How Will Pawn Shops Determine The Weight Of Gold?
To be quite honest with you, when I was first asked this question, I almost thought it was a little weird.
How do pawn shops weigh gold?
Does it seem like such an obvious answer? They use a scale just like anyone else would weigh anything.
That having been said, the more I thought about the question being asked, the more I realized that the answer might not be that simple.
For instance, there are different units of measure that some pawn shops will use when weighing gold.
What I mean by that is this:
Some pawn shops will weigh gold based on the gram weight. So, they will weigh and evaluate gold on a gram by gram basis.
However, other pawn shops will weigh gold based on penny weights. That is another unit of measure that is approximately 1.5 gram.
Because there are two different standardized systems for weighing gold, the question becomes much more interesting.
So, you’ve decided to sell off some gold pieces or jewelry and are making plans to visit your local pawn shop. How exactly do pawn shops weigh gold? Depending on state laws, the answer is quite simple.
Is There An Advantage To Weighing Gold In Grams Versus Pennyweights Or Vice Versa
No. There is absolutely no advantage.
What it’s all going to come down to is the same amount of money per troy ounce for the same metal.
Because of that, no matter how the pawn shop weighs the gold, they are going to come to roughly the same numbers when determining the value of that gold.
That having been said, some pawn shops will pay more for gold by weight than others.
There is just a natural degree of variance between pawn shops and it’s a good reason to comparison shop the stores in your area. That way you will know who pays the most for their gold versus others.
Is There Anything Else That May Come Into Account When The Pawnshop Is Weighing Gold
If there are gemstones, synthetic or real, in the gold that are of significant weight, they may affect how the pawn shop looks at the weight of the gold.
They will usually subtract the approximate weight of the stones from the weight of the metal. Of course, the reason for this is because the pawn shop doesn’t want pay a gold metal price for a stone that will not be worth nearly as much.
It’s pretty standard from pawnshop to pawnshop across the country, no matter where you look.
That having been said, if the stones are diamonds than they will typically be worth more and the pawnshop will also take that into consideration.
What Kind Of Scales Do Pawn Shops Have To Use To Weigh Gold
Typically speaking, it will be set by state law that pawn shops have to use scales that are certified legal for weights and measures.
This is a pretty common practice across the country, and pawn shops will almost always obey those laws.
It’s not that scales that aren’t certified for weights and measurements are not good, it’s just that the scales that are certified are fully compliant with the laws where the pawnshop operates.
That having been said, this is not a mandate that is universal across the nation. In some states, pawn shops may be able to use any kind of scale that they choose to use. It’s just a matter of where you live and what laws are in effect in your area.
