Scrap Gold Price at a Pawn Shop Today
Curious to know the scrap gold price at a pawn shop today? The chart above is updated daily and displays the average price paid by pawn shops for 24K gold, based on the current gold market spot price. We also show how much our company, The Alloy Market, pays for gold.
You can use the table below to locate the offer price for one gram of gold with different karats. Offers differ because different karats contain varying percentages of gold. 24 karat gold is pure gold, while other gold karats are mixed with different metals.
Scrap Gold Payout Comparison by Karat
| Karat | Spot Price (per gram) | Pawn Shop Offer | Alloy Market Offer |
|---|
Our Methodology
Where do the average scrap gold prices at a pawn shop come from? While pawn shops typically don’t disclose payout percentages, we scoured the web and found publicly available sources to calculate the average scrap gold prices that pawn shops offer.
Understanding pawn shop payouts: why scrap gold gets less
Based on our research, the average payout from pawn shops is approximately 43% of the gold spot price. Published payout ranges, as listed below, were used to determine the average pawn shop offer displayed in our calculators and tools.
Pawn Shop Gold Payouts by Source
| Source | Percent Paid Range | Average Paid | Quote |
|---|---|---|---|
| Clark Pawners | 25%+ | 25% | “Pawn shops will pay anywhere from 25% and up of its determined value or worth.” |
| Pawn America | 25-60% | 42.50% | “Most of these shops will pay around 25-60% of the value of your item.” |
| Memphis Cash For Gold | 20-70% | 45% | “On average, our customers say pawn shops offer to pay anywhere from 20%-70%.” |
| Rockland Times | 50% | 50% | “Pawnshops pay on average about 50% of the going market rate for gold.” |
| US Pawn | 40-70% | 55% | “Pawnshops often pay between 40 and 70% of the item’s true worth.” |
| Diamonds Pro | 50% | 50.00% | “50 percent of the gold’s scrap price is a common amount.” |
| Kiplinger | 20%+ | 20.00% | “Pawn shops may pay just 20%.” |
| Money.com | 50-62% | 56.00% | “Most pawnshops try to maintain a 38–50 percent profit margin.” |
Pawn Shop Gold Payouts by Source
How much do pawn shops pay for gold?
While the percentages paid by pawn shops are not often widely discussed, our sources indicate that the range of payouts you should expect from a pawn shop is anywhere from 20 to 56%.
One pawn shop employee said they offer as low as 25% of the spot price to someone selling a few grams of gold. Some pawn shops do offer up to 90% or more of the spot price of gold, but it is not common.
When selling gold to a pawn shop, you can expect an average payout of around 40% of the current gold spot price.
Are there better options for selling gold instead of using a pawn shop?
Who you should sell your gold to is a personal decision. At times, selling to a pawn shop can be a sensible option. You may need money right away and can’t wait to shop for quotes or consider an online buyer. We often trade one benefit for another; in this case, choosing a pawn shop means trading a higher payout for immediate cash.
If you want to sell locally because you need cash fast, consider the following options that could potentially offer more than a pawn shop:
- Coin buyer: If you have gold coins to sell, a coin buyer will typically offer more than a pawn shop, as they specialize in buying gold coins
- Cash for gold shop: Some cash for gold stores offer more than pawn shops, but look for buyers with good reviews, as some local cash for gold buyers may make low offers similar to those of pawn shops.
- Jewelry stores: Some local jewelry stores also buy back jewelry and can sometimes offer more than local pawn shops.
- Peer-to-peer online: If you want to get the most for your item and don’t mind dealing with the hassles of selling to another individual online, then platforms like eBay and Etsy can be a good way to get more than the spot price for your valuables.
If time isn’t a significant factor, you’re likely to get the most for your scrap gold by choosing an online buyer like The Alloy Market. With the highest payout guarantee and a process trusted by thousands, you can feel confident every step of the way.
Why Alloy
The Alloy Market prides itself on a transparent and honest process, with the highest payouts guaranteed. From the start, by using our gold value calculators, you’ll know precisely what our minimum offer is for your item, with no ambiguity.
When you order your free appraisal kit, you receive everything you need for a smooth transaction, with no obligation to sell. Ever. Shipping is free and insured for up to $100,000 and even includes tracking.
You’ll be assigned your own, personal advisor who is available by text, email, or chat. Alloy is always here to answer any questions you may have along the way. For a more detailed explanation of the process, refer to our guide on how it works.
How To Get The Most For Your Items
Whether you choose to sell locally or online, becoming educated on the worth of your valuables can go a long way in securing a fair price. This way, you know if the offer that you are getting is honest.
Keep in mind that most precious metal buyers do not purchase valuables for more than the spot price. If you are seeking to sell for more than the spot price, you typically have to sell your items peer-to-peer on platforms like eBay or Etsy.
Precious metal buyers will pay a percentage of the spot price of the metals that you are looking to sell. You can use our gold calculator linked below to make the process of estimating your valuables easier, or follow the instructions below to calculate the value manually.
Calculate Your Gold’s Value
To calculate your gold’s value, you need to know three things: its purity, weight, and the current spot price of gold. These numbers work together to give you the current market value. Keep in mind, you should never expect to receive the full market value when selling your gold.
Purity
Karats (K) are the standard notation used to indicate the purity of gold. This table displays standard karat markings and their corresponding purity levels. Can’t determine the karat of your gold? Alloy has an article that can help you determine if your gold is real and its purity level.
If you can locate a hallmark stamp on your item, this table will tell you its purity.
Gold Karat Marking Guide
| Karat | Millesimal Fineness | Gold Purity (%) |
|---|---|---|
| 24K | 999 or 999.9 | 99.9% |
| 22K | 916 | 91.6% |
| 21K | 875 | 87.5% |
| 18K | 750 | 75.0% |
| 14K | 583 | 58.3% |
| 10K | 417 | 41.7% |
| 9K | 375 | 37.5% |
| 8K | 333 | 33.3% |
Weight
Weighing your gold is an essential step in determining its value. It is best to weigh your gold on a scale that can measure in small increments, such as grams. For a more detailed instruction, you can read up on how to weigh gold on our blog.
The most important thing to remember when calculating your gold value is to use the same unit of measure. Your spot price and weight should both be expressed in the same unit of weight.
Spot price
The spot price of gold refers to the market value of 24K (99.9% pure) gold. Financial markets typically quote the spot price per ounce.
As mentioned above, use the same unit of measure to calculate your value. When calculating your weight in grams, you should also use the spot price of gold in grams. A simple Google search for “current gold spot price in grams” will provide the correct number.
How to calculate your gold’s value
Now that you know the purity, weight, and spot price of gold, you are ready to do some simple math. Here is the formula you will need. We will use grams in this example:
(Spot Price per Gram) × (Purity) × (Weight in Grams) = Gold Price
Spot price = $107.28
Karat = 14K (58.3%)
Weight = 10 grams
→ $107.28 × 0.583 × 10 = $625.52
As you can see from this example, the market value for this item is $625.52. However, when selling this item, you should expect a lower payout as discussed earlier.
Use our free scrap gold calculator
If you don’t want to do the math yourself, we’ve created a simple and free instant gold value calculator for your use. Enter the required weight and purity, and you will get an instant read below.
Pawn Shop Gold Calculator
Current Market Value:
$0.00
Average Pawn Shop Offer:
$0.00
Alloy’s Minimum Offer:
$0.00
Additional FAQ’s
Scrap Gold Items You Can Sell
Not sure if we accept your item? Get in touch!
Sell Dental Scrap!
We Also Buy Scrap Dental Gold
Selling scrap dental can be a lucrative way to make extra cash, as it often contains a high percentage of gold.
If you have old dental gold lying around, consider selling it to the Alloy Market. You’ll get a guaranteed best price offer.
Getting An Estimate For Your Scrap Gold Is As Easy As 1, 2, 3!
Getting An Estimate For Your
Scrap Gold Is As Easy As
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