What You Need to Know Before You Sell Silver in Los Angeles

by | Mar 1, 2014 | Pawn Shop

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Pawn shops have seen a surge of popularity lately with so many different reality shows being taped in various pawn shops, showing odd and valuable items being sold from all over. Although you may see a lot of odd transactions on TV, pawn shops spend the majority of their time dealing with average people and average transactions that would be way too boring for TV. Click here for more information.

One of the things that most pawn shops do a lot of is buying and selling precious metals such as gold and silver. If you are trying to Sell Silver in Los Angeles, consider going to pawn shop, where you can get cash on the spot for your old silver items.

Here are a few tips to help you have a positive experience.

Know the value of what you have

Some items, such as rare silver coins or antique jewelry or collectibles might possibly have more value than just for scrap, so you might want to get more than one opinion on items that might have resale value.

Don’t try to improve items by altering them

You also don’t want to waste any money getting jewelry items repaired before you sell them. When you Sell Silver in Los Angeles most of the items will just be melted down and reused so it is a waste of time and money to do so. If the jewelry item does turn out to be a rare and valuable piece, it is best left in its original state and the buyer can contact their own expert for repair.

Know the current price

The price of silver fluctuates just like gold does so knowing the going price of silver before you go to sell could help you make sure you are getting the best deal possible. Keep in mind that the pawn broker needs to make a profit as does the person refining the silver, so expect to get 80% to 90% of the going rate for your silver at most.

Find a reputable pawn shop to do business with Pico Union Pawn Shop has been doing business in the Los Angeles area for more than 40 years. In addition to the buying and selling of precious metals and jewelry, they also buy items such as electronics, musical instruments and watches. They can also offer you a loan on your items if you are not ready to sell.

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