Best Place to Sell Gold in San Francisco
MAXFERD JEWELRY & LOAN
Do you need cash urgently to cover an unforeseen expense? Or perhaps you want to buy something you need or want without increasing your credit card debt or blowing your budget?
There is no better way to get cash in a hurry than by selling or pawning your valuables, such as gold jewelry or gold coins. And our San Francisco pawn shop is the best place to sell gold in San Francisco.
Why Maxferd is the Best Place to Sell Gold in San Francisco
Some of the reasons why Maxferd San Francisco is the best place to sell your gold include:
- Solid track record – We have been in business since 1884, making us the oldest continually operated pawn shop in not only San Francisco but the entire continental United States.
- Excellent reputation – Maxferd San Francisco has been called “the Tiffany of pawn shops” which is an eloquent testimony of our reputation.
- Expert in-house jewelers – Our jewelers have the knowledge, experience and expertise to conduct accurate jewelry evaluations.
- We accept all gold jewelry (even broken jewelry) – Do you have broken or damaged jewelry? No problem! At Maxferd San Francisco, we accept all gold jewelry, regardless of condition.
- Fair prices – We know how to determine the correct market value of your gold. And although we can’t pay you market value (we also need to make money), we don’t take advantage of our customers and will make you a fair offer.
- Friendly, professional customer service – At Maxferd, we understand that selling your gold isn’t always an easy decision. We respect your privacy and our friendly staff stand ready to assist you.
Selling Your Gold at Maxferd San Francisco
Selling your gold to us and getting paid is a fast and easy 4-step process.
Step 1: Come in for a quick over the counter evaluation of your gold.
Step 2: Receive your verbal over the counter offer in minutes.
Step 3: Provide valid identification, i.e. driver’s license, ID card, or passport.
Step 4: Collect your cash.
Selling your gold has never been easier!
Determining the Value of Your Gold
Many people are unsure how pawn shops determine value, such as for gold jewelry. At Maxferd, we believe in being open and transparent with our customers.
Pure 24K (Karat) gold is traded in dollars per ounce, and there are 28.3495 grams in an ounce.
Jewelry is very seldom made from pure 24K gold. Elements such as copper are typically added to it to give it strength. About 90% of wedding rings in the United States contain 14K gold. It’s only 58.3% pure gold.
Let’s assume the gold price per gram is $60 for 24K gold. For 14K it will be $34.98/g. That means if your ring, excluding diamonds or other stones, weighs 5g its gold content is worth $174.90. But that doesn’t mean a pawn shop can pay you $174.90 for your gold ring.
First of all, pawn shops also need to make money. Secondly, buying gold jewelry poses several risks for pawn shops. Jewelry can take a long time to sell, and the price of gold can drop at any moment.
In order to mitigate the risks, pawn shops and gold dealers will often send jewelry to be melted down, and factor those costs into their offer. A smelter typically charges up to 30% of the gold value to melt and purify the gold for further use.
Note that not all items made from gold are evaluated only based on the price of gold and gold content.
For example, rare or collectible gold coins can be worth a lot more. The same applies to the provenance or history of gold jewelry – a ring that belonged to Jacky Kennedy will be worth a lot more than an identical ring that belonged to an unknown person. But a standard gold wedding band typically has no value beyond its gold content.
That’s a Wrap
We trust that after reading this article, you now have a better understanding of why our San Francisco pawn shop is the right place to sell your gold in San Francisco.
Last but not least, if you need money but don’t really want to sell your gold, you can borrow money using your gold as collateral. Getting a pawn shop loan is a smart idea if you are not ready to part ways with your gold.