Gold prices have soared to historic highs in recent months (upwards of $2,186 per ounce as of March 2024), driven by things like economic uncertainty, fears of inflation, and ongoing geopolitical tensions. The value of gold is at the HIGHEST it has been for as far back as we can remember (we’re talking as far back as the 1970s)! While gold is without a doubt a hot commodity right now, you’re probably wondering: How does record-high gold prices impact me? If I sell gold now, will I get more money out of it? Can I make money selling broken gold jewelry or scrap gold? Is now a good time to purchase gold jewelry? What happens if the price of gold goes back down?
We understand you probably have a ton of questions about the impact of high gold prices, and that is exactly why we wrote this blog. Keep reading to get the answers to all of your gold-selling questions and learn more about how you can end up with a ton of cash thanks to this modern-day gold rush!
Get the Most Cash for Your Gold Now 💰
With gold prices at an all-time high, now may be the time to consider selling any unwanted or unnecessary gold you may have laying around. Selling or pawning your gold while prices are peaking could be a profitable move for anyone looking for a fast and easy way to cash in on their assets. Regardless of what karat your gold jewelry is (10k, 14k, 18k, 22k, 24k, etc.), rest assured that its value is the highest it has been in decades. If you’re still on the fence about parting ways with your gold assets during these record-breaking gold prices, here are a few things to consider:
Whether you’re looking to pawn (aka borrow money for the item) or sell the gold outright, doing so while the spot price (aka market price) is high means that you will be getting more money for the item(s). Yes, this means that pawnshops like Jum-Pawn-It will be able to lend you more money against the gold items you bring in, but more on that a little later.
Sell Gold and Get Cash Instantly
Whether you need money for unexpected emergency expenses (like home or car repairs, medicine/medical care, pet/vet bills, legal issues, etc.), funding your next side hustle or investment opportunity, or simply want to splurge on something fun (like a family trip to Disneyland, a romantic cruise, or whatever else), selling or pawning your gold jewelry can help turn your assets into cash fast, without any lengthy approval processes or credit checks. Whatever your financial needs may be, having the option and ability to sell gold is a tried and true method of getting the cash you need, when you need it.
Jum-Pawn-It currently has four locations you can visit in southern California and Arizona.
Get Cash for Gold: Sell vs. Pawn
Did you know you have a few options to get cash for your gold? Selling gold is a popular option for those looking to get rid of some unwanted gold jewelry they no longer want or wear. If you decide to sell gold, the amount you receive will be based on the current market value of gold and the weight of your item(s). When you sell gold to a pawnshop like Jum-Pawn-It, you’ll get paid cash INSTANTLY. Best of all, you won’t have to worry about all the headaches associated with being a seller — which can be a hassle online (writing product descriptions, taking photos, finding a buyer, honoring a return policy, etc.) and even worse in person (awkward and possibly dangerous meetups, scams, etc.).
Need Cash But Want to Keep Your Gold?
High gold prices aren’t only beneficial to those looking to sell their jewelry. In fact, with gold prices going through the roof, you can use gold jewelry to borrow more money than ever before. If that sounds like your situation, you may want to look into pawning (aka getting a collateral loan for) your jewelry. Pawning, or borrowing money in exchange for a pawnshop holding an item of value, is something to consider for those who do not want to part ways with their gold jewelry / valuables but need a little extra cash to hold them over until the next payday. Visit JumPawnIt.com/Pawn to learn all about the simple and seamless process of pawning your gold jewelry.
Make Money on Broken Jewelry and Scrap Gold
Do you have some gold jewelry with a bit of wear and tear that you haven’t worn in years, or even broken gold jewelry you previously thought was worthless? Well, we have good news for you! Broken gold jewelry and even any scrap gold you may have laying around could still fetch you a good amount of cash. Obviously, these types of items may not sell well at big retail chains or even in certain secondary marketplaces, but places like Jum-Pawn-It Jewelry and Loan would be happy to appraise the item(s) and pay top dollar for your broken jewelry and/or scrap gold!
How to Test and Appraise Your Gold for FREE
If you’re ever unsure about what you may have, pawnshops like Jum-Pawn-It Jewelry and Loan have experienced staff that will gladly test and appraise your gold piece(s) FREE of charge. Don’t let your broken and unwanted jewelry collect dust when you could make some easy money selling it. You could be sitting on a literal gold mine at home!
How to Save Big Buying Gold Jewelry
You may have noticed the price of gold jewelry rising at retail locations like malls and big box jewelry stores. Lucky for you, there are still some shops out there offering great deals on jewelry. Jum-Pawn-It Jewelry and Loan offers great prices daily and even has special deals to help you save even more. For example, Jum-Pawn-It Jewelry and Loan currently has a promotion that offers customers 60% OFF Jewelry (some exclusions apply) with any loan renewal. Visit us today to check out our unique collection of genuine gold, silver, and diamond jewelry at unbeatable prices!
Not visiting California or Arizona any time soon?
Check our eBay store to see if we have any gold offerings available and shop with us online!
What if the Price of Gold Goes Down?
When the price of gold drops, the value of the gold pieces you own will unfortunately decrease as well (which means you’ll make less money if you sell gold during a low point). As the old saying goes, “buy low, sell high.” That’s why we’re letting you know about this fantastic opportunity to cash in and sell gold now while the market value is high! Not to worry though, even if gold prices dip, Jum-Pawn-It Jewelry and Loan will always give you a fair deal based on what’s happening in the market. (You just might not get as much money for your gold as you would during this current peak!)
Ready to Sell Some Gold?
Let’s face it, most of us have a stash of jewelry that we’ve stopped wearing and is now just gathering dust. Selling or pawning your unwanted gold jewelry will not only get you some cash; it’ll also help you declutter and make room for the things that truly spark joy in your life. It’s a win-win for your space, your pockets, and your peace of mind.
With gold prices soaring, now may be the time to pawn or sell gold in order to maximize your profits. Whether you’re looking to ride the wave of high market value, score some quick cash for your hustles, or simply declutter your space, selling or pawning your gold jewelry is a simple and reliable way to instantly turn your assets into cash. To sell gold or get a FREE appraisal, visit our team of professionals at Jum-Pawn-It Jewelry and Loan. We have four pawnshops across southern California and Arizona ready to serve you.
Visit JumPawnIt.com/Locations to find a location near you or give us a call at (833) JUM-PAWN.
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