How Much do Pawn Shops Pay for Gold (Payout Guide)

by Timothy Ronaldson


Pawn shops are a popular place to sell gold that you don’t want any more. But, how much do pawn shops pay for gold? 

Before you gather all your gold jewelry, it’s important to know the price pawn shops pay for gold so you know what to expect. 

In our payout guide below, we’ll detail all the different aspects of selling gold to pawn shops so you can be better prepared for what you might receive in return for items.

Do pawn shops pay spot price for gold?

Figuring out pawn shop pricing for gold is not as straightforward as you might think for one major reason — pawn shops need to make a profit off the gold they buy from you.

To ensure they make a profit, pawn shops will need to pay you less than the current price of gold.

Trend on the Rise

How much you get for your gold at pawn shops depends directly on the price of gold. As of July 2022, the price of one ounce of gold was $1,766.43. That’s lower than it was a year earlier, but a lot higher than it was even a few years ago.

Otherwise, it wouldn’t make sense for them when they go to re-sell it. This is a major part of how pawning works.

You should always expected to be paid less than the actual market value for gold when you sell it at a pawn shop. You could fetch anywhere from 25% of its value up to about 75%. 

Whether a pawn shop pays more or less than another depends on a number of factors.


These factors include:

  • Resale Market – If the pawn shop believes they can sell your item quickly, they might be willing to pay you more for it.
  • Condition of Item – Items in better condition will sell for more and quicker, which would increase the payout to you.
  • Location of Item – Gold items may be valued more in certain locations than others.
  • Type of Item – Rings and necklaces may sell better than pendants, for instance.

Tactic for Success

The better condition your gold item is in, the better it’ll look to pawn shops. As a result, the pawn shop payout for gold will be higher if your item is presented well. So, clean up your gold items before you bring them into a pawn shop to resell. This is a top tip for how to sell things to a pawn shop.

What do pawn shops consider when pricing gold?

There are a lot of things that pawn shops take into consideration when they are pricing the gold you want to sell them. 

Keep in mind that not all gold is exactly the same. And even gold that is of the same purity is different once it’s made into a consumer product such as jewelry.

If you have a certain payout amount you are aiming for, check out what you can pawn for $500 or more, including various gold items.

So, if you’re trying to figure out how much you might get for your gold at a pawn shop, keep in mind what they will consider.

These considerations include:

  • The Purity – The purer the old is, the higher its price. Gold that’s 24k is considered pure, while 14k gold is considered 58.5% pure. 
  • Current Price – Pawn shops will then use the current market price of gold when pricing your item, as well as that of other precious metals.
  • The Weight – How much your gold item weighs directly impacts its price. The heavier the item, the more valuable it will be.
  • The Intricacy – Most pawn shops would like to re-sell your item, rather than sell it to be melted. So, how intricate, ornate or unique your item is will factor into the pricing.

Trend on the Rise

Precious metals such as gold have always been very valuable items at pawn shops. They are very easy to sell, compared to other items. That’s why you could get 50% of the gold item’s value if you’re pawning it and up to 88% if you’re selling it outright.


Is it better to pawn or sell gold?

Whether you decide to pawn or sell your gold depends on what your needs are. 

If you are looking to maximize the value of your payout, then you should sell it outright. You will almost always get more money in a straight sale than you will a pawn.

But, if you want to get your item back, you should go the pawn route. You’ll get less money upfront, but you get your money back after you pay the pawn back. 

Essentially, you can consider this like a secured loan, as your gold item will serve as the collateral.

How much do pawn shops pay for 10k gold?


Gold that is 10k is 41.7% pure. Because of this, it isn’t valued as high as pure gold, which is 24k. 

That being said, this doesn’t mean that 10k gold isn’t valuable at all and that pawn shops won’t pay you for these items.

One of the main reasons why it’s valuable to pawn shops is that it’s one of the most common options for gold jewelry and items in the U.S. 

In other words, consumers want it, so pawn shops love to have it. 

The pawn shop will use the same factors above when pricing your item. But, they will use the current market price for 10k gold rather than pure gold when making a final payout determination.

Wrapping Up

Selling gold at pawn shops is one of the best ways to make money for items you no longer want. 

Keep in mind that there are many factors pawn shops will consider when pricing your gold, so pay attention to what we’ve presented above for your potential gold payout. 

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Tim is a classically-trained journalist who loves to share knowledge and information with others. In the past, he has worked in TV, online and print media, and currently works with companies to help design, create and strategize their messaging.

About the Author

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Tim is a classically-trained journalist who loves to share knowledge and information with others. In the past, he has worked in TV, online and print media, and currently works with companies to help design, create and strategize their messaging.