Gold, silver, platinum, Rhodium and Palladium are called precious metals. There is only a finite amount of these metals that can be mined. The good news is that these metals can be recycled. Gold jewellery can be melted and refined to make new gold products. Their worth is determined by their purity and their weight.
Let’s look at gold, the most popular metal on earth. Pawnbrokers love gold whether it is in the form of jewellery, ornaments, coins or bars. Why do people love? Chemically, gold is not an interesting metal. It isn’t rare but out of the 118 elements we have on the periodic table, it is the one metal we love enough to consider as currency.
Gold is so scarce that if we combined every earring, necklace, coin or bars, gold fillings and every trace of gold in electronic devices and melted all of it down you would get approximately 20-metre cube of gold. Besides scarcity or market stability, hold is gold and human being have always been attracted to shiny things, like m magpies. Gold is more than shiny, it is beautiful and the world’s best designed jewellery pieces are created using gold.
The price of gold can fluctuate wildly; it can swing from one extreme to the next depending on the supply and demand. The price has risen from $260 in 2001 and peaked at $1,921.15 in September 2011, before falling back to $1,230 currently. There are other factors that affect the price of gold on the market. Gold is always welcome at Pawnbrokers Melbourne because despite its dips and rises, gold really never loses its value. The strategy is that when gold prices dip, the metal doesn’t really lose value. Pawnbrokers keep an eye on the gold industry and will hold on to the gold they amass until the conditions and the price are favourable. They can hold on to the gold until the price gold picks up.
Pawnbrokers will buy gold jewellery to resell. A lot of people find pawn shop prices cheaper. So, if you want to get someone an engagement ring or give the gift of jewellery but you don’t’ have the right amount of money. You don’t have to rob a bank to get the kind of jewellery you loved one will appreciate as a gift, of gold because it is a gift that keeps on giving. The metal is liquid, meaning you can liquidate the gold turning into cash whenever you need to.
Pawn shops are a perfect place to offload those unwanted gifts that yourself received. For instance, the gold jewellery that your ex-boyfriend gave you may invoke painful memories you would rather forget. Don’t toss it down the toilet out of anger, sell it to Pawnbrokers Melbourne and get cash to do something special for yourself. The same can be said about rings for engagements of marriages that didn’t quite work. Sell that to a pawnbroker and get the cash for something else.
As previously mentioned, pawnbrokers love gold and when the markets are in gold’s favor as they have been since the Corona virus pandemic the gold trade goes into overdrive. They will buy gold that is in good condition and gold that is damaged. They can sell the former in store and sell the latter to refineries to be melted and refined into new products. If you need cash and you have gold lying around, there is a pawnbroker out there who will give you the best price for your precious metal.