver Coins: U.S. and world coins contain varying amounts of precious metal; the U.S. Mint coin specification chart is a reliable reference.
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How to Confirm What You Have
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Accurate identification is the first step:
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Look for Hallmarks: Small stamps inside rings or on clasps. Gold is often marked 10K, 14K, etc. Sterling silver is marked 925 or STERLING.
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Try a Magnet Test: Precious metals are not magnetic, but this test alone is not conclusive because many base metals are also non-magnetic.
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Consider Testing: An accurate gram scale, acid test kits, or an electronic gold tester can help confirm purity. Professional buyers will also test your items, often with multiple methods.
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Pawn Shops: What to Expect
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Pawn shops provide instant cash, but the process has characteristics to note:
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Immediate Offers: Bring your items in person and get an offer on the spot.
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Price Considerations: Offers may reflect quick resale rather than melt value. Retail overhead can reduce payouts compared to the intrinsic value of your gold or silver.
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Transparency: Testing is usually done in front of you, but documentation of test results and purity levels may be minimal.
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Record Keeping: You may leave with cash, but often without detailed paperwork except a receipt.
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Mail-In Selling: How It Works
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Mail-in services provide a way to sell from home, using insured shipping kits. While processes vary, buyers such as International Gold & Silver use a structured approach:
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Request a Kit: Receive a tracked and insured mailer with clear packing instructions.
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Prepare Items: Sort by karat or type, place small items in bags, and include dental gold carefully separated from porcelain or steel.
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Ship Securely: Seal the package, use the provided shipping label, and drop off at a postal location. You can insure valuable shipments and track them online.
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Testing & Offer: Once received, items are weighed and tested with clear results documented. Expect detailed breakdowns of karat, grams, and payout amount.
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Payment: Choose from secure methods such as PayPal, Venmo, Zelle, Cash App, direct bank transfer (ACH), or mailed check.
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Benefits of the Mail-In Approach
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Documentation: A record is created with your inventory, test results, and payment receipt—helpful for trust and future reference.
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Safety: Packages are tracked and insured. Chain of custody is maintained from shipping through processing.
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Flexibility: Multiple payment options provide choice between speed and convenience. For example, digital apps often pay the same day, while checks suit those who prefer physical records.
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Value Factors: What Impacts Your Payout
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No matter which method you use, these factors affect price:
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Factor | Explanation |
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Karat or Purity | 24K is pure gold; 10K contains less gold. Higher purity pays more per gram. |
Weight (in grams) | Weigh items carefully without stones or clasps. Buyers calculate based on weight of actual gold/silver content. |
Melt vs Resale Value | Some coins or jewelry carry collectible premiums above melt, but many broken pieces are valued only at metal content. |
Condition & Attachments | Non-precious stones, clasps, or porcelain reduce net weight. Safely separate when possible. |
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Practical Steps Before Selling
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Photograph items and keep notes of what you are sending.
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Record weights in grams for your own reference.
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Keep very small pieces (e.g., broken clasps) in sealed bags to avoid loss.
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Consider using organizational tools like GavelBase for record-keeping.
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FAQs
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How do I know if my gold is real?
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Look for karat stamps, use a magnet test, and compare weight. Trusted buyers will also perform acid or electronic tests.
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Is dental gold valuable?
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Yes. Dental alloys are often 14K–18K. Be sure to separate porcelain and steel parts. Even small amounts can be worth selling.
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What if my silver says \"plated\"?
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Electroplated or rolled silver plate contains very little silver and has little melt value. Sterling silver (925) is what buyers want.
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How safe is mailing gold?
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When you use insured and trackable services (e.g., USPS Registered Mail), it is secure. Always photograph and document contents before shipping.
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When do I get paid?
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Pawn shops pay immediately in cash. Mail-in services pay after testing, often within 24–48 hours, by your chosen method.
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Deciding Between Pawn Shops and Mail-In Services
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If you want instant cash and prefer face-to-face transactions, pawn shops are straightforward. If you value detailed testing records, transparent documentation, insurance for shipments, and flexible payment methods, a mail-in service provides more control. Consider how much you are selling, your need for immediate cash, and your desire for a verifiable record before deciding.
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Checklist Before You Sell
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✔ Identify karat, hallmarks, or silver marks.
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✔ Weigh in grams on an accurate scale.
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✔ Sort items by type (gold, silver, dental).
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✔ Remove non-metal parts when safe.
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✔ Take photos and notes of all items.
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✔ Decide: local pawn shop (cash now) or mail-in (record, insurance, clear testing).
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Selling gold, silver,