Thinking of selling your gold bullions and jewellery to pawn shops instead of just getting a loan? It's possible, because some of them aren't just operating as pawn brokers but as refiners as well. But don't just choose the first pawn shop nearest you! Below are some things you need to do when it comes to selling your gold to pawn shops.

Do your homework

First of all, make sure you do your research in assessing which establishments are the best ones to go. There are many gold buyers, and thus, you need to carefully evaluate your options to ensure getting the best possible deal. For one, pawn shops who are also refiners are a magnificent choice because they can provide you the highest possible value for your gold whether you're selling or just taking a loan. Also, make sure they pay you in real cash and not shop credits or cheque. Furthermore, gold buyers who test your items in your presence using the latest gold testing device such as an XRF machine are surely ones you can count on.

Know the requirements to sell gold

You can only sell gold in Australia if you're more than 16 years old, and you shouldn't plan of faking your age because gold buyers will ask for any form of identification (such as driver licence, bank statement or utility bill) with your name and current address in it.

Learn the items you can sell

Gold jewellery chains, pendants, bangles, watches, earrings and rings are among the most popular items that can be sold in pawn shops. Of course, if you have gold bullion bars and coins, you can also sell them. Surprisingly, pawn shops who are also refiners can accept scrap gold from broken jewellery and even dental fillings. In addition, establishments can also accept non-gold high-value products such as diamond jewellery and fine watches. On the other hand, you can't either sell or pawn gold-plated jewellery.